FMDQ Securities Exchange Limited, on Tuesday, announced the registration of a ₦20bn Commercial Paper (CP) Programme by the Parthian Partners Limited on its platform, a move it said strategically positions the company to raise short-term finance from the Nigerian Debt Capital Market in the future.
Parthian Partners, according to a statement by FMDQ provides competitive wholesale brokerage services in the African OTC markets, and trades in Federal Government of Nigeria (FGN) Bonds and Treasury Bills, State Government Bonds, Local Contractor Bonds, Corporate Bonds and Eurobonds, providing regular market updates and liaising with market participants and regulators in the African markets to provide independent research on the African fixed income market.
FMDQ, the statement added, championed the resuscitation of the CP market to provide corporate and commercial businesses with the opportunity to meet their short-term funding requirements, whilst building their profiles within the Nigerian DCM.
This, it continued, is in a bid to support the growth and revitalisation of the Nigerian economy.
In addition to its efficient registration process, FMDQ Exchange, said it will through its Quotation Service, provide stakeholders and market participants with credible and real-time information as part of the Exchange’s commitment to facilitate transparency in the fixed income market space.