FMDQ Exchange is positioned to providing the secondary market and other financial market stakeholders with world-class market governance and market development services in support of the Exchange’s objectives of fostering global best practices in the Nigerian financial market.
As an administrator within the definition of the International Organisation of Securities Commissions (“IOSCO”) Principles for Financial Benchmarks (“PFB”), FMDQ Exchange currently
administers three (3) Benchmarks in the Nigerian financial markets, namely:
1. The Nigerian Autonomous Foreign Exchange Fixing (“NAFEX”)
2. The Nigerian Inter-Bank Offered Rate (“NIBOR”)
3. The Nigerian Inter-Bank Treasury Bills’ True Yield Fixing (“NITTY”)
Statement of Compliance with IOSCO PrinciplesIndependent Benchmark Audit Report
As stipulated in IOSCO Principles for Financial Benchmarks for Administrators, to protect the integrity and independence of Benchmark determinations, Administrators should document, implement and enforce policies and procedures to address circumstances which may occurs over the course of the Benchmark administration process. In recognition of the importance and significance of all its Benchmarks to strengthen and stabilise the financial system, FMDQ has developed the FMDQ Benchmarks Policies in line with Principle 3, 11, 12, 13 and 16.
View the FMDQ Benchmark Policies:
Benchmark Control FrameworkComplaints PolicyError PolicyStakeholder Consultation Policy