NSE, FMDQ not in competition to control bond trading….Abbey

Against speculations in many quarters that the FMDQ has fully taken over bond trading and listing from the Nigeria Stock Exchange (NSE), the two trading platforms have never been in competition and are complementary.

President, Charted Institute of Stockbrokers (CIS) Mr. Oluwaseyi Abbey disclosed to Daily Times in an interview on Sunday that the two trading platforms have remained very active in debt instrument trading, and that while the NSE is charged with retail bond trading, the FMDQ takes charge of whole sale debt instrument transactions.

He said that the Nigerian stock exchange have  created platform to break down debt instrument trading on the exchange at the retail level, adding that both NSE and FMDQ are platforms for trading.

“FMDQ is platform for debt instrument, while the NSE is platform for both equities and debt instrument” Abbey said.

At the recent inauguration of approved stock brokers, a call was made for the newly admitted brokers to works towards among other things, boosting the debt instrument market of the NSE, of which the FMDQ appeared to have taken full control. ‘You have to bring in your contribution to ensure that active bond trading is achieved” a senior broker had urged the newly inducted brokers.