FMDQ OTC market turnover report shows the turnover on all products traded on the FMDQ secondary market from January to June 2016 amounted to NGN48.94 trillion.
The data was 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.
It includes all trading activities Foreign Exchange (FX), Treasury Bills (T.bills), Bonds (FGN Bonds, other Bonds (Agency, Sub-national, Corporate & Supranational) & Eurobonds)) and Money Market (Repos/BuyBack to Top Back to Top 5 Backs and Unsecured Placements/Takings). These figures exclude primary market auctions in T.bills and Bonds.
According to the report, trading activities in T.bills contributed the largest to overall turnover, accounting for 38%, secured market transactions (Repos/Buy-backs) accounted for 27%, while FX market transactions accounted for 26%, FGN Bonds, 5% and Unsecured Placement & Takings, 4% of overall market turnover.
On a comparison basis, dealing Member (Banks) accounted for 70% (NGN58.53 trillion) of the overall turnover in the market, with the top three (3) accounting for 40% (NGN23.67 trillion) of this sub-section of the market. Access Bank PLC, Diamond Bank PLC and Stanbic IBTC Bank PLC maintained their positions as leaders for the 4th month running, ranking 1 st, 2nd and 3rd respectively, in the value traded for the overall OTC market.
However, Access Bank PLC moved a step up from 2nd to 1st place, pushing Diamond Bank PLC to 2nd place. Other institutions maintained their positions on the League Table with the exceptions of Standard Chartered Bank Nigeria Limited, moving a step up the League table from the 8 th to the 7 th position, Union Bank of Nigeria PLC, also moving a step up from the 9th to the 8th position and Skye Bank PLC, moving down two (2) steps from 7th to 9th place.
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