FMDQ OTC Exchange’s Turnover Hits NGN38.58 Trillion

FMDQ OTC Securities Exchange, Nigeria’s premier over-the-counter exchange for debt, fixed income and currency trading said it its total turnover for Jan-May 2016 is a total of NGN39.58 trillion.

According to the exchange’s monthly newsletter, trading activities in T.bills contributed the largest to overall turnover, accounting for 37.96%, secured market 12 transactions (Repos/Buy-backs) accounted for 28.51%, while FX market transactions accounted for 19.72% and FGN Bonds, 11.42%.

Based on its calculation, the total trade is an equivalent of NGN199.5 billion.

Deposit money banks, DMBs are responsible for 71%  (NGN48.2 trillion) of the total trading activities.

Based on its ranking, three dealing members accounted for 30% (₦20.06trn) of this sub-section of the market. Diamond Bank PLC, Access Bank PLC and Stanbic IBTC Bank PLC maintained their positions as leaders for the 3rd month running, ranking 1 st, 2nd and 3rd respectively, in the value traded for the overall OTC market.

Other institutions also maintained their positions on the League Table with the exception of Union Bank of Nigeria PLC, moving a step up the League table from 10th to 9th position; swapping places with Guarantee Trust Bank PLC now occupying 10th position.

FMDQ is an organisation with the strategic intent of bringing about revolutionary changes and fostering the development of the Nigerian financial markets.

The exchange is registered by the Securities and Exchange Commission, SEC as an over-the-counter, OTC market in 2012, and launched on to the Nigerian financial landscape in November 2013, FMDQ has dual responsibilities of a securities exchange and self-regulatory organisation, SRO and brings together Nigeria’s fixed income and currency operations under a single market governance structure.

Based on its vision, FMDQ plans to be the leading exchange in Africa in the fixed income and currency markets in 2019 and a mission to empower the financial markets to be innovative and credible, in support of the Nigerian economy, FMDQ is positioned to drive global competitiveness by deepening its markets through product innovation and institutionalising robust market architecture.



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