FMDQ Admits Exchange Traded Fund, The Vetiva S&P ETF, on Its Platform. As the financial markets wrap up activities for the year, FMDQ OTC Securities Exchange (“FMDQ” or the “OTC Exchange”), on December 29, 2016, admitted the pioneer listing of an Exchange Traded Fund – 5,070,359 units Units of the Vetiva S&P Nigerian Sovereign Bond Exchange Traded Fund (“VS&P ETF”) – on its platform. With the due approval of the FMDQ Board Listings, Markets and Technology Committee, the VS&P ETF, becomes the second Fund to be listed on the OTC Exchange, following the Greenwich Plus Money Market Fund.
FMDQ remains unyielding in its mandate to revolutionise and promote the development of the Nigerian financial markets. The OTC Exchange is strategically positioned to boost the development and competitiveness of the markets under its purview. In the fixed income market, specifically, FMDQ provides a most reliable platform for the registration, listing, trading and valuation of debt securities. The VS&P ETF, will, as part of the benefits for securities listed on FMDQ’s platform, be availed global visibility through the OTC Exchange’s corporate website and the FMDQ-Bloomberg E-Bond Trading System. The listing of the VS&P ETF will serve to drive increased confidence in the possibility of the nation’s investment climate, and the Fund will undoubtedly enjoy the prestige provided by FMDQ’s listings and quotations service.
Looking ahead into 2017, FMDQ will remain committed to impeccable delivery of its mandate, leveraging on, as it must to ensure success, the concerted and collaborative efforts of its stakeholders, to support economic development pertinent to the resuscitation, where applicable, and growth of the Nigerian financial markets.