FMDQ becomes full member of African Securities Exchanges Association

The status of FMDQ OTC Securities Exchange as a “full member” Exchange of the African Securities Exchanges Association (ASEA) was ratified at the Association’s Annual General Meeting (AGM), which opened the ASEA conference on November 15, in Johannesburg, South Africa.

As a member of ASEA since May 15, 2015, the ratification of FMDQ OTC Securities status is in line with the OTC Securities Exchange mission to empower the financial market to be innovative and credible in support of the Nigerian economy, and in support of its agenda for the transformation of the market with a view to upgrading it to international standards.

A full member status entitles FMDQ to vote during the Association’s AGM, fully participate in ASEA events, be featured in publications, as well as the privilege to nominate a representative for election to the ASEA executive committee.

Kaodi Ugoji, head, strategy and corporate communications group at FMDQ, said, “this admission is a positive step towards making the markets globally competitive and provides, among others, a platform for unlocking the potentials in the Nigerian capital markets through mutual networking and communication with various Member Exchanges in Africa.”

She added: “Membership of the ASEA is an important reference for many international investors and the status reflects FMDQ’s commitment to implementing the highest standards in line with international best practices.”

The ASEA works with its Member Exchanges to enhance their global visibility and competitiveness, with a view to attracting capital inflows to the African capital markets, providing an authoritative information portal and aggregated statistics on African markets and Exchanges, respectively, boosting market development and capacity building among Member Exchanges and initiating strategic alliances on behalf of its Member Exchanges.

FMDQ, as an OTC securities exchange and self-regulatory organisation with a key mandate to foster sustainable development in the Nigerian financial market, is resolute in driving its “GOLD” agenda – Global Competitiveness, Operational Excellence, Liquidity and Diversity – in support of the nation’s economic development.

 

Iheanyi Nwachukwu