FMDQ OTC Securities Exchange has announced its change from an OTC Market to a full-fledged securities exchange following necessary approvals by the nation’s capital market regulator, the Securities and Exchange Commission of its application to the effect.
The company, which was also previously known as FMDQ OTC Plc, is now known as FMDQ Securities Plc.
Consequently, the company has activated and operationalised two subsidiaries, namely the
FMDQ Clear Limited (FMDQ Clear) and FMDQ Depository Limited (FMDQ Depository).
According to the management, these new initiatives were undertaken to properly position the company to offer efficient post-trade services for the Nigerian financial market.
By its latest composition, the FMDQ Securities Plc has translated to a one-stop Financial Market Infrastructure (FMI) Group and an integrated platform to execute, clear and settle financial market transactions.
As part of the brand identity measures, the company on August 5 unveiled a new Logo for the FMDQ subsidiaries, thereby replacing each of their individual identities.
The management explained that the new FMDQ Logo, while maintaining its vibrant colours of deep blue, depicting trust, confidence, depth and stability; the bright gold, showing off passion, value, prestige, quality and prosperity; and a touch of cool grey, representing conservativeness, professionalism and sophistication, communicates FMDQ’s drive to “consistently move forward”.
While urging all stakeholders in the nation’s financial markets to update their records about the company based on these latest developments, the management restated the company’s commitment to the growth of the nation’s financial markets.
It assured: “As a stakeholder of FMDQ and the Nigerian financial markets, this update is for your information. Kindly update all records accordingly.
“We are excited about the opportunities ahead, and with your continued collaboration, remain committed to our transformation agenda and quest to align the Nigerian financial markets with global standards and best practices”, it added.