This membership category is classified into three sub-categories to accommodate the diverse market participants that would typically fall under this category. This category was created for institutions and individuals with an association with the financial markets and an intense interest in the FMDQ markets, willing to take advantage of the Exchange’s commitment to develop the Nigerian financial markets through knowledge, information and appropriate connectivity. FMDQ Affiliate Members are however, not conferred with any participatory or voting rights on the Exchange as either Dealing, Associate or Registration Members.
- Affiliate Member (Standard)
Institutions and individuals in this sub-category have a deep desire to build capacity and financial markets know-how by taking advantage of FMDQ’s commitment to facilitate same. Affiliate Members under this sub-category avail on FMDQ’s core value proposition of consistently adding value to a vast range of stakeholders and are consequently provided with benefits, including but not limited to financial market knowledge acquisition, trades/investments monitoring ability, tools to enable informed investment decisions and efficient price discovery, as well as access to a repository of fixed income and currency markets information, through the FMDQ e-Knowledge module within the FMDQ e-Markets Portal.
Financial market regulators are provided with data access and market visibility rights over the market activities of their respective supervisees on FMDQ’s platform, through access to FMDQ’s proprietary Trading, Reporting and Surveillance Systems as relevant.
- Affiliate Member (FX Trading)
This sub-category is specifically for the major population of corporate institutions (clients as product end-users) desirous of executing FX trades with CBN-Authorised FX Dealers (also FMDQ Dealing Member (Banks)) through FMDQ-advised FX Trading and Surveillance Systems. Institutions under this sub-category, in addition to being authorised to trade FX with the Authorised Dealers through the relevant System(s), will have access to the benefits availed the Affiliate Members under the “Standard” sub-category.
- Foreign Exchange (Corporates)
- This membership category, an off-shoot of the Affiliate Member (FX Trading) category, is ideal for institutions that require access to trade on the FMDQ-Advised FX Trading System(s) strictly for engaging in FX-related transactions with FMDQ Dealing Member (Banks), without the additional benefits availed institutions in the Affiliate Member (Standard) category.