Market Connectivity

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At FMDQ Exchange, we provide bespoke electronic systems for trading or market connectivity, online real-time price discovery and efficient price execution, amongst others. These are aimed at fostering governance and providing the requisite visibility and transparency on trading activities for the efficient running of the FMDQ markets. Through these systems, FMDQ Members, as relevant, have access to products traded on the Exchange, including, but not limited to, bonds, commercial papers, foreign exchange and derivatives.

FMDQ Clients’ Fixed Income Trading, Reporting and Surveillance System (PenDealer)

This is a web-based bespoke application developed by FMDQ Securities Exchange with the aim of fostering governance and transparency in the activities of Institutional Clients in the fixed income market market connectivity. PenDealer serves as a platform for Institutional Clients to transact with FMDQ-licenced Market Makers (Dealing Member (Banks), Dealing Member (Specialists) and Associate Member (Brokers)) to promote improved market transparency, efficiency and surveillance of the activities of Institutional Clients.

FMDQ FX Futures Trading and Reporting System (FFTRS)

In a bid to address the fast-growing need for a more streamlined and organised FX Futures market, the FFTRS was designed to serve as an efficient platform for the execution, reporting and monitoring of OTC FX Futures contracts between the Central Bank of Nigeria (“CBN”) and FMDQ licensed market makers, Dealing Member (Banks).

FMDQ DMS Automated Fixed Income, Trading & Reporting System (Q-Deal)

In line with its desire to, not just integrate the Nigerian financial markets, thereby improving the markets’ network effects, but to also promote market liquidity, with particular focus on the debt capital market (DCM), FMDQ developed the Q-Deal system to cater for the Dealing Member (Specialists) membership category which are typically non-bank financial institutions (NBFIs) to act as market makers in the retail segment of the FMDQ fixed income market. Participation of the NBFIs, typically the investment banking firms and securities dealing firms, is expected to generate additional liquidity to the Nigerian fixed income market, as well as serve as an avenue for effective and efficient retail participation in the market.

FMDQ Bloomberg E-Bond Trading System

The Bloomberg E-Bond system provides a complete, consolidated marketplace for the Nigerian Fixed Income market, offering market participants a robust and flexible set of tools supporting the full trade workflow. This includes pre-trade price discovery and analytical tools, the ability to handle both multi-dealer request-for-quote (RFQ) and order trading, straight-through processing (STP) functionality and integrated trade capture and reporting tools. In addition, market oversight entities and regulators can use the system to review market activity and audit transactions. Available to subscribers of the Bloomberg Professional service at EBND , the trading system is fully integrated with Bloomberg’s data, news, analytics and communications tools to provide clients active in the Nigerian debt market with a single, comprehensive solution.

FMDQ Exchange Securities Admission Portal

To further enhance FMDQ Exchange’s Securities Admission service offering, the FMDQ Exchange Securities Admission Portal (the “Portal”) was launched to manage all stages of the securities admissions process from the application stage to the approval stage. The objective of the Portal is to significantly eliminate manual coordination of workflow capabilities for securities admission application filings by Registration Members, amongst others.