Bloomberg Partners With FMDQ for Nigerian Bonds Platform
Bloomberg's platform, jointly developed by the firm, FMDQ, and Nigerian market-makers, will operate on FMDQ's over-the-counter (OTC) securities exchange. The platform includes analytics tools, multi-dealer request-for-quote and order trading, and reporting tools, underpinned by straight-through processing (STP) across the trade lifecycle. It can be used as a surveillance platfrom by regulators and market supervisors to track activity.
"A well-functioning debt market needs an efficient technical infrastructure, bespoke trading rules, market surveillance and STP," says David Tamburelli, head of emerging markets product at Bloomberg. "Bloomberg's E-Bond system responds to those needs and we are delighted to collaborate with FMDQ to build a more transparent, liquid and efficient bond market in Nigeria."
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