Deals
Nigerian Fixed-Income Exchange FMDQ to Buy Stake in Country’s Equity Clearing House
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FMDQ Group, a Nigerian fixed-income and currency trading platform, plans to acquire a stake in the West African nation’s only clearing house for equities, according to a company executive.
FMDQ may buy 22% of the Central Securities Clearing System, or CSCS, for 20 billion naira ($48.2 million), BusinessDay reported. The transaction could be completed as early as the first quarter of next year depending on regulatory approvals, the FMDQ official said, asking not be identified as the transaction hasn’t been finalized.