FMDQ OTC Securities Exchange has admitted 10 million units of the Vetiva S&P Nigerian Sovereign Bond Exchange Traded Fund (“VS&P ETF”) on its platform.
It becomes the second fund to be listed on the OTC Exchange, following the Greenwich Plus Money Market Fund.
FMDQ, in a statement, said: “The listing of the VS&P ETF will serve to drive increased confidence in the possibility of the nation’s investment climate, and the Fund will undoubtedly enjoy the prestige provided by FMDQ’s listings and quotations service The FMDQ remains unyielding in its mandate to revolutionize and promote the development of the Nigerian financial markets.” It is strategically positioned to boost the development and competitiveness of the markets under its purview. In the fixed income market, specifically, the exchange provides a most reliable platform for the registration, listing, trading and valuation of debt securities.
The VS&P ETF, as part of the benefits for securities listed on FMDQ’s platform, will be availed global visibility through the OTC Exchange’s corporate website and the FMDQ-Bloomberg E-Bond Trading System.
Looking ahead into 2017, FMDQ will remain committed to the delivery of its mandate, leveraging on, as it must ensure success, the concerted and collaborative efforts of its stakeholders, to support economic development pertinent to the resuscitation, where applicable, and growth of the Nigerian financial markets.