Market Development Stakeholders’ Session – Series 4. Sequel to the successful activation of the different categories of Membership, it was decided that the strategy to widen the trading activities in the Nigerian financial system could be boosted with the introduction of new trading institutions. This initiative gave birth to the “Specialist Dealing Members” (SDMs) sub-category on FMDQ.
The FMDQ Membership categories are as follows:
- ▪Dealing Members: Banks and Discount Houses; SDMs will fall into this category
- ▪Associate Members: Inter-dealer Brokers, Brokers and Clients
- ▪Registration Members: Listings and Quotations
FMDQ seeks to activate the SDM sub-category to offer Investment Banking Firms’ access to the FMDQ Market, on the follow-up from the brainstorming session held with Investment Banks (IBs) in September 2014 on the feasibility of IBs becoming Dealing Members of FMDQ.
The Market Development Stakeholders’ Session (Series 4) which held at La Cour, Ikoyi, Lagos, on December 4, 2014 provided a platform for representatives of the Investment Banking firms to deliberate on the role of SDMs and discuss the debt market value chain, from origination through to trading.
The following Q4 Agenda was presented for deliberation at the Session:
- ▪Debt Market Value Chain & FMDQ’s role
- ▪Bonds & Commercial Papers Quotations
- ▪FMDQ E-Market
- ▪Specialist Dealing Members (SDMs)
- ▪Membership & Registration Requirements
- ▪FMDQ Commercial Paper Quotation Rules