02 December 2016
visit http://www.wolterskluwerfs.com

Bloomberg, FMDQ launch new e-bond trading platform in Nigeria

17 March 2014  |  1601 views  |  0 Source: FMDQ

Bloomberg and FMDQ OTC PLC announce the launch of the Bloomberg E-Bond trading and market surveillance system, a new electronic trading system for Nigerian government bonds that today commenced operation under FMDQ's over-the-counter (OTC) market securities exchange.

Jointly developed by Bloomberg, FMDQ and the local market-maker community, the Bloomberg E-Bond system provides electronic trading and market surveillance tools for participants in Nigeria's N12 trillion (US $73 billion) fixed income market.

"As a newly established OTC market securities exchange, our goal is to empower the Nigerian OTC financial markets to be efficient, credible and globally competitive. With its potential to drive transparency and liquidity, we believe the introduction of the Bloomberg E-Bond system will help us to achieve those aims and we are pleased to work with Bloomberg to bring it to the Nigerian fixed income market," says Dipo Odeyemi, Divisional Head, Operations and Technology, FMDQ OTC PLC.

The Bloomberg E-Bond system provides a complete, consolidated marketplace for Nigerian government bonds, offering market participants a robust and flexible set of tools supporting the full trade workflow. This includes pre-trade price discovery and analytical tools, the ability to handle both multi-dealer request-for-quote (RFQ) and order trading, straight-through processing (STP) functionality and integrated trade capture and reporting tools. In addition, market oversight entities and regulators can use the system to review market activity and audit transactions.

"A well-functioning debt market needs an efficient technical infrastructure, bespoke trading rules, market surveillance and straight-through processing," says David Tamburelli, Bloomberg's Head of Emerging Markets Product. "Bloomberg's E-Bond system responds to those needs and we are delighted to collaborate with FMDQ to build a more transparent, liquid and efficient bond market in Nigeria."

Available to subscribers of the Bloomberg Professional service at EBND, the trading system is fully integrated with Bloomberg's data, news, analytics and communications tools to provide clients active in the Nigerian debt market with a single, comprehensive solution.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Find out moreVisit capgemini.comFind out more

Top topics

Most viewed Most shared
Royal Mint to issue digital goldRoyal Mint to issue digital gold
6030 views comments | 22 tweets | 21 linkedin
ING pulls plug on P2P payments app TwypING pulls plug on P2P payments app Twyp
5420 views comments | 16 tweets | 15 linkedin
R3 and Calypso to develop blockchain trade confirmation systemR3 and Calypso to develop blockchain trade...
5314 views comments | 13 tweets | 12 linkedin
EBA told that tougher authentication will have a "chilling" effect on single marketEBA told that tougher authentication will...
5284 views comments | 18 tweets | 20 linkedin
UK challenger bank Masthaven opens for businessUK challenger bank Masthaven opens for bus...
5210 views comments | 15 tweets | 13 linkedin

Featured job

to Six-Figure Base, Commission, Benefits
London, UK

Find your next job