Participants at the FMDQ OTC Securities Exchange-Sponsored Q1 2019 Quarterly Risk Roundtable of the Risk Management Association of Nigeria at Exchange Place, Lagos.FMDQ OTC Securities Exchange on Friday, March 8, 2019, sponsored the Q1 2019 Quarterly Risk Roundtable of the Risk Management Association of Nigeria (RIMAN). The Round Table, which held at Exchange Place, was focused on the introduction to Derivatives and Risk Management in Derivatives Market, and the role of FMDQ in the development of the Derivatives Market in Nigeria, amongst others.
About FMDQ OTC Securities Exchange:
FMDQ was registered by the Securities and Exchange Commission (SEC), Nigeria in 2012, and launched in 2013, with a primary focus on organising and deepening the markets, and as a self-regulatory organisation for the OTC markets. The OTC Exchange has since upgraded the governance structure in its markets, thus promoting unprecedented transparency, operational excellence, and liquidity.
In addition to improved market governance, FMDQ has championed the introduction of several innovations and market development initiatives to the financial markets, including the introduction of the Naira-settled OTC FX Futures product (in collaboration with the Central Bank of Nigeria); the launch of its prestigious Listings & Quotations Service; the reform of the NIBOR, in line with the International Organisation of Securities Commissions Principles for Financial Benchmarks; and the launch of its e-Markets Portal, a knowledge and information portal, amongst many others. The OTC Exchange earned the BusinessDay 2017 Award for ‘Most Innovative in Financial Markets’ in recognition of these and other reformations in the Nigerian financial markets.L-R: Mr. Magnus Nnoka, President, Risk Management Association of Nigeria (RIMAN); Ms. Kaodi Ugoji, Associate Executive Director, Corporate Development, FMDQ OTC Securities Exchange (FMDQ); Mr. Allan Ralph Thomson, Managing Director/CEO, Dreadnought Capital, lead facilitator; and Ms. Jumoke Olaniyan, Vice President, Market Architecture, FMDQ, at the FMDQ-Sponsored Q1 2019 Quarterly Risk Roundtable of RIMAN at Exchange Place, Lagos
FMDQ operates an Investor Protection Fund (IPF), in line with Part XIV of the Investments and Securities Act (ISA), 2007, for the purpose of compensating investors who suffer pecuniary losses arising from the insolvency, bankruptcy or negligence of its dealing members or defalcation committed by a dealing member or any of its representatives. The Fund is managed by the Board of Trustees which provide guidance with respect to the monies to constitute the Fund, the conditions for pay-outs, and procedures for making claims against the Fund. The IPF Rules, which outline the modalities for the application of the Fund, have been approved by the SEC.
FMDQ OTC Securities Exchange is Nigeria’s foremost debt capital, foreign exchange and derivatives over-the-counter securities exchange, strategically driven to transform the Nigerian financial markets through its “GOLD” (Global Competitiveness, Operational Excellence, Liquidity and Diversity) Agenda.
With an average annual market turnover of circa ₦118 trillion, about $600 billion, over the last three years, FMDQ operates the largest securities exchange in Nigeria.