FX Corporates Onboarding

The Central Bank of Nigeria, on July 8, 2016, in its drive to increase transparency in the Nigerian FX market, issued a circular – Onboarding Corporates on FMDQ-Advised FX Trading and Surveillance Systems– directing that all FX-related trades executed by Authorised Dealers (i.e. Banks) and corporate institutions be executed through the FMDQ-advised FX Trading and Surveillance System, to facilitate professionalism and integrity in the Nigerian FX market.

Consequently, FMDQ hereby advises the process for onboarding to the Thomson Reuters FX Trading System – the FMDQ designated FX trading and surveillance system for the execution of all bank-corporate FX-related transactions in the Nigerian FX market.