ga('send', 'pageview');

Naira Settled Currency Futures Open Interest Report @ October 27, 2016


By Quantitative Financial Analytics


The FMDQ NIFEX Spot increased by N0.63 or 0.2% ending the day at a rate of N318.125 against the previous day’s rate of N317.5 Source: Quantitative Financial Analytics

Open Interest and Volume Analysis


Open interest in currency futures increased by 0.39%, (13.31) from 3,426.95 to 3,440.26 arising from additional notional purchases of  $12.6 and $0.7 million contracts of NGUS SEP 20 2017 and NGUS NOV 23 2016 respectively.

ALSO READ  Savannah Steps up Nigeria’s Seven Energy Acquisition Plan

Mark to Market Analysis and Attribution

The estimated Mark to Market (MTM) of open interest now stands at N200.36 billion, an increase of 1.49%, (N2.9 billion) over previous day’s Mark to Market value of N197.4 billion. The increase in MTM is due majorly to the rate increase which contributed N1.98 billion to the change while the additional purchases gave rise to +N0.96 change in MTM

ALSO READ  N25b ETF: Lagos Issues Letters to Beneficiaries


The NGUS OCT 26 2016 matured and has been replaced with NGUS OCT 25 2017. The next futures in line on the maturity continuum is the NGUS NOV 23 2016 with current notional of $382 million and maturity date of November 23, 2016. If this was to mature today, the short position holder will pay N12.362 billion.

ALSO READ  Nigeria Grows Foreign Capital Inflows by 594% to $6.3b in Three Months

Related Articles

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

more recommended stories

%d bloggers like this: