NASD Plc, the over-the-counter market for trading in unlisted shares and other securities, has flagged off trading in unlisted fixed income securities.
The trading in unlisted fixed income securities widened the scope of operations of the NASD, which had built up market capitalization of N415.62 billion in unlisted shares by the end of May.
A management report indicated that the first transaction on fixed income securities had already been consummated by two institutional investors, who swapped a corporate bond with five years to maturity.
The management of the NASD stated that the trading on fixed income securities was in line with the platform’s aim to create liquidity for all unlisted securities. The NASD’s portal will trade on unlisted fixed income instruments that are duly registered with the Securities and Exchange Commission (SEC).
NASD said:“We will continue to build more liquidity and transparency in the secondary market for unlisted securities.”
