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Business news
FMDQ OTC Exchange records N130trn transactions in 11 months
Posted on January 21, 2016
FMDQ OTC Exchange records N130trn transactions in 11 months
Foreign exchange derivatives grew from zero in 2013 to N6.554 trillion in 2013 and stood at N6.263 trillion as at the end of October 2015.
Managing Director/Chief Executive Officer of FMDQ OTC, Mr. Bola Onadele Koko recently said stakeholders should expect better deal from the platform in the years ahead.
According to him, having succeeded in turning around the market within two years, the next move is to bring more innovations that will benefit all stakeholders and make the platform more attractive to issuers and investors.
Onadele disclosed that while the platform has been quoting federal government and corporate bonds of public companies among others, there are plans to quote bonds of private companies as part of its commitment to support efforts aimed at galvanising the development of the Nigerian economy.
“FMDQ will establish the requisite market governance over these private companies’ bonds as part of its investor protection standards in making the Nigerian debt capital market globally competitive to attract pension funds and foreign capital,” he said.
He added that FMDQ is establishing the building blocks to redefine access to long-term debt capital for private companies and ventures in Nigeria. “
FMDQ is establishing the building blocks to redefine access to long-term debt capital for private companies and ventures in Nigeria. FMDQ is promoting the market structure that will facilitate the injection of credibility and transparency to the quotation of private companies’ bonds that, by law, can only be issued through private placements. The platform is promoting the market structure that will facilitate the injection of credibility and transparency to the quotation of private companies’ bonds that, by law, can only be issued through private placements,” Onadele said.