By Adedapo Adesanya
Following its approval by the apex regulator of the Nigerian capital market, the Securities and Exchange Commission (SEC), the FMDQ OTC Plc has received a status that guarantees it as a full-fledged securities exchange company.
By implication, this spells that the company will now transit from FMDQ OTC Securities Exchange to a new moniker, FMDQ Securities Exchange Plc.
Following due process, the newly branded security exchange company has activated and put in operation two wholly-owned subsidiaries; FMDQ Clear Limited and FMDQ Depository Limited.
These subsidiaries, otherwise known as FMDQ Clear and FMDQ Depository, have been positioned to provide efficient post-trade services, amongst others, for the Nigerian financial market.
This hints at making FMDQ a multilayered corporation that represents a one-stop Financial Market Infrastructure (FMI) Group and an integrated platform to execute, clear and settle financial market transactions.
To complete the rebranding, the company unveiled its new logo on August 5, 2019, with the newly established FMDQ entities – FMDQ Exchange, FMDQ Clear and FMDQ Depository – replacing each of their individual identities.
According to the company in a statement to its stakeholders, “The new FMDQ Logo, whilst maintaining its vibrant colours – deep blue, depicting trust, confidence, depth and stability; bright gold, showing off passion, value, prestige, quality and prosperity; and a touch of cool grey, representing conservativeness, professionalism and sophistication, communicates FMDQ’s drive to “consistently move forward.”
“Projecting into the company’s set objectives for the future: “We are excited about the opportunities ahead, and with your continued collaboration, remain committed to our transformation agenda and quest to align the Nigerian financial markets with global standards and best practices,” it concluded.
Dipo Olowookere