FMDQ, Thomson Reuters partner to strengthen Nigerian financial market

THOMSON Reuters, the world’s leading source of intelligent information for businesses and professionals, and Nigeria’s foremost debt capital and OTC Exchange, FMDQ OTC Securities Exchange have announced a strategic collaboration to deepen capacity to help drive liquidity and enhance the visibility of the Nigerian financial market to domestic and international investors.

Making the announcement at a Signing Ceremony on Friday, the two organisations committed to combining forces to help drive Nigeria’s global competitiveness and visibility to global investors.

In a statement Mr Bola Onadele Koko, Managing Director/CEO, FMDQ OTC Securities Exchange said: “We are pleased to be formalising our partnership with Thomson Reuters as we cooperate towards the development of the Nigerian financial markets.

Having sought a like-minded company with similar values and drive to FMDQ, I believe that this partnership will see both parties leveraging on the knowledge, experience, expertise and uniqueness of one another, in a bid to deepen the markets’ capacity and enhance its visibility to domestic and international investors, he added.”

Sneha Shah, Managing Director for Africa at Thomson Reuters said, “Thomson Reuters has been investing in Nigeria and Africa for over 100 years, and has worked closely with FMDQ and the Central Bank of Nigeria to support the development of the market over the years. FMDQ has been a key driver of many of the financial market innovations coming from Nigeria, and these are going to be important for other developing markets as well.

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“Nigeria is an economic giant of West Africa and the continent and it is vital that global companies who want to reach the fastest growing markets in the world have access to the opportunities here. We are excited about the opportunity this partnership brings to help drive sustainable long-term investment into Nigeria.”

Part of the action plan includes conducting joint financial markets events that promote transparency and liquidity as well as skills training to educate the market

As part of this partnership, Thomson Reuters and FMDQ would work closely across their continental and global offices, including providing FMDQ access to Thomson Reuters’ Innovation Lab in Cape Town, South Africa, to drive innovation in FX, Fixed Income, Risk Management and the Financial Market.

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