November 2, 2016/Proshare

Proshare today, completed the market coverage it set out to achieve this year – creating a nexus between the NSE, NASD and FMDQ markets; for the discerning investor. 

Consistent with its continuous development project; Proshare – Nigeria’s premier economy and financial information hub, in collaboration with FMDQ OTC Securities Exchange (“FMDQ” or “the Exchange”), Nigeria’s foremost debt capital and foreign exchange (FX) focused securities exchange, today launched the FMDQ Price Ticker Tape and Fixings Data Segment on the Proshare homepage. 

The FMDQ Price Ticker is a representation of the intraday and closing market prices/rates of benchmark bonds and treasury bills traded on the Exchange, while the FMDQ Fixings Data widget depicts independent fixings of FMDQ’s fixed income and FX markets. These Fixings include the Nigerian Inter-Bank Foreign Exchange Fixings (NIFEX), Nigerian Inter-Bank Offered Rate (NIBOR) and Nigerian Inter-Bank Treasury Bills’ True Yield (NITTY).

This collaboration with FMDQ marks a long- term partnership that would see Proshare disseminate more credible data from the Exchange, which is the information repository for all activities in the Nigerian fixed income (money, repo, commercial papers, bonds, treasury bills), FX and derivatives markets, as it does for other markets; thereby making Proshare a one-stop hub for all Nigerian financial market related data, insights and analysis. 

Mr. Olufemi Awoyemi, the Founder/Managing Director, Proshare Nigeria, speaking on this announcement expressed delight that this partnership is coming to fruition, having asserted earlier in the year that the new Nigerian financial market, rather than being about the equities market alone, must reflect and become an embodiment of the other markets that define the capital market space i.e. FMDQ and NASD OTC markets, which can and must no longer be ignored  or lost in tradition.  

He made the case for inorganic leverages that would necessitate partnerships with operators/SRO’s like the  FMDQ and NASD to deliver on this global coverage of the Nigerian capital markets. This, he believes would represent the minimum a discerning platform like Proshare must deliver to the market. Thus, today represents a the beginning of a work-in-progress to deliver for the market a wholesome understanding of the capital markets and investment options for individuals.  

Speaking further about this collaboration, Mr. Bola Onadele. Koko, the founding Managing Director/CEO of FMDQ, said, “FMDQ, in its capacity as a market organiser, and being the information repository for the markets under its purview, is delighted to partner with Proshare, a leading capital market-focused news site to ensure that these highly significant, yet largely under-reported markets are broadcast to a wider and more diverse audience.  As a securities exchange keen on promoting a transparent and well-regulated market, FMDQ remains committed to making the Nigerian financial market globally competitive and operationally excellent”.   

Having partnered with other renowned Exchanges within the Nigerian financial market over the last ten (10) years, Proshare, a thought-led organization; looks forward to bringing global markets closer to the Nigerian investing community, and will continue to play its role in expanding the global investment alternatives open to investors in emerging markets.