FMDQ Securities Exchange posts N90.45trn turnover in 10 months

FMDQ OTC Securities Exchange market turnover in over-the-counter transactions between January to October, 2016 hits N90.45 trillion.
This is contained in a statistical data by the company in Lagos.
This was against N119.92 trillion posted by the company in the comparative period of 2015.
The amount included transactions in over-the-counter market for foreign exchange comprising of Treasury Bills (TBs), bonds and money market derivatives, among others.
An analysis of the transactions showed that TBs remained the most active, accounting for 38 per cent of the overall turnover followed by secured market transactions which accounted for 29 per cent.
 
It was followed by foreign exchange market transaction with 22 per cent of the turnover and FGN bonds accounted for eight per cent.
 
Unsecured placement and takings transacted three per cent of overall market turnover during the period under review.
 
The data also showed that 10 banks namely; United Bank for Africa (UBA), Access Bank, Stanbic IBTC and Ecobank Nigeria were among the 10 top dealing members during the period under review.
 
Others are First Bank of Nigeria Ltd, First City Monument Bank, Union Bank of Nigeria (UBN) and Standard Chartered.
 
The statistics stated that the 10 top dealing members accounted for 71 per cent of the overall turnover in the market, with the top three accounting for 28 per cent.