The FMDQ OTC has so far traded OTC FX Futures contracts worth $10.38 billion, as the Central Bank of Nigeria, CBN, sustained its commitment to the market.
As it has been the norm for 17 maturities on FMDQ, the OTC FX Futures Exchange, the 18th OTC FX Futures contract matured and settled successfully on December 27, 2017.
Having ceased trading on December 20, 2017, in line with the OTC FX Futures Market Operational Standards, the 18th OTC FX Futures contract, NGUS DEC 27 2017, with notional amount $499.20 million, matured and settled on FMDQ.
This brings the total value of contracts so far matured on FMDQ to $7.35 billion. A new contract, NGUS DEC 26 2018, for $1 billion at $/N362.84 has been introduced by the CBN to replace the matured contract, Business Post reports.
Also, quotes on the existing 1- to 11-month contracts have been updated and are published daily as open contracts on FMDQ’s website at www.fmdqotc.com.
