On Wednesday, November 28, 2018, the 29th OTC FX Futures contract NGUS NOV 28 2018, with contract amount of $886.79 million, matured and settled on FMDQ OTC Securities Exchange (“FMDQ” or the “OTC Exchange”). This maturity brings the total value of matured Naira-settled OTC FX Futures contracts on FMDQ, since the inception of the market in June 2016, to circa $13.11 billion; with a total of circa $17.31 billion worth of OTC FX Futures contracts traded so far. The matured contract was valued for settlement against the NAFEX – the Nigerian Autonomous Foreign Exchange Fixing – the FMDQ reference Spot FX rate published same day. The associated clearing/settlement activities were effected accordingly. A new contract NGUS NOV 27 2019 for $1.00 billion at $/₦366.60 was introduced by the CBN to replace the matured contract and refreshed its quotes on the existing 1- to 11-month contracts. The contracts quotes are published daily on FMDQ’s website – www.fmdqotc.com and on the FMDQ Twitter page – @FMDQOTCExchange.
