FMDQ, S&P Dow partnership will create benchmarks for Nigeria’s domestic fixed income markets


FMDQ OTC Securities Exchange in collaboration with S&P Dow Jones Indices, the world’s leading provider of financial market indices, has commenced co-branding of indices with the successful transition of Nigeria’s foremost Sovereign Bond Index.

The index, known as S&P/FMDQ Nigeria Sovereign Bond Index, was formerly branded as S&P Nigeria Sovereign Bond Index, and tracks the performance of local currency denominated sovereign debt publicly issued by the federal government in the domestic market.

Both organisations had in 2017 announced the signing of a cooperation agreement to create and launch co-branded fixed income indices. According to FMDQ in a statement, the successful transition of the S&P/FMDQ Nigeria Sovereign Bond Index marked the activation of the inaugural co-branded index under the agreement.

It stated that a range of other S&P/FMDQ Fixed Income indices would be developed under the agreement. Alex Matturri, CEO of S&P Dow Jones Indices said: “We are pleased to collaborate with FMDQ to create benchmarks for Nigeria’s domestic fixed income markets. This is S&P Dow Jones Indices’ first ever agreement with an Africa-based securities exchange to offer fixed income indices.

“The successful transition of the S&P/FMDQ Nigeria Sovereign Bond Index marks the beginning of our joint efforts to establish a more transparent environment for market participants to gain insights into the Nigerian capital market” According to Mr. Bola Onadele. Koko, Managing Director/CEO, FMDQ OTC Securities Exchange, “FMDQ, as part of its “GOLD” (Global Competitiveness, Operational Excellence, Liquid & Diverse) agenda for the Nigerian financial market, is committed to developing and increasing the market accessibility for all stakeholders including the investors.

“We are delighted to collaborate with S&P Dow Jones Indices to further deepen the markets through these index-based solutions and measures. As we see more domestic and global demand, for diverse and innovative investment products, the S&P/FMDQ index family will critically serve to raise the global exposure of the Nigeria fixed income assets and represent an opportunity to increase trading flows to the Nigerian financial market.”

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Samson Gbenga Salau [Editorial Board Adviser] Gbenga Samuel Salau is a professional journalist with over 17 years experience in journalism, he is a graduate of Communication and Language Arts, University of Ibadan. On completion of his youth service, he joined The Guardian as a freelance journalist and was later absorbed as a staff. While in the University, he was a campus journalist reporting for the Independence Hall and Faculty of Arts Press Clubs. As a campus journalist, he won the following awards; Independence Hall Press Best News writer; University of Ibadan Union of Campus Journalists’ Best News Reporter/Writer; First Runner-up, Reuben Abati Award for Investigative Journalism; Association of Faculty of Arts Students’ Press Best Reporter; University of Ibadan Union of Campus Journalists’ Best Political Writer; Winner, Reuben Abati Award for Investigative Journalism, and University of Ibadan Union of Campus Journalists’ Best Interviewer. He served the Association of Communication and Language Arts Students, as the Public Relation Officer, the same year he was appointed the News Editor of the Association of Faculty of Arts Students Press. The following session, he was made the General Editor, and a member of the 13-man University of Ibadan Students’ Union Transition Committee. As a reporter in The Guardian, in 2014, he won the Promasidor Quill Award Best Report on Nutrition and DAME Business Reporting category. In the 2015 edition of the Promasidor Quill Award, he won the best Report on Nutrition and Brand Advocate Categories, while in 2016, he won the NMMA Print Journalist of the Year, first runner-up Golden Pen Reporter of the Year and SERAs CSR Awards. Gbenga Salau loves traveling, reading, and listening to songs with good lyrics no matter the genre.

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