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FMDQ Launches Process for Onboarding of FX Corporate Clients as Market Ends Q2'17 Green

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Wednesday, July 05, 2017, 2.55 PM research@proshareng.com 

The Nigerian Equities Market sustained a positive stance for the fourth consecutive month, as NSEASI closed the month of June 2017 in the green zone with +12.27% gain as against +14.52% uptrend recorded in the month of May 2017; while NSE ASI YTD performance stands at +23.23% at the end of the month under review. 

Also, market indicator ended Q2 2017 with a whopping +29.79% gain as against -5.05% loss recorded in Q1 2017. 

On market development and regulations, the Nigerian Stock Exchange published the half year review of NSE market indices with new incoming companies revealed to replace the exiting entities. NSE 30 Index, NSE Lotus Islamic Index, NSE Insurance Index, and NSE Industrial Index are the indices that recorded changes in composition. 

Furthermore, the Securities & Exchange Commission extended the deadline on the issuance of physical dividend warrants and free e-dividend registration to December 31, 2017 from June 30, 2017 earlier announced. This extension became necessary following numerous requests received from the investing public. 

The FMDQ OTC markets in its June 2017 spotlight highlighted that the 12th Naira-settled OTC FX Futures Contract Matured and Settled on FMDQ on Wednesday, June 21, 2017. Other activities around the FMDQ OTC market are the Launch of the Process for Onboarding of FX Corporate Clients on FMDQ Website as well as the quotation of N16.18bn Worth of Commercial Papers by Sterling Bank Plc and FSDH Merchant Bank Limited. 

In this edition of The Nigerian Capital Market Service Report, we continue the updates of our data section with latest figures on Economic indicators & Upcoming Events in the market and economy. This is to ensure that we deliver a comprehensive capital market service report that helps cover and track innovations, developments as well as service issues in the market effectively. 

In all, the June 2017 SSS Quality Report is a snapshot and aide memoire of developments in our market - tracking milestones that the investing public should be aware of. Do feel free to share your opinions/observations and feedback with us vide research@proshareng.com 

Thank you.                                                                       

For: Analyst Editorial Board

Reshu BAGGA

CEO, The Analyst

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