FMDQ OTC Securities Exchange the foremost debt capital, overseas trade and derivatives over-the-counter securities trade in Nigeria, has introduced that signing of a cooperation settlement to create and launch co-branded mounted earnings indices with S&P Dow Jones Indices (“S&P DJI”), the world’s main supplier of economic market indices, had created Nigeria Sovereign Bond Index
As acknowledged by a assertion by the corporate, “FMDQ OTC Securities Exchange and S&P Dow Jones Indices had in 2017 introduced the signing of a cooperation settlement to create and launch co-branded mounted earnings indices.
“Today, the profitable transition of the S&P/FMDQ Nigeria Sovereign Bond Index marks the activation of the inaugural co-branded index underneath the settlement.
A variety of different S&P/FMDQ Fixed Income indices shall be developed underneath the settlement.
“The S&P/FMDQ Nigeria Sovereign Bond Index, formerly branded as S&P Nigeria Sovereign Bond Index, tracks the performance of local currency denominated sovereign debt publicly issued by the government of Nigeria in its domestic market.”
The Chief Executive Officer of S&P Dow Jones Indices, Alex Matturri mentioned: “We are happy to collaborate with FMDQ to create benchmarks for Nigeria’s home mounted earnings markets.
He mentioned the profitable transition of the S&P/FMDQ Nigeria Sovereign Bond Index marks the start of the joint efforts to determine a extra clear setting for market contributors to realize insights into the Nigerian capital markets.
He also stated that the indices is S&P Dow Jones Indices’ first- ever settlement with an Africa-based securities trade to supply mounted earnings indices.
The Managing Director/CEO, FMDQ OTC Securities Exchange, Bola Onadele defined that as a part of its ‘GOLD ‘ (Global Competitiveness, Operational Excellence, Liquid & Diverse) agenda for the Nigerian monetary markets, the trade is dedicated to creating and growing the market accessibility for all stakeholders together with the traders.
“We are delighted to collaborate with S&P Dow Jones Indices to additional deepen the markets via these index-based options and measures.
As we see extra home and world demand, for numerous and revolutionary funding merchandise.
“The S&P/FMDQ index family will critically serve to raise the global exposure of the Nigeria fixed income assets and represent an opportunity to increase trading flows to the Nigerian financial markets.”