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FMDQ Exchange is charged with the responsibility of maintaining fair and orderly currency, debt capital and derivatives markets. As a self-regulatory organisation (SRO) licensed by the Securities and Exchange Commission, the Exchange has established a comprehensive and effective regulatory and supervisory framework to regulate the FMDQ markets and its Members, which include deposit money banks, issuing houses, investment banking and securities dealing firms, inter-dealer brokers, securities brokers, institutional and individual investors, etc.
As part of its mandate to provide governance for the markets under its purview and in its capacity as an SRO, FMDQ Exchange develops rules and provides guidance to its Members, their Authorised Representatives, and other financial market stakeholders.
Market Rules
Rules and regulation serve an important purpose to foster transparency, consistency, and fairness (component factors of regulation) in the financial markets. As a self-regulatory organisation, FMDQ aims to strike a seamless balance between the aforementioned factors through robust documentation and enforcement of its regulation.
Exposure Drafts
To ensure all FMDQ Rules are robust and comprehensive, the FMDQ Rule Making Process provides for the exposure of its Draft Rules & Regulation to various stakeholders, which include, but are not limited to FMDQ Members, subject matter experts and various associations within the financial markets landscape.
Interpretive Guidance
Interpretive guidance is an effective means through which FMDQ can comment on topics of general interest to its market participants and communicate the principles driving the development of regulation, in order to create better understanding of the applicability of the regulation among its stakeholders.
Market Bulletin
FMDQ Securities Exchange Limited issues Market Bulletins to provide information to its Members and market participants on a variety of regulatory issues ranging from the introduction of new Regulation, exposure of Draft Rules & Regulation, proposed changes to the Regulation, and guidance in relation to compliance with Regulation as may be prescribed by the Exchange from time to time.
Market Oversight
As a self-regulatory organisation with a mandate to uphold market integrity, improve credibility and confidence in the Nigerian fixed income, currencies and derivatives markets, FMDQ Exchange is committed to upholding professional principles of trade and best business practices, through the Exchange’s rule making, examination and enforcement responsibilities.