FMDQ is admitted to the ISSA.

FMDQ Depository Limited, a division of FMDQ Group Plc, has been accepted as a member of the International Securities Services Association.

The Securities and Exchange Commission registered the Central Securities Depository’s membership approval, according to a statement from the FMDQ.

Bola Onadele, the group’s chief executive officer, said the organization saw the approval as a benefit to carrying out its mandate to offer a secure depository for financial market assets, a platform for collateral services and transfer agency, as well as facilitate efficient settlement of capital market transactions, thereby lowering operational risk and boosting efficiency.

“FMDQ Depository is thrilled to become a member of ISSA,” he added. “ISSA unites members, such as CSDs and other businesses who are engaged in all facets of the securities value chain, with the aim of enacting constructive change that influences the sector.

“Our approval as a member of this venerable and forward-thinking organization is a tribute to our goal to being a leading and diverse depository in Africa by 2025,” the company said.

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