Lagos – FMDQ OTC Securities Exchange on Thursday launched “FMDQ Price Ticker Tape’’ on Channels TV to enhance transparency and price discovery at the Nigerian financial market.
The News Agency of Nigeria (NAN) reports that Price Ticker Tape will show prices, yields and other data of securities listed on the FMDQ platform.
Speaking at the launching, Mr Bola Onadele, FMDQ Managing Director/Chief Executive Officer, said the partnership would increase the coverage of business and market news such as bonds, treasury bills and currency trading in the market.
Onadele described the partnership as a game changer in the financial market that would boost price discovery, transparency and integrity in the debt capital market.
He said that the product would change the landscape of the nation’s financial market with enhanced information available to market participants and investors.
According to him, investors with the price ticker tape will be opportune to see prices list of bonds, TBS and NIBOR among others.
“The role of technology in information dissemination is very important in the financial market,’’ Onadele said.
The managing director said that the collaboration would grow stronger over time with launch of other products beyond the ticker tape.
Onadele said that the product would make the financial market globally competitive.[pro_ad_display_adzone id=”70560″]
Also, Mr John Momoh, Chairman/ Chief Executive Officer, Channels Media Group, commended the company for the partnership that would transform the financial market.
Momoh said that Channels would continue to strive to cover more grounds in business news for financial market growth and development.
He said that the product would increase the volume of transactions on the FMDQ platform and, as well would enhance the debt capital market.
Mr Emmanuel Ukeje, Director, Financial Services, Central Bank of Nigeria (CBN), lauded both organisations for the initiative that would promote the market’s growth and development.
Ukeje said that FMDQ had transformed the financial market since inception and urged the management not to relent.
He added that “this is a giant step and initiative we are proud to be associated with because it promotes price transparency and discovery.’’
Ukeje also said that investors could not be cheated or short-changed in the market with the launch of the product. (NAN)