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Investors commit N45.25trn in fixed income instruments in 4 months

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By Nkiruka Nnorom

INVESTORS committed N45.25 trillion in fixed instruments in the Over-the-Counter, OTC, market between January and April, 2017. This is contained in a data compiled by the FMDQ OTC Securities Exchange Plc for the month of May. Every month FMDQ compiles data on the transactions in the OTC market.

Breakdown of the trading activities for the four month period showed that trading activities in Treasury Bills, T.bills, contributed the largest to overall turnover, accounting for 48.58 per cent or N21.99 trillion of the market. Secured market transactions (Repos/Buy-backs), followed, accounting for N9.60 trillion or 21.22%, while FX market transactions ranked third, with N5.94 trillion total turnover, representing 20.20 per cent of the total OTC market turnover.

Bonds. On the other hand, contributed N4.07 trillion or 9.10 per cent of the total market turnover,while unsecured placement & takings, Money Market Derivatives and commercial papers accounted less than one per cent of overall market turnover.

Meanwhile, the top 10 dealing member firms netted N31.97 trillion, representing 70.66 per cent of the total turnover during the period, while the to three, which include Access Bank Plc, Ecobank plc and Stanbic IBTC Holdings Plc pulled N14.43 trillion or 45.12 per cent of the turnover.

Others in the top 10 league include United bank for Africa, UBA Plc, First bank of Nigeria Limited, Standard Chartered Bank, Diamond Bank Plc, FBN Merchant Bank Ltd, GT Bank Plc and Citibank Nigeria Ltd.

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