Arrangements are being concluded for the commencement of trading by stockbrokers on the FMDQ Securities Plc.
Chairman, Association of Securities Dealing Houses of Nigeria (ASHON), Chief Onyenwechukwu Ezeagu said the final report from the committee set up by the association’s governing council has been submitted.
“In our resolve to create new streams of income for our members, we intensified efforts through the FMDQ Committee to establish a trading relationship with the FMDQ. The committee has submitted its final report and we are at the last stage of onboarding our members to trade on the FMDQ platform,” Ezeagu said during the annual general meeting of the association.
Public Relations Officer, Association of Securities Dealing Houses of Nigeria (ASHON), Ms Ify Ejezie said the onboarding, training and fixing of applicable fees would be seamless.
She said ASHON has been on the vanguard of ensuring that its members take advantage of an array of business opportunities created by the emergence of more Securities Markets such as FMDQ, NASD OTC Plc and Lagos Commodities and Futures Exchange (LCFE).
According to her, the move is expected to reverse the situation whereby stockbrokers are not so active in trading fixed income securities on the FMDQ, whereas the financial instrument was the hub of transaction on the Nigerian Stock Exchange in the past.
– The Nation