The total turnover between January and April 2019 on the FMDQ OTC Exchange amounted to N79.61 trillion.
Trading activities in foreign exchange (Spot FX and FX Derivatives) contributed the largest to overall turnover, accounting for 37.99 per cent of the market.
Treasury bills transactions accounted for 37.60 per cent, whilst repurchase agreements (Repos)/buy-backs product categories accounted for 18.85 per cent, and bonds, unsecured placements & takings and money market derivatives representing 5.06 per cent, 0.48 per cent and 0.01 per cent respectively, of overall market turnover.
The top ten dealing member (Banks) accounted for 77.25 per cent which is N61.50 trillion of the overall turnover in the market, with the top three accounting for 43.09 per cent (N34.31 trillion of this sub-section of the market.
Stanbic IBTC Bank Plc, United Bank for Africa Plc and Access Bank Plc remained leaders in the value traded for the overall over-the-counter (OTC) market, ranking first, second and third respectively.
A review of market participation for bond listings revealed that of the twenty-nine FMDQ RMLs, only two were sponsors to bonds listed on the Exchange in the period.
Stanbic IBTC Capital Limited came first while FBNQuest Merchant Bank Limited came second in this category, with Stanbic IBTC Capital Limited sponsoring the N30.00 billion Stanbic IBTC Bank PLC Bond and FBNQuest Merchant Bank Limited sponsoring the N2.96 billion Tranche A & N2.32 billion Tranche B Series 2 Mixta Real Estate PLC Bonds.
For the period under review, the Commercial Paper market saw the participation of three RMQs out of thirty- four FMDQ RMQs.
The top three positions were occupied by FBNQuest Merchant Bank Limited, Stanbic IBTC Capital Limited and Coronation Merchant Bank Limited with market participation of 39.70 per cent, 24.35 per cent and 13.58 per cent respectively, of the total value of the CPs quoted.
Overall, Stanbic IBTC Capital Limited was the most active sponsor, contributing N54.35 billion to the fixed income primary markets, having facilitated the admission of N30.00 billion in bonds and N24.35 billion worth of CPs to the FMDQ platform.
FBNQuest Merchant Bank Limited was next with circa N45.00 billion in securities admissions (N5.28 billion worth of bonds and N39.71 billion worth of CPs), whilst Coronation Merchant Bank Limited, in 3rd place, sponsored the quotation of N13.58 billion worth of CPs.