$7.60bn Worth of OTC FX Futures Trades So Far, as 14th Futures Contract Settles on FMDQ

Share This Article
Share on facebook
Share on linkedin
Share on twitter
Share on email

$7.60bn Worth of OTC FX Futures Trades So Far, as 14th Futures Contract Settles on FMDQ.

Having ceased trading on August 8, 2017, in line with the OTC FX Futures Market Operational Standards, the 14th OTC FX Futures contract, NGUS AUG 16 2017, with notional amount $488.33mm, matured and settled on FMDQ OTC Securities Exchange on Wednesday, August 16, 2017. This brings the total value of contracts so far matured on FMDQ, the OTC FX Futures Exchange, to $5.44bn, with a total of about $7.60bn worth of OTC FX Futures contracts traded so far.

The contract was valued against the NAFEX (Nigerian Autonomous Foreign Exchange Rate Fixing) as published by FMDQ on August 16, 2017, with the associated clearing/settlement effected by the Nigeria Inter-Bank Settlement System PLC (NIBSS), in line with the Operational Standards.

The Central Bank of Nigeria has continued to display its determination to maintain market stability and create an environment conducive for foreign and Nigerian portfolio investors. Consistent with its treatment for the previous maturities in the last one year (July 2016 – July 2017), the apex bank introduced a new contract, NGUS AUG 29 2018, for $1.00bn at $/₦364.00 to replace the matured contract. The CBN also refreshed its quotes on the existing 1- to 11-month contracts. These OTC FX Futures quotes are available daily on FMDQ’s website and published daily on the FMDQ Twitter page.

The OTC FX Futures market, among other commendable results, has paved the way for businesses, corporates and governments to effectively hedge their FX risk, by providing the much-needed certainty to enhance and ensure effective and efficient business planning, in order to keep operations going, amidst any future volatility in the FX market.

More Articles

FMDQ Academy Attains LPI and CPD Accreditations, Launches Capital Markets Course

Romco Recycling Company Limited Quotes ₦1.26 Billion Commercial Papers on FMDQ Exchange

FMDQ Exchange Admits the Eat & Go Finance SPV PLC Series 1 Bond on its Platform

FMDQ-OXFO Partnership
With innovative technology and strategic partnerships we create a new value network and redefine the cost structure for homeownership so that more people
FMDQ Sustainability Agenda
FMDQ, through its activities, aims to achieve sustainability in the areas it actively operates and impacts, as such, its Sustainability Strategy is guided by five (5) main Sustainability Pillars…

Dear Subscriber,

Thank you for your interest in staying connected with us! Before proceeding, please take a moment
to read and acknowledge the terms and conditions below:

1. Privacy Policy: Your privacy is important to us. We will handle your personal information responsibly and in accordance with our Privacy Policy. You can review our Privacy Policy here.

2. Email Communications: By subscribing, you consent to receiving email communications from us. These may include newsletters, product and service brochures, and other relevant updates.

3. Subscription Confirmation: You will receive a confirmation email shortly. Please click on the provided link to confirm your subscription. This step ensures your interest in receiving emails from us.

4. Unsubscribe Option: Every email communication you receive will include an option to unsubscribe. If you ever wish to stop receiving our email communications, you can do so by clicking the “unsubscribe” link at the bottom of the email.

5. Age Verification: By subscribing, you confirm that you are 18 years old or the legal age of majority in your jurisdiction.

6. Frequency: We strive to send you relevant content without overwhelming your inbox. You can expect to hear from us [weekly/monthly/occasionally], depending on our content schedule

Please check the boxes below to confirm your consent.
If you have any questions or concerns about our terms and conditions, kindly contact us at


Get access to industry data and reports


Get access to industry data and reports


Get access to industry data and reports


Get access to industry data and reports