FMDQ becomes member of ASEA
As part of its resolve to empower the financial market to become more innovative and credible in support of the Nigerian economy, FMDQ OTC Securities Exchange (FMDQ) is pleased to announce its admission as a ‘Full Member’ Exchange of the African Securities Exchanges Association (ASEA).
This achievement, according to the FMDQ would support its agenda for the transformation of the market with a view to upgrading it to international standards.
FMDQ explained that the ASEA status was ratified at the Association’s yearly general meeting (AGM), which opened the ASEA conference on November 15, 2015 in Johannesburg, South Africa.
According to FMDQ, a Full Member status entitles the firm to vote during the Association’s meeting, participate fully in ASEA events; be featured in publications, as well as the privilege to nominate a representative for election to the ASEA Executive Committee.
The Head, Strategy & Corporate Communications Group at FMDQ, Ms. Kaodi Ugoji said: “this admission is a positive step towards making the markets globally competitive and provides, among others, a platform for unlocking the potentials in the Nigerian capital markets through mutual networking and communication with various member Exchanges in Africa.
“Membership of the ASEA is an important reference for many international investors and the status reflects FMDQ’s commitment to implementing the highest standards in line with international best practices.”
She pointed out that the ASEA works with its member Exchanges to enhance their global visibility and competitiveness, with a view to attracting capital inflows to the African capital markets, providing authoritative information portal and aggregated statistics on African markets and Exchanges respectively.
The Association also helps in boosting market development and capacity building among member Exchanges and initiating strategic alliances on behalf of its Member Exchanges.
“FMDQ, as an OTC securities exchange and self-regulatory organisation with a key mandate to foster sustainable development in the Nigerian financial market, is resolute in driving its “GOLD” agenda – Global Competitiveness, Operational Excellence, Liquidity and Diversity – in support of the Nation’s economicdevelopment,” she added.