In furtherance of the advancement of its business development agenda through strategic alignment with relevant international professional bodies, FMDQ Depository Limited (FMDQ Depository), a wholly owned subsidiary of FMDQ Group Plc (FMDQ Group), Africa’s first vertically integrated financial market infrastructure group, is pleased to announce its approval as a member of the International Securities Services Association (ISSA).
FMDQ Depository, a Central Securities Depository (CSD)
registered by the Securities and Exchange Commission, Nigeria, considers this
approval beneficiary to the execution of its mandate to provide a safe
depository for financial markets assets, a robust platform for collateral
services and transfer agency, as well as facilitate effective settlement of
capital market transactions, thereby reducing operational risk and improving
efficiency.
ISSA, founded over forty (40) years ago, is a global
industry association that facilitates collaboration with its members and
provides the leadership necessary to drive changes in the securities services
industry.
Speaking on the membership acceptance, Bola Onadele, Chief
Executive Officer, FMDQ Group Plc stated “FMDQ Depository is excited to become
a Member of ISSA, the leading global securities services industry association
that connects members, such as CSDs and other firms that are involved in all
aspects of the securities value chain, for the purpose of effecting positive
change that impacts the industry. Our acceptance as a member of this
well-established and innovative association is a testament to our commitment to
being a foremost and diversified depository in Africa by 2025”.
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As a member of ISSA, FMDQ Depository will be entitled to the
association’s membership benefits such as access to learning and education,
best practices and principles in the global securities services industry,
networking opportunities and provision of support for FMDQ Depository’s service
development, risk reduction strategies and operational efficiencies, with the
ultimate aim of positioning the Company to provide cutting edge solutions to
clients, and engage optimally with stakeholders.
FMDQ Depository is a Central Securities Depository
registered by the Securities and Exchange Commission, Nigeria. FMDQ Depository
is positioned to provide a safe depository for financial markets assets, a
robust platform for collateral services and transfer agency, as well as
facilitate effective settlement of capital market transactions, thereby
reducing operational risk and improving efficiency.
Clients rely on FMDQ Depository to provide quality and
timely depository and related services (for both the financial and
non-financial markets of the economy) through innovative and sustainable
technology solutions.
International Securities Services Association, domiciled in
Switzerland, is the leading global securities services industry association
shaping the future of securities services, set up with the purpose of
connecting securities services leaders, facilitating industry collaboration and
effecting change that positively impacts the global securities value chain.
Members include CSDs, custodians, technology companies and other firms that are
actively involved in all aspects of the securities services value chain.
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