FMDQ posts scorecard for 9 months

The FMDQ OTC Securities Exchange has posted its turnover from January to September, a total of N179 trillion.

FMDQ is Africa’s first vertically integrated Financial Market Infrastructure (FMI) group, strategically positioned to provide seamless execution, clearing and settlement of financial market transactions across the debt capital, foreign exchange and derivatives markets.

Details of turnover: Data obtained from the FMDQ disclosed:

  • Turnover in the fixed income and currency market in January 31, 2019, was N15.08 trillion, representing a 14.85% (N2.63 trillion) month-on-month decrease on the turnover of N17.71 trillion recorded in December 2018, and a 28.78% (N3.37 trillion) year-on-year increase.
  • Treasury bills and foreign exchange market segments remained the major drivers of turnover in the FIC market, jointly accounting for 78.69% of turnover in January and higher by 2.21% points from their contribution to turnover in December.
  • Turnover in the FIC markets for the month ended February 28, 2019, was N19.18 trillion, representing a 27.19% (N4.10 trillion) increase on the turnover recorded in January 2019 and a 52.38% year-on-year increase from N12.59 trillion recorded in February 2018.
  • Treasury bills and FX market segments remained the major drivers of turnover in the FIC markets in February, jointly accounting for 77.88% of turnover, which was 0.81% points lower than their contribution in January.
  • In March, the turnover in the FIC markets increased by 51.09% month-on-month to N28.98 trillion and increased by 84.47% year-on-year from the N15.71 trillion recorded in the same period in 2018.
  • Turnover in April decreased by 43.51% month-on-month to N16.37 trillion but increased by 9.57% year-on-year.
  • In April, the naira appreciated against the United States dollar at the Importers and Exporters FX Window by N0.05 to close at $/N360.63 while the parallel market and the Central Bank of Nigeria official spot rates remained unchanged at $/N360.00 and $/N306.95, respectively.
  • May – the turnover increased by 25.17% month-on-month to N20.49 trillion but decreased by 6.69% to N19.12 trillion in June.
  • July – the turnover declined further to N16.36 trillion as the Exchange saw 20 trading days and an average daily turnover of N817,775.
  • August – it recorded a turnover of N23.21 trillion in 23 trading days and an average daily turnover of N1.01 million.
  • The turnover declined to N19.21 trillion at the end of September.

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