The total turnover for the January to November 2018 period amounted to ₦165.15 trillion. Trading activities in T.bills contributed the largest to overall turnover, accounting for 39.76% of the market.
FX market transactions (Spot FX and FX Derivatives) accounted for 36.72% whilst Repurchase Agreements (Repos)/Buy-Backs product categories (Repos/Buy-backs) accounted for 16.23%, and Bonds and Unsecured Placements & Takings representing 6.81% and 0.46% respectively, of overall market turnover.
The FMDQ OTC Market Turnover Report shows the turnover on all products traded on the FMDQ secondary market – Foreign Exchange (FX), Treasury Bills (T.bills), Bonds (FGN Bonds, other Bonds (Agency, Sub-national, Corporate & Supranational) & Eurobonds)) Commercial Papers and Money Market (Repos/Buy-Backs and Unsecured Placements/Takings).
These figures exclude primary market auctions in T.bills and Bonds.
The data, collated from the weekly trade data submissions by FMDQ Dealing Member (Banks), represents trades executed amongst the Dealing Member (Banks), Dealing Member (Banks) & Clients, and Dealing Member (Banks) & the CBN.
FMDQ OTC Market Turnover (January – November 2018)
mm – million
*Other Bonds include Agency, Sub-national, Corporate & Supranational Bonds
Note: Figures may be subject to change due to potential adjustments from Dealing Member (Banks)
Source: FMDQ Data Portal as @ December 7, 2018; Figures reported by Dealing Member (Banks) on a week-ending basis
Top Ten (10) Dealing Member (Banks) in FMDQ Markets (January – November 2018)
The FMDQ League Table shows the rankings of its top ten (10) Dealing Member (Banks) by overall market turnover in the FMDQ Markets.
|RANK||DEALING MEMBERS (BANKS)|
|1||STANBIC IBTC BANK PLC|
|2||ACCESS BANK PLC|
|3||UNITED BANK FOR AFRICA PLC|
|4||STANDARD CHARTERED BANK NIGERIA LIMITED|
|5||ECOBANK NIGERIA LIMITED|
|6||FIRST BANK OF NIGERIA LIMITED|
|7||CITIBANK NIGERIA LIMITED|
|8||GUARANTY TRUST BANK PLC|
|9||CORONATION MERCHANT BANK LIMITED|
|10||ZENITH BANK PLC|
The top ten (10) Dealing Member (Banks) accounted for 75.77% (₦125.14 trillion) of the overall turnover in the market, with the top three (3) accounting for 58.44% (₦73.13 trillion) of this sub-section of the market. Stanbic IBTC Bank PLC, Access Bank PLC and United Bank for Africa PLC were the leaders in the value traded for the overall over-the-counter (OTC) market, ranking 1st, 2nd and 3rd respectively