ASHON confirms stockbrokers’ planned trading on FMDQ


By Peter Egwuatu

The Association of Securities Dealing Houses of Nigeria (ASHON) has confirmed that its members shall commence trading on the FMDQ Securities Plc any moment soon.

The Relationship Committee set up by the Association’s Governing Council is said to have submitted its final report for consideration and implementation.

Addressing ASHON’s members during the Zoom Annual General Meeting (AGM) the Chairman, Chief Onyenwechukwu Ezeagu confirmed that the final report of the Committee on collaboration with FMDQ had been submitted to the Governing Council .

“In our resolve to create new streams of income for our members, we intensified efforts through the FMDQ Committee to establish a trading relationship with the FMDQ. The Committee has submitted its final report and we are at the last stage of onboarding our members to trade on the FMDQ platform” said Ezeagu.

Corroborating him, the Association’s Public Relations Officer, Ms Ify Ejezie explained that the onboarding processes, trainingand fixing of applicable fees would be seamless.

ASHON has been on the vanguard of ensuring that its members take advantage of an array of business opportunities created by the emergence of more Securities Markets such as FMDQ, NASD OTC Plc and Lagos Commodities and Futures Exchange (LCFE).

The move is expected to reverse the current situation whereby Stockbrokers are not so active in trading fixed income securities on the FMDQ, whereas the financial instrument was the hub of transaction on The Nigerian Stock Exchange in the past.