FMDQ on Monday announced a strategic partnership with Thomson Reuters that will entail providing FMDQ access to Thomson Reuters’ innovation Lab in Cape Town, South Africa, to drive innovation in FX, Fixed Income, Risk Management and the Financial Market.
The partnership will be a close working relationship which will cut across their continental and global offices said FMDQ in a statement.
According to FMDQ, the strategic capacity deepening collaboration will help drive liquidity and enhance the visibility of the Nigerian financial market to domestic and international investors.
At a signing ceremony on 27 July 2018, the two organisations committed to combine forces to help drive Nigeria’s global competitiveness and visibility to global investors.
“We are pleased to be formalising our partnership with Thomson Reuters as we cooperate towards the development of the Nigerian financial markets,” Bola Onadele Koko, managing director/CEO, FMDQ OTC securities exchange said.
“Having sought a like-minded company with similar values and drive to FMDQ, I believe that this partnership will see both parties leveraging on the knowledge, experience, expertise and uniqueness of one another in a bid to deepen the markets’ capacity and enhance its visibility to domestic and international investors, he added.”
According to Sneha Shah, managing director for Africa at Thomson Reuters, Thomson Reuters has been investing in Nigeria and Africa for over 100 years, and has worked closely with FMDQ and the Central Bank of Nigeria to support the development of the market over the years.
She said “FMDQ has been a key driver of many of the financial market innovations coming from Nigeria, and these are going to be important for other developing markets as well.”
She added that “Nigeria is an economic giant of West Africa and the continent and it is vital that global companies who want to reach the fastest growing markets in the world have access to the opportunities here.
We are excited about the opportunity this partnership brings to help drive sustainable long-term investment into Nigeria.”
Disclosing other parts of the action plan, the FMDQ said joint financial markets events that promote transparency and liquidity as well as skills training to educate the market will be conducted.