Transactions on FMDQ Hits NGN61.68 Trillion


Latest data released bt the FMDQ OTC Securities Exchange shows that the total value of transactions on the exchange from January to July has hit NGN61,68 trillion.

This represents a growth of 26% when compared to the total value of transactions recorded in the month of June.

According to the report, trading activities in T.bills contributed the largest to overall turnover, accounting for 37% of the market. Secured market transactions (Repos/Buy-backs) accounted for 29%, while FX market transactions accounted for 22%, FGN Bonds, 9% and Unsecured Placement & Takings, 3%, of overall market turnover.

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.

A further drill-down on the result shows that top ten (10) Dealing Member (Banks) accounted for 70% (₦74.12trn) of the overall turnover in the market, with the top three (3) accounting for 40% (₦29.88trn) of this sub-section of the market.

Access Bank PLC, United Bank for Africa PLC and Stanbic IBTC Bank PLC topped the League Table, ranking 1st, 2nd and 3rd respectively, in the value traded for the overall over-the-counter (OTC) market.

United Bank for Africa PLC moved up from 4th to 2nd place, pushing Diamond Bank PLC from 2 nd to 4th place. Other institutions maintained their positions on the League Table with the exception of First City Monument Bank Limited, moving up the League Table from the 11th to 8th position, and pushing Union Bank of Nigeria PLC, previously in 8th place to occupy 9th place.

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