FMDQ collaborates with Proshare on FX price ticker tape

As a continuous developmental move to boost its enlightenment and engagement initiatives, Proshare, Nigeria in collaboration with FMDQ OTC Securities Exchange on Wednesday in Lagos launched the FMDQ price ticker tape and Fixings Data Segment on the ProshareNG’s homepage.

The FMDQ price ticker is a representation of the intraday and closing market prices/rates of benchmark bonds and treasury bills traded on the Exchange, while the FMDQ Fixings Data widget depicts independent fixings of FMDQ’s fixed income and FX markets. These Fixings include the Nigerian Inter-Bank Foreign Exchange Fixings (NIFEX), Nigerian Inter-Bank Offered Rate (NIBOR) and Nigerian Inter-Bank Treasury Bills’ True Yield (NITTY).

According to a press statement from Proshare, the collaboration with FMDQ marks a long- term partnership that would see Proshare disseminate more credible data from the Exchange, which is the information repository for all activities in the Nigerian fixed income (money, repo, commercial papers, bonds, treasury bills), FX and derivatives markets, as it does for other markets; thereby making Proshare a one-stop hub for all Nigerian financial market related data, insights and analysis.

Mr. Olufemi Awoyemi, the Founder/Managing Director, Proshare Nigeria, speaking on this announcement expressed delight that this partnership was coming to fruition, having asserted earlier in the year that the new Nigerian financial market, rather than being about the equities market alone, is an embodiment of the FMDQ and NASD OTC markets, which should not be ignored. He further stated: “with partners like FMDQ, you can be sure not to get it wrong with Proshare”.

Speaking further about this collaboration, Mr. Bola Onadele Koko, the Managing Director/CEO of FMDQ, said, “FMDQ, in its capacity as a market organiser, and being the information repository for the markets under its purview, is delighted to partner with Proshare, a leading capital market-focused news site to ensure that these highly significant, yet largely under-reported markets are broadcast to a wider and more diverse audience.  As a securities exchange keen on promoting a transparent and well-regulated market, FMDQ remains committed to making the Nigerian financial market globally competitive and operationally excellent”.

Having partnered with such renowned Exchanges within the Nigerian financial market, Proshare, being a forward thinking organisation, looks forward to bringing global markets closer to the Nigerian investing community as investment alternatives increase globally.