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Investors Trade N20.5trn FX Derivatives, Bonds, T-Bills, Others

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By Aduragbemi Omiyale

The fixed income market recorded a significant value of transactions in December 2021 as data obtained by Business Post showed that trades worth N20.5 trillion were executed by investors.

According to FMDQ Securities Exchange, which tracks transactions in the market, repurchase agreements/buy-backs, foreign exchange (FX) deals and open market operations (OMO) bills dominated the ecosystem in the period under review.

Repurchase agreements/buy-backs accounted for N5.0 trillion last month, followed by forex with N3.6 trillion, OMO bills with N3.5 trillion and FX derivatives with N3.2 trillion.

In the month, traders bought and sold treasury bills worth N1.4 trillion, while CBN special bills attracted N2.1 trillion, with investors staking N1.5 trillion on the FGN bonds.

The data also indicated that in the final month of last year, Eurobonds recorded trades valued at N167.5 billion, while unsecured placements/taking attracted N68.1 billion, with others bonds recording trades worth N8.7 billion.

However, the trio of promissory notes, money market derivatives and commercial papers recorded no transaction in the month under consideration.

It was observed that the country’s fixed income market posted an average daily turnover of N892.9 billion.

FMDQ, in line with fulfilling its mandate to provide transparency to the market, publishes monthly turnover figures across all the products traded on its platform.

The data is collated from its dealing members on a weekly basis and represents trades executed between dealing members, dealing members & clients, and dealing members and the Central Bank of Nigeria (CBN).

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