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A breakdown of activities in the segment during the period showed that money market and foreign exchange (FX) transactions dominated secondary market activity, accounting for 80.7 percent of the turnover
FMDQ Securities market recorded a total turnover of N21.7 trillion in its secondary market segment in October. The figure represents a month-on-month (MoM) decrease of 6.8 percent (₦1.57 trillion) and a year-on-year (YoY) increase of 60.27 percent (8.16 trillion) from the September 2023 and October 2022 figures, respectively.
A breakdown of activities in the segment during the period showed that money market and foreign exchange (FX) transactions dominated secondary market activity, accounting for 80.7 percent of the turnover. Also on the spot market, the total turnover for all products traded in the secondary market was ₦20.5 trillion in October 2023, representing a MoM decrease of 4.02 percent (₦0.86 trillion) from September 2023 figures.
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According to the exchange, the MoM dip in total spot market turnover was jointly driven by the 38.24 percent (₦3.04 trillion) and 11.89 percent (₦0.49 trillion) decrease in MM and FX turnover, offsetting the 29.04 percent (₦2.68 trillion) increase in Fixed Income (FI) turnover respectively. Further, the decline in MM turnover was jointly driven by a decrease in repos/buy-backs and unsecured placement/takings transactions respectively.
