The Financial Markets Dealers Association has restated its commitment to the development of Nigeria’s capital market and the economy as a whole.
In line with the commitment, the FMDA in collaboration with INTL FCStone Limited is organising a financial seminar on commodity markets and risk management.
According to the association, the programme, which is scheduled to take place on Wednesday and Thursday in Lagos, is aimed at improving knowledge and skills with the hope that the knowledge gained could facilitate the deepening of the country’s markets and economy.
“This training collaboration is intended to broaden the horizon of participants in hedging techniques as experiences are shared with international experts,” it said in a statement.
“The recent adjustment/volatility in the foreign exchange market with its associated risks occasioned by the collapse of the global oil price and the various risk exposures that impacted on our market in the last couple of months necessitated the idea behind this collaboration so as to bridge knowledge gaps.”
The FMDA explained that in line with the Federal Government’s policy on diversification of the economy, the seminar would expose participants to commodity price risks, exchange rate risks, contribute to developing hedging strategies and seek new sectorial directions.
This, it said, would benefit bankers and their clients in the export business as well as regulators.
INTL FCStone Limited is a financial services firm, authorised and regulated by the United Kingdom’s Financial Conduct Authority in London, providing advisory, execution and clearing services to commercial clients seeking to mitigate exposures to FX, metals, energy and soft commodities.
FMDA, on its part, was established as an association of licensed banks and discount houses, corporate treasurers as well as other institutions and individuals authorised by regulatory authorities to carry out dealing/trading activities as in money market instruments.
The association, which, prior to 2007, was known as the Money Market Association of Nigeria, leads the development of knowledge, skills and competencies of its individual members in treasury market practice through capacity building and promoting professionalism in the OTC markets.
It also arbitrates on disputes involving counterparties in the fixed income and foreign exchange markets.
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Source : Punch