This membership category is largely made up of institutions that make market in the products traded on the Exchange and is made up of two sub-categories:
- Dealing Member (Banks)
Institutions registered in this sub-category are CBN-licenced banks that make market on money market, currencies and debt securities traded on FMDQ. These FMDQ-licenced Members provide circa 99% of the overall liquidity in the FMDQ markets.
- Dealing Member (Specialists)
Institutions registered in this sub-category are non-bank financial institutions (i.e. investment banking firms, securities dealing firms etc.) making market in Nigerian treasury bills and Federal Government of Nigeria bonds.
Fees and Dues