The
Nigerian financial markets has successfully recorded a
ground-breaking and game
changing milestone. This which was registered by
Securities and Exchange Commission (
SEC). The
registration of FMDQ Clear
Limited (FMDQ Clear) take place on
September 29, 2020. To become
Nigeria’s premier Central Counter-party
(
CCP).
 |
Credit: Financial Edge
|
As a critical and much needed
Financial Market Infrastructure (FMI),
this laudable achievement re-defines the landscape for
financial
transactions as we know it and introduces endless possibilities to the
scope of permissible products that can be developed and deployed within
the ecosystem towards delivering long-lasting prosperity to the
Nigerian
economy.
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The
FMDQ Clear CCP ushers the actualization of the outstanding
building block that will enable the development of thriving repurchase
agreements, derivatives, and commodities markets in Nigeria like other
developed economies and markets.
As a critical
FMI, FMDQ Clear, as a
CCP will interpose itself between
two (2) counter-parties by becoming the
buyer to every seller and
seller
to every buyer, thereby aggregating and
consolidating counter-party
risks and introducing the much-desired
counter-party agnostic trading
feature that will catapult the growth of trading liquidity of financial
products in the Nigerian markets to international standards.
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