Fixed Income Market Making (FIMM) is a platform that allows debt markets participants to trade NSE listed debt instrument issued by the Federal Government, State Governments or Corporations on a transparent order book with firm orders. The objective of FIMM is to provide liquidity and transparency through an order book with firm orders, pre and post-trade reporting, clearing and settlement solutions.
There are two types of market making:
- Quote-driven market making - only the bids and asks of market makers are displayed in the market. The orders of regular broker-dealers are not displayed.
- Order-driven market making - all the orders of buyers and sellers are displayed in the market, showing the quantity and the price at which a buyer/seller is willing to trade.
The Broker/Dealers below have been selected by The Nigerian Exchange to perform the role of fixed income market makers:
- Capital Bancorp Plc
- Cordros Capital Limited
- ESS/Dunn Loren Merrifield
- FSDH Securities Limited
- Greenwich Trust Limited
- Investment One Stockbrokers (formerly GTB Securities)
You can read the e-brochures, FAQs and presentations below for more information:
- Fixed Income Market Making