Skip to main content

$354mm Settles as 9th OTC FX Futures Contract Matures on FMDQ


The OTC FX Futures market recorded a circa 25% increase in the notional amount matured in February 2017, $266.17mm, to $354.00mm, being the 9th Naira-settled OTC FX Futures contract, NGUS MAR 22 2017, which matured and settled on Wednesday, March 22, 2017, on FMDQ OTC Securities Exchange, the OTC FX Futures Exchange.
The NGUS MAR 22 2017 contract which stopped trading eight (8) days earlier, was valued against the Nigerian Inter-Bank Foreign Exchange Fixing (NIFEX) Spot rate as published by FMDQ on March 22, 2017; and brings the total value of contracts so far matured on the OTC FX Futures Exchange to $2.42bn, and about $6.24bn worth of OTC FX Futures contracts traded so far.
In its usual manner, the CBN refreshed the quotes for the existing 1- to 11-month contracts and introduced a new 12-month contract, NGUS MAR 28 2018, for $1.00bn at $/₦298.50. These quotes are available on FMDQ’s website.




Reference: https://www.fmdqotc.com/354mm-settles-as-9th-otc-fx-futures-contract-matures-on-fmdq/
Labels:

Comments

Post a Comment

Popular posts from this blog

CENTRAL BANK OF NIGERIA (CBN) Deputy Gov Disowns Fake e-mail Address.

Disclaimer CBN Deputy Gov Disowns Fake e-mail Address CBN Deputy Gov Disowns Fake e-mail Address The attention of the Central Bank of Nigeria (CBN) has been drawn to the activities of fraudsters impersonating some principal officers of the Bank in an attempt to defraud unsuspecting members of the public. Of particular concern to the Bank is the recent message sent from an e-mail purportedly belonging to the Deputy Governor, Corporate Services, Mr. Edward Lametek Adamu, transacting a phony business deal. We wish to inform all members of the public, particularly members of the social media community that officials of the CBN do not communicate with emails outside the @cbn.gov.ng domain. No principal officer of the Bank will transact business or ask you to transact business with any other platform outside those ending with @cbn.gov.ng. The CBN also wishes to warn the public that it will not be liable for any financial transaction which may have transpired between people and sca...
Post a Comment
Explore more »

Outreach event on the principles of disclosure discussion paper in Hong Kong

On 5 September 2017, the Hong Kong Institute of CPAs and the IASB will host a joint outreach event in Hong Kong on the IASB dis­cus­sion paper DP/2017/1 'Dis­clo­sure Ini­tia­tive — Prin­ci­ples of Dis­clo­sure'. The event will cover main elements of the  dis­cus­sion paper , including: “what con­sti­tutes effective com­mu­ni­ca­tion in the financial reports;” “what con­sti­tutes fair pre­sen­ta­tion of per­for­mance measures such as EBITDA;” “when, where and how financial in­for­ma­tion should be disclosed.” For more in­for­ma­tion, see the  press release  on the IASB’s website.
Post a Comment
Explore more »

New—and Important—Role for Professional Accountants in Assessing Human Rights Risk

  When law firms are hiring specialists focusing on human rights as advisors to business, business at large must take note. Over the last few months, at a range of events, I have heard first hand from such new professional legal associates of the importance of horizon scanning and the how the landscape is changing in regard to corporate responsibility. Human rights and business is an emerging area that is set to accelerate and, as no any business can rest assured without further investigation that their full supply chain is “clean”, assessing and addressing potential risk in this area is clearly also a role for the professional accountant . In recent years, the operating environment for business has changed irreversibly. Companies will be increasingly called to account to show what they have done to prevent disasters like the 2013 Rana Plaza garment factory collapse in Bangladesh that cost over a thousand lives. It is not only the clothing industry that is affected by human rig...
Post a Comment
Explore more »