FMDQ OTC Securities Exchange (“FMDQ” or the “OTC Exchange”) maintains its support for the development of the Nigerian debt capital markets by steadfastly availing its efficient platform for the registration, listing, quotation and trading of debt securities. Accordingly, the OTC Exchange has welcomed another corporate commercial paper (CP) programme registration, the Rand Merchant Bank Nigeria Limited ₦80 billion Commercial Paper Programme (the Rand Merchant Bank CP Programme), to its platform. This CP Programme registration strategically positions Rand Merchant Bank to easily and quickly raise short-term finance from the debt market at a time in the future it determines suitable, through CP issues, within the CP Programme limit.
In addition to the commendable and considerably efficient registration process, the quotation, on FMDQ, of the future CP issues from the registered Rand Merchant Bank CP Programme, will provide stakeholders with continuous provision of invaluable information as part of the OTC Exchange’s commitment to organise, govern and enforce transparency in the fixed income market space. Thus, serving to further boost confidence in the possibilities of the Nigerian financial market.
In line with its strategic objectives to support institutional growth and stimulate the continuous development of the economy at large, FMDQ has shown its steadfastness in realising these objectives through the promotion of product innovation and the championing of key market development initiatives, in order to ensure that opportunities abound for the markets under its purview.