FMDQ admits Stanbic IBTC Bank CP as First Quotation on its Platform

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

FMDQ admits Stanbic IBTC Bank CP as First Quotation on its Platform. Sequel to the release of its Commercial Paper Quotation Process and Rules, FMDQ OTC PLC (FMDQ) has admitted the first commercial paper (CP) for quotation on its platform. The quotation of the “Stanbic IBTC Bank PLC (Stanbic IBTC Bank) N100bn Multi-Currency Commercial Paper Issuance Programme” on the FMDQ platform ushers in the new era of short-term corporate papers to the Nigerian OTC market. This quotation provides the necessary visibility and liquidity for the secondary market trading of CPs. With the FMDQ CP Quotation Process and Rules put in place, investors in the Stanbic Bank CP can have confidence in their investment in terms of transparency and liquidity.

The introduction of CP quotation in the Nigerian financial market serves as a first step towards the provision of unprecedented transparency and governance in the CP market. FMDQ, through this initiative, purposes to build a vibrant CP market by providing price/value data and detailed issuers’/issue information on FMDQ quoted CPs to stakeholders – investors, issuers and regulators – thereby strengthening the governance of the CP market, positioning the money market for improved price formation and eventually, the emergence of a transparent corporate interest rate fixing in the Nigerian OTC financial market.

The re-organisation of the CP market has come at an opportune time as banks, in compliance with Basel 3 capital and liquidity provisions, are beginning to re-position their balance sheets. An active and vibrant CP market is also of tremendous benefit to domestic and offshore investors – fund managers, pension fund administrators (PFAs), other corporates etc. – seeking investments in alternative asset classes and to corporates desiring more efficient ways to raise funds.

More Articles

FMDQ Group PLC Appoints Deputy Governor, Economic Policy of CBN, Muhammad Sani Abdullahi, as Group Chairman

FMDQ Exchange Admits Chapel Hill Denham Series 9 Nigeria Infrastructure Debt Fund on its Platform

FMDQ Exchange Lists Lagos State Government ₦19.82 billion Forward Ijarah Lease Sukuk 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
[info@fmdqgroup.com]

Report

Get access to industry data and reports

Report

Get access to industry data and reports

Report

Get access to industry data and reports

Report

Get access to industry data and reports