Market Development Stakeholders’ Session (Series 1). Driving the FMDQ OTC market initiatives require programmed sensitisation with the stakeholders.
In line with our stakeholder engagement strategy for market initiatives sensitisation and FMDQ’s implementation of the E-Bond trading system on its platform, the FMDQ-led Market Development Stakeholders’ Initiative Session (Series 1) kicked off on March 21 at the Radisson Blu Anchorage Hotel, Victoria Island, Lagos; This is in accordance with our mandate to ensure dissemination of quality information and drive an effective feedback mechanism to and fro the market.
The OTC market is made up of the sell-side i.e. the Dealing Members (presently comprises of banks and discount houses) and corporate treasurers; and the buy-side i.e. the pension fund managers, fund & asset managers and some corporate treasurers as well.
At the forum, FMDQ quarter 2 initiatives were presented for deliberation. These were:
- â–Ş NIBOR Reform Programme
- â–Ş Revival of the Commercial Papers market
- â–Ş FMDQ Bloomberg E-bond trading system for FGN bonds and treasury bills
Participants at this forum included representatives from the following organisations:
- â–Ş The Central Bank of Nigeria (CBN)
- â–Ş Financial Markets Dealers Association (FMDA)
- â–Ş Pension Fund Operators Association of Nigeria (PenOp)
- â–Ş Fund Managers Association of Nigeria (FMAN)
- â–Ş Association of Corporate Treasurers of Nigeria (ACTN)
- â–Ş Rating Agencies
- â–Ş Central Securities and Clearing System (CSCS)
This forum is the first in the series of planned quarterly stakeholder engagement sessions.