FMDQ OTC upturns identity to full-fledged Securities Exchange

FMDQ OTC upturns identity to full-fledged Securities Exchange

FMDQ over-the-counter trading (OTC) platform has upturned its identity to become a full-fledge Securities exchange.

The Exchange said in a release that it is pleased to inform the public about the Company’s transition from an OTC Market to a full-fledged Securities Exchange.

The status is achieved having received the necessary approvals from the apex regulator of the Nigerian capital market, the Securities and Exchange Commission.

It said that consequently, the erstwhile Exchange has now changed to a public limited liabilities company (Plc).

The Exchange, following due process, has activated and operationalised two wholly-owned subsidiaries.FMDQ OTC upturns identity to full-fledged Securities Exchange

These include FMDQ Clear Limited, and FMDQ Depository Limited, that are positioned to provide efficient post-trade services, amongst others, for the Nigerian financial market.

Thus, making FMDQ a one-stop financial market infrastructure group and an integrated platform to execute, clear and settle financial market transactions.

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“In view of the above, a new Logo has been unveiled, on August 5, 2019, for the FMDQ entities – Exchange, Clearing and Depository – replacing each of their individual identities.

“The new logo, whilst maintaining its vibrant colours – deep blue, depicting trust, confidence, depth and stability; bright gold, showing off passion, value, prestige, quality and prosperity.

“Also, touch of cool grey, representing conservativeness, professionalism and sophistication, communicates FMDQ’s drive to “consistently move forward”, the note reads.

FMDQ OTC upturns identity to full-fledged Securities Exchange