Stockbrokers to begin trading on FMDQ

Arrangements are being made for the commencement of trading by stockbrokers on the FMDQ Securities Plc.

Chairman, Association of Securities Dealing Houses of Nigeria, Onyenwechukwu Ezeagu, said the final report from the committee set up by the association’s governing council had been submitted.

“In our resolve to create new streams of income for our members, we intensified efforts through the FMDQ Committee to establish a trading relationship with the FMDQ.

The committee has submitted its final report and we are at the last stage of onboarding our members to trade on the FMDQ platform,” stated Ezeagu said during an annual general meeting of the association.

ASHON spokesman, Ify Ejezie, said the onboarding, training and fixing of applicable fees would be seamless, adding that the association has been at the vanguard of ensuring that its members take advantage of an array of business opportunities created by the emergence of more securities markets such as FMDQ and Lagos Commodities and Futures Exchange.

According to her, the move is expected to reverse the situation whereby stockbrokers are not active in trading fixed income securities on the FMDQ, whereas the financial instrument was the hub of the transaction on the Nigerian Stock Exchange in the past.

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