OTC FX Futures are non-deliverable forwards or contracts where parties agree to an exchange rate for a predetermined date in the future.
He said investors embraced the fixed income market to avoid losses in equity portfolios, as yields tumbled below one per cent yearly, while the equities market rebounded in the last quarter of 2020. According to him, this is in contribution to the development of the Nigerian financial markets, with a focus on de-risking the markets across the full capital market value chain.
He pointed out that the securities admission business of the exchange continued to thrive in 2020, as an impressive number of 82 securities, 13 bonds, 67 commercial papers and two funds were admitted on the platform, with a total value of ₦2.07 trillion.In the clearing business, Obiora said a decline of 22 per cent was recorded in the value of cleared sovereign fixed income securities transactions due to the impact of the COVID-19 crisis.
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