AFEX and FMDQ Sign MoU to Promote Product Innovation for Nigeria's Capital Market

Proshare

Thursday, March 05, 2020 /09:17 AM / By FMDQ / Header Image Credit: Twitter; @FMDQGroup


In a signing ceremony which held on March 4, 2020, at the AFEX Commodities Exchange Limited (AFEX) offices in Abuja, FMDQ Holdings PLC ("FMDQ Group" or "FMDQ") and AFEX formalised their partnership by executing a Memorandum of Understanding (MoU), solidifying their mutual interest in developing products to deepen the Nigerian capital market.

 

The collaboration between FMDQ and AFEX recognises the importance of product innovation to market development and encouraging participation of a wider swathe of investors in the capital market. Holding the promise for developing new markets, the partnership will help deliver new initiatives focused on deeping the Nigerian capital market.

 

Key on the roster of positive impact that will stem from the partnership between the two Securities and Exchange Commission ("SEC")'s-registered Exchanges is the unlocking of additional sources of finance for the agriculture sector in Nigeria. Products developed under this new partnership will support innovative financing structures for the sector that will leverage AFEX's established infrastructure and supply chain network and FMDQ's extensive experience as innovators in the Nigerian financial markets.

 

Speaking to stakeholders present at the signing ceremony, Mr. Ayodeji Balogun, Chief Executive Officer of AFEX, said "AFEX is on a path to building Africa's second commodities derivative market, and this partnership sets the tone for that journey. We are extremely proud to be collaborating with FMDQ, as this helps our goal of increasing our product offerings to investors. We see a clear path to product innovation that will unlock a wider range of products that are able to be traded within Nigeria's capital markets, promoting broad-based wealth creation that's accessible to every Nigerian."

 

According to the Chief Executive Officer, FMDQ Group, Mr. Bola Onadele. Koko,  "We are delighted to announce this collaboration agreement between FMDQ and AFEX. As members of the SEC's Implementation Committee on Commodities Trading Ecosystem, an area of focus for this partnership will be the Nigerian Agricultural Commodities Ecosystem. Our goal at FMDQ is to support the growth of the sector through commercial and market-driven propositions. Through the partnership, we will be introducing new products aimed at de-risking the value chain, attracting capital market funding to the sector and diversifying the existing products available to investors in this space."

 

In the course of the event, both parties reiterated the need for continuous cooperation, alluding to the frontloading of relevant initiatives and campaigns to educate the market on the results of product and market development activities.

 

Proshare Nigeria Pvt. Ltd.


Related News - AFEX

  1. Ginger Prices Surge Higher - AFEX Commodities Weekly Report 210220
  2. Open Market Prices Take a bullish Turn - AFEX Commodities Weekly Report 210220
  3. Export Crops Maintaining Gains in Price - AFEX Commodities Weekly Report 140220
  4. Export Crops face Bullish Trend- AFEX Commodities Weekly Report 060220
  5. Commodities Prices Maintain Steady Sail - AFEX Commodities Weekly Report 230120
  6. Global Economic Slowdown Pressured Commodity Performance in 2019
  7. AFEX Commodities Exchange Secures Investment from Consonance Investment Managers
  8. AFEX Cocoa Outlook for 2019 and 2020 Season
  9. Paddy Rice Markets in 2019: A Primer on AFEX's Outlook
  10. AFEX Prepares for New Season with Fresh Products and Outlook

 

Proshare Nigeria Pvt. Ltd.


Related News - FMDQ

  1. FMDQ, FC4S Lagos, UNEP, Others Kick-Off the Nigerian Green Tagging Project
  2. FMDQ Restates Commitment To Driving Efficiency In Nigeria's Infrastructure Development
  3. FMDQ Exchange Admits SFS Fixed Income Fund To Its Platform
  4. FMDQ Exchange Lists The Primero BRT Securitisation SPV Bond
  5. Sanwo-olu Launches Financial Centre For Sustainability In Lagos, FMDQ To Serve As Secretariat
  6. FMDQ Securities Depository Goes Live, To Enhance Market Efficiency

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.
READ MORE:
Related News
SCROLL TO TOP