Nigeria’s foremost debt capital and OTC exchange, FMDQ OTC Securities Exchange has entered a partnership with Thomson Reuters, a Canadian multinational mass media and information firm, to help drive liquidity and enhance the Nigerian financial market for both local and international investors. This was confirmed by the Managing Director/CEO, FMDQ OTC Securities Exchange, Bola Onadele Koko.
The partnership is expected to see Reuters, world’s leading information firm, provide FMDQ access to its Innovation Lab in Cape Town, South Africa, which will drive innovation on forex, fixed income, risk management and the financial market. The collaboration will also include conducting joint financial markets events that promote transparency and liquidity as well as skills training to educate the market.
Koko said:
“We are pleased to formalise our partnership with Thomson Reuters as we cooperate towards the development of the Nigerian financial markets.”
Recently, in order to boost its operations, stakeholders of FMDQ OTC Plc unanimously agreed with the company’s Board of Directors to raise a N5 billion capital. Though, a date is yet to be disclosed to the public for the fundraising, but the company’s Chairman, Dr. Joseph Nnanna made known that the fund would be raised through a mix of rights issue and public offering.
According to Nnanna, the fund would be raised in portions and would be used for products development and subsidiaries.
About FMDQ OTC
With the strategic intent of bringing about revolutionary changes and fostering the development of the Nigerian financial markets, FMDQ OTC is Nigeria’s foremost debt capital, currencies securities exchange and derivatives over-the-counter securities exchange.
Registered by the Securities and Exchange Commission (SEC) in 2012, and launched into 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.