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April 18, 2021

NewsBusiness

Nigeria news and business

FMDQ Exchange Admits Parthian Partners’ N20bn Commercial Paper

The Nigerian Debt Capital Market (“DCM”) has continued to witness significant activity among corporates seeking a viable avenue to raise capital to meet their financing needs.

To this end,FMDQ Securities Exchange Limited (“FMDQ Exchange) has announced the registration of the Parthian Partners Limited N20 billion Commercial Paper (CP) Programme to its platform.

Theregistration of this CP Programme strategically positions Parthian Partners Limited (Parthian Partners) to raise short-term finance from the DCM with speed at a time in the future when it determines suitable, through CP issues within the CP Programme limit.​

Insupport of the growth and revitalisation of the Nigerian economy, FMDQ championed the resuscitation of the CP market to provide corporate and commercial businesses with the opportunity to meet their short-term funding requirements, whilst building their profiles within the Nigerian DCM.

In addition to its commendable and efficient registration process, FMDQ Exchange, through its Quotation Service, will provide stakeholders and market participants with credible and real-time information as part of the Exchange’s commitment to facilitate transparency in the fixed income market space.​

ParthianPartners provides competitive wholesale brokerage services in the African OTC markets, and trades in Federal Government of Nigeria (FGN) Bonds and Treasury Bills, State Government Bonds, Local Contractor Bonds, Corporate Bonds and Eurobonds, providing regular market updates and liaising with market participants and regulators in the African markets to provide independent research on the African fixed income market.

FMDQGroup is Africa’s first vertically integrated financial market infrastructure (FMI) group providing a one-stop platform for the seamless and cost-efficient execution, risk management, clearing, settlement and depository services, as well as data and information services across the debt capital, foreign exchange and derivatives markets in Nigeria.

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