The International Securities Services Association has admitted FMDQ Depository Limited, a subsidiary of FMDQ Group Plc, as a member of the association.
A statement by the FMDQ said the membership approval of the Central Securities Depository was registered by the Securities and Exchange Commission
The Chief Executive Officer, Bola Onadele, said the group considered the approval beneficiary to the execution of its mandate to provide a safe depository for financial markets assets, a platform for collateral services and transfer agency, as well as facilitate effective settlement of capital market transactions thereby reducing operational risk and improving efficiency.
He said, “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.”
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
Contact:
