FMDQ, S&P Dow Jones partner on Nigeria Sovereign Bond Index formation

FMDQ OTC Securities Exchange

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.”

Leave a Reply

Your email address will not be published. Required fields are marked *