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Nairaland Forum / Nairaland / General / Business / Fmdq Records ₦115.68 Trillion Turnover In 8 Months (276 Views)
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Fmdq Records ₦115.68 Trillion Turnover In 8 Months by rodeo0070(m): 12:47pm On Oct 01, 2018 |
The total turnover on Nigeria’s foremost debt capital and OTC exchange, the FMDQ OTC Securities Exchange platform for the January to August 2018 period amounted to ₦115.68 trillion just as trading activities in Treasury Bills (T.bills) contributed the largest to overall turnover, accounting for 39.48% of the market. The market turnover report obtained by Brand Spur Nigeria in Lagos showed that the transactions were achieved between January and August 2018. FX market transactions (Spot FX and FX Derivatives) accounted for 37.51%, whilst Repos/Buy-Backs product categories accounted for 15.39% of overall market turnover. Bonds and Unsecured Placements & Takings, which contributed the least to overall market turnover, accounted for 7.08% and 0.54% respectively. FMDQ OTC Market Turnover (January – August 2018) (See table below) Average YTD $/₦ @ 360.99mm – million *Other Bonds include Agency, Sub-national, Corporate & Supranational Bonds Note: Figures may be subject to change due to potential adjustments from Dealing Member (Banks) Source: FMDQ Data Portal as @ September 5, 2018; Figures reported by Dealing Member (Banks) on a weekending basis The top ten (10) Dealing Member (Banks) accounted for 76.71% (₦88.74 trillion) of the overall turnover in the market, with the top three (3) accounting for 62.27% (₦59.70 trillion) of this subsection of the market. Stanbic IBTC Bank PLC, Access Bank PLC and United Bank for Africa PLC were the leaders in the value traded for the overall over-the-counter (OTC) market, ranking 1st, 2nd and 3rd respectively. The FMDQ League Table shows the rankings of its top ten (10) Dealing Member (Banks) by overall market turnover in the FMDQ Markets. 1. STANBIC IBTC BANK PLC 2. ACCESS BANK PLC 3. UNITED BANK FOR AFRICA PLC 4. STANDARD CHARTERED BANK NIGERIA LIMITED 5. ECOBANK NIGERIA LIMITED 6. CITIBANK NIGERIA LIMITED 7. GUARANTY TRUST BANK PLC 8. UNION BANK OF NIGERIA PLC 9. ZENITH BANK PLC 10. FIRST BANK OF NIGERIA LIMITED SOURCE: https://brandspurng.com/fmdq-records-%E2%82%A6115-68-trillion-turnover-in-8-months/
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