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​​​​MARKET STRUCTURE​

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The NSE retail b​ond trading platform for FGN Bonds, State and Corporate & AMCON bonds aims to offer retail investors an efficient and transparent access to an on screen secondary market in NSE listed debt instruments. The introduction of this fixed income trading platform is in response to growing demand from retail investors for portfolio diversification from traditional equities.
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We believe that the platform will increase the credibility of the Nigerian debt market and allow for improved price efficiency and transparent mechanism for gaining access to fixed income securities. Market Participants

  • ​​​Fixed Income Market Makers (FIMMs)​:- are NSE appointed market makers in NSE listed bonds that have obligations and benefits associated with providing liquidity and addressing dislocations in the NSE bond order book.​
  • Broker-Dealers: - are NSE members that have been approved to represent their customers (Retail and Institutional Investors) in an agency capacity and/or to trade proprietary positions on behalf of their house.
  • DMO Government Broker, is an NSE registered Bro​ker-Dealer that has been selected by the Debt Management Office to be a liquidity provider of last resort in FGN bonds listed on the NSE.
  • ​AMCON Market Maker, is an NSE registered Broker-Dealer provide​r that has been appointed by Asset Management Corporation of Nigeria to be the liquidity provider of last resort on AMCON bonds listed on the NSE.​