FMDQ records N119.22tn turnover in six months

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FMDQ OTC Securities Exchange (FMDQ) recorded a turnover of N119.22tn in six months. Data obtained from the FMDQ on Wednesday showed that the exchange recorded N15.08tn turnover in January, N19.18tn in February, and N28.98tn in March.

In April, May and June, the FMDQ recorded N16.37tn, N20.49tn and N19.12tn, respectively. Turnover in the fixed income and currency market for the month ended January 31, 2019 was N15.08tn, representing a 14.85 per cent (N2.63tn) month-on-month decrease on the turnover of N17.71tn recorded in December 2018, and a 28.78 per cent (N3.37tn) year-on-year increase.

The FMDQ said the Treasury bills and foreign exchange market segments remained the major drivers of turnover in the FIC market, jointly accounting for 78.69 per cent of turnover in January and higher by 2.21 percentage points from their contribution to turnover in December.

Turnover in the FIC markets for the month ended February 28, 2019 was N19.18tn, representing a 27.19 per cent (N4.10tn) increase on the turnover recorded in January 2019 and a 52.38 per cent year-on-year increase from N12.59tn recorded in February 2018.

The Treasury bills and FX market segments remained the major drivers of turnover in the FIC markets in February, jointly accounting for 77.88 per cent of turnover, which was 0.81 percentage points lower than their contribution in January.

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