FMDQ Commemorates Its Fifth Year Anniversary

…Set To Host Maiden Gold Awards For The Fixed Income, Currencies And Derivatives Markets

In what became a much-talked about market event, the Nigerian financial market regulators,
architects and founding treasurers, subject-matter experts and indeed, a host of other domestic and
international stakeholders gathered to witness the launch of a game-changing market infrastructure, FMDQ
OTC Securities Exchange (“FMDQ or the OTC Exchange”), onto the Nigerian financial markets landscape, on
November 7, 2013.

This marked the beginning of a unique and much-needed revolution for the Nigerian
financial markets, particularly the fixed income, currencies and derivative markets space, which market
analysts believe have witnessed an unprecedented and favourable change – increase in operational
efficiency, reduction in transaction costs, product innovation, market development, and increased
opportunity for creation of diversified market activities, amongst others.

The OTC Exchange, having sustained its commitment through the years to transform and make the Nigerian
financial markets “GOLD” – Globally Competitive, Operationally Excellent, Liquid and Diverse, with the
invaluable support of market regulators including the Securities and Exchange Commission and the Central
Bank of Nigeria, among others, and stakeholders including the Financial Markets Dealers Association, will on
Wednesday, November 7, 2018, turn five (5)!

To commemorate five (5) years of innovation, resilience, valueadding
and most importantly, immeasurable collaboration with its varied stakeholder groups, FMDQ has
announced that it will be embarking on a modest week-long series of commemoration activities, culminating
with the Inaugural FMDQ GOLD Awards on November 9, 2018, a first of its kind in the Nigerian fixed income,
currencies and derivatives markets, geared at recognising the commitments and invaluable contributions of
FMDQ’s market participants and stakeholders who have contributed towards the growth and development
of the markets.

According to the Associate Executive Director, Corporate Development, Ms. Kaodi Ugoji, “It has been an
extremely challenging but exciting run-up to five (5) years, from inception in November 2013 to date, for the
OTC Exchange.

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From the activation of the FMDQ Listings and Quotations Franchise which saw the eventual
listing of pioneer debt securities, including but not limited to the sovereign Eurobonds (first on a domestic
securities exchange), Green Bonds & Sukuk on the platform of the OTC Exchange; to product and market
development with the introduction of Short-Term Bonds, rejuvenation of the Commercial Papers market and
the establishment of FMDQ Clear, the first Central Clearing House in Nigeria, providing efficient post-trade
workflows to ensure settlement finality; and the launch of the FMDQ Academy to support the OTC
Exchange’s financial markets education drive for its stakeholders as well as FMDQ Next Generation Financial
Market Empowerment Programme (FMDQ-Next) – a learning and development initiative targeted at
students across all levels (primary, secondary and tertiary), as well as fresh graduates, within the country;
and finally, the recent hosting of the British Prime Minister, Theresa May, which followed the move to our
new business complex, Exchange Place, FMDQ has steadily continued to impact development of the markets
and by extension, the Nigerian economy.

She further stated that “in all of this, however, we recognise that the achievements over these past years
could not have happened without the immense support and commitment shown by our world of
stakeholders – from the regulators to our esteemed Members and other players in the Nigerian capital
market – and during this week as we reflect on all that has brought us this far, we are desirous of
acknowledging the collective feats achieved by us all within this period. Looking forward to our next five (5)
years, we remain unyielding in our commitment to continue to accelerate in our innovative capabilities to
provide unrivalled solutions that will aid the development of the Nigerian financial market in order to
transcend it to international standards.”

Launched as an over-the-counter (OTC) market and self-regulatory organisation, FMDQ has steadily deployed
product innovation and market development initiatives as well as provided the requisite market connectivity
and architecture needed to transform the markets within its purview.

The OTC Exchange is swiftly evolving
from a market organiser – driving market development and promoting transparency in the fixed income,
currencies and derivatives markets – to fully integrated and diversified exchange, impacting not only the
financial markets landscape, but also fostering economic through its four (4) strategic roles as a market
organiser; an adviser to financial services regulators; a financial markets diplomat promoting the positive
tenets of Nigeria; and very important, a catalyst for unlocking the much-needed infrastructure capital in
Nigeria.

Determined not to rest on its laurels, FMDQ will continue to challenge the norm and explore new frontiers
in fulfilment of its mission to empower the financial markets to be innovative and credible, in support of the
Nigerian economy.