CCP12 has accepted FMDQ Clear as an observer member.
The Nigerian clearing house will join CCP12, the global central counterparty trade association, with immediate effect.
Ayodele Onawunmi, managing director of FMDQ Clear, says that acceptance of the Lagos-based CCP into CCP12 is testament to its commitment to becoming a globally-accepted CCP by 2025.
“We are excited to become a member of CCP, a committee of world class and vibrant CCPs which provides the platform for global collaboration, engagements and knowledge sharing that will support the development of the Nigerian post-trade services value chain towards global standards,” comments Onawunmi.
CCP12 chairman Kevin McClear and CCP12 chief executive Teo Floor issued a joint statement saying that they are delighted to welcome FMDQ Clear to the CCP12 global community.
“[FMDQ Clear’s] ongoing development signals the value of CCP clearing across a variety of markets and we look forward to successful collaboration,” they add.
With the addition of FMDQ Clear, CCP12 now has 36 primary members and 5 observer members.
