Nigeria’s OTC FX Futures market is already in full force with a lot of transparency on the FMDQ OTC Exchange.
As at last week, here are the open contracts as at July 15, 2016:
Based on the rules of the exchange, trading shall cease at 4:00PM on the Friday immediately preceding the expiry date of the respective futures contracts.
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.
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