Market Development Stakeholders’ Session – Series 3. As a debt capital focused securities exchange desirous of entrenching governance and transparency, ensuring market efficiency and institutionalising robust market architecture in the Nigerian OTC financial market, FMDQ OTC PLC (FMDQ) organised Series 3 of its Market Development Stakeholders’ Session.
One of the ways FMDQ seeks to achieve these objectives is by reviving the Nigerian money market and this gave rise to the development of the Commercial Paper Quotation Process (CPQP) and Commercial Paper Quotation Rules (CPQR) which received a regulatory nod from the Central Bank of Nigeria (CBN).
The CPQP and CPQR were deliberated at the Session, which held at the FMDQ Conference Room, Victoria Island, Lagos on September 11, 2014. The various stakeholders, which included banks, discount houses, pension fund administrators (PFAs), pension fund custodians (PFC), CSCS, credit rating agencies (CRAs) etc., provided relevant feedback, some of which were incorporated into the final process and rules.
At the session, the Agenda presented for deliberation was as follows:
- ▪Welcome Address
- ▪FMDQ Commercial Paper Quotation Process
-Issuer Application and Issue Registration Process
- ▪FMDQ Commercial Paper Quotation Rules