Trading Standards
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S/N | Securities / Instruments | Quote Obligation | Order Type(s) | Quote Convention | Standard Order Size ( ₦'mm) | Standard Bid-Offer Spread (bps) | Settlement | Trading Hours |
---|---|---|---|---|---|---|---|---|
1 | FGN Bonds | 2WQ | AFO and RFQ | Price | 100 | 15 (TTM≤3Y) 30 (TTM>3Y) | T+2 days | 10:00 AM to 2:00 PM |
2 | FGN Eurobonds | 1WQ | RFQ | Price | N/A | N/A | T+2 days | 10:00 AM to 2:00 PM |
3 | Sub-National Bonds | 1WQ | RFQ | Price | 50 | 30 | T+2 days | 10:00 AM to 2:00 PM |
4 | Short-term Bonds | 1WQ | RFQ | Price | 100 | 15 | T+2 days | 10:00 AM to 2:00 PM |
5 | Supranational Bonds | 1WQ | RFQ | Price | N/A | N/A | T+2 days | 10:00 AM to 2:00 PM |
6 | Agency Bonds | 1WQ | RFQ | Price | 50 | 30 | T+2 days | 10:00 AM to 2:00 PM |
7 | Corporate Bonds | 1WQ | RFQ | Price | 75 | 30 | T+2 days | 10:00 AM to 2:00 PM |
8 | Corporate Eurobonds | 1WQ | RFQ | Price | N/A | N/A | T+2 days | 10:00 AM to 2:00 PM |
9 | Sukuk | 1WQ | RFQ | Price | N/A | N/A | T+2 days | 10:00 AM to 2:00 PM |
10 | FGN Promissory Notes | 1WQ | RFQ | Price | N/A | 15 (TTM≤3Y) 30 (TTM>3Y) | T+2 days | 10:00 AM to 2:00 PM |
11 | OMO Bills | 1WQ | RFQ | Discount | N/A | 25 | T+2 days | 10:00 AM to 2:00 PM |
12 | CBN Special Bills | 1WQ | RFQ | Discount | N/A | 25 | T+2 days | 10:00 AM to 2:00 PM |
13 | Treasury Bills | 1WQ | RFQ | Discount | 250 | 25 | T+2 days | 10:00 AM to 2:00 PM |
14 | Commericial Papers | 2WQ | AFO and RFQ | Discount | 25 | 50 | T+2 days | 10:00 AM to 2:00 PM |
15 | Repos | 1WQ | RFQ | Repo Rate | N/A | N/A | T+2 days | 10:00 AM to 2:00 PM |
2WQ | Two -way Quote |
1WQ | One-way Quote |
AFO | Anonymous Firm Order |
RFQ | Request for Quote |