Skip to Content

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

Closed
by November 27, 2016 General

Download:DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS FMDQ Launches Debt Capital Market Development Project By Goddy Egene As an innovation-driven exchange focused on revolutionising the Nigerian financial markets, FMDQ OTC Securities Exchange (FMDQ) has set up the Debt Capital Market Development (DCMD) Project to ensure the effective implementation of the recommendations drawn from the widely attended Debt capital market (DCM) workshop in 2015. The DCM workshop, which was organised by FMDQ, in collaboration with the International Finance Corporation (IFC) and with the support of SEC, was themed “The Nigerian Debt Capital Markets – Towards a Brighter Future.” The sole aim of the workshop was to harness the capacity and potential of the domestic DCM, and facilitate the exchange of ideas for enhancing and deepening the Nigerian financial market. The workshop, which was attended by domestic and international financial market experts and regulators, considered various challenges limiting the growth of the Nigerian DCM and arrived at key decisions that would galvanise the Nigerian DCM to enable it reach desirable heights within the African and global financial markets. According to the exchange, the resolutions from the workshop have been translated into the Nigerian DCM Transformation Roadmap to be executed through the DCMD Project. “The DCMD Project, having received the unrivalled support of the apex regulator, SEC, was officially launched during the Commission’s third Quarter Capital Market Committee Meeting, on November 24, 2016. Its focus on identifying and implementing quick-win strategies that would transform the Nigerian DCM into a world-class, properly functioning DCM by 2020 drawing strongly from SEC’s 10-year Nigerian Capital Market Master Plan (NCMMP), with the DCMD Project seeking to fast-track the realisation of the DCM initiatives in the NCMMP,” FMDQ said. It added that the vision of the DCMD Project is also aligned with the Financial System Strategy (FSS) 2020 initiative, which is aimed at making Nigeria one of the top 20 economies in the world by 2020. The project’s governance structure includes a project implementation team, consisting of three levels of implementation committees – Steering, Transformation and Sub-Committees – charged with the responsibility of brainstorming on the initiatives required for stimulating the market’s development and executing the DCM Transformation Roadmap. They will draw from the experience of benchmark jurisdictions (including Malaysia, Mexico, India, Singapore, South Africa) where their debt capital markets have successfully played the key role of supporting the growth and development of their countries’ economies. “At the end of the DCMD Project, it is expected that the Nigerian DCM will surpass its peers in Africa in terms of diversity of products (including plain vanilla products and derivatives), liquidity, credibility and transparency and indeed position Nigeria as the ultimate investment destination in Africa,” the exchange said. ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,(c) 2016 THISDAY NEWSPAPERS LTD. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Previous
Next