News Centre

Nigerian Exchange Weekly Market Report For The Week Ended 24 May 2024

Date 24/05/2024

A total turnover of 1.986 billion shares worth N40.715 billion in 38,487 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.652 billion shares valued at N42.677 billion that exchanged hands last week in 38,123 deals.

ICE First Look At Mortgage Performance: Continued Improvement In April Leads To Fewest Serious Delinquencies In 18+ Years

Date 24/05/2024

• The national delinquency rate fell to 3.09% in April – its second lowest level on record behind only March 2023’s record low of 2.92% – marking a 22 basis point (bps) improvement from the same time last year
• Serious delinquencies (loans 90+ days past due but not in active foreclosure) improved to their best level since August 2005, down -17K (-4.0%) from March and -84K (-16.8%) year over year
• The number of borrowers a single payment past due dropped by 30K to hit an 8-month low, while 60-day delinquencies fell 6K to their lowest level in 10 months
• The inflow of new 30-day lates along with rolls to later stages of delinquency improved from March, while cures were down among both early and late stage delinquencies
• Foreclosure starts declined -0.8% from March, pushing the number of loans in active foreclosure to its lowest level since January 2022 – some 30% below (-84K) pre-pandemic levels
• Though the 5.9K foreclosure sales completed nationally in April represented a 1.5% month-over-month increase, they remain at roughly half pre-pandemic norms
• Prepayment activity rose to its highest level since August 2023 due to a seasonal upswing in home sales, despite consumers still facing rate-driven affordability and refinance headwinds

CME Group Adjusted Interest Rate Total Return Futures Reach Record Open Interest, Volume

Date 24/05/2024

CME Group, the world's leading derivatives marketplace, today announced that its suite of Adjusted Interest Rate (AIR) Total Return futures reached an open interest (OI) record of 503,000 contracts on May 22.

Nasdaq Announces Semi-Annual Changes To The OMX Helsinki Benchmark™ Index

Date 24/05/2024

Nasdaq (Nasdaq: NDAQ) announced today the results of the semi-annual review of the OMX Helsinki Benchmark™ Index, (Nasdaq Helsinki: OMXHB), which will become effective at market open on Monday, June 3, 2024.

Nasdaq Announces Semi-Annual Changes To OMX Stockholm Benchmark™ Index

Date 24/05/2024

 Nasdaq (Nasdaq: NDAQ) announced today the results of the semi-annual review of the OMX Stockholm Benchmark™ Index, (Nasdaq Stockholm: OMXSB), which will become effective at market open on Monday, June 3, 2024.

Nasdaq Announces Semi-Annual Changes To The OMX Copenhagen Benchmark™ Index

Date 24/05/2024

Nasdaq (Nasdaq: NDAQ) announced today the results of the semi-annual review of the OMX Copenhagen Benchmark™ Index, (Nasdaq Copenhagen: OMXCB), which will become effective at market open on Monday, June 3, 2024.

SIFMA Statement On The Transition To T+1 Settlement

Date 24/05/2024

SIFMA today issued the following statement from Tom Price, managing director and head of technology, operations, and business continuity for SIFMA, on the transition to T+1 settlement:

“As we head into transition weekend and make final preparations for the move from T+2 to T+1 settlement, SIFMA’s members, along with our partners ICI and DTCC, have committed the time and resources to prepare, and that gives us a high degree of confidence as we proceed with the transition.”

The EBA Finds Divergences In The Issuance And Regulation Of ‘Virtual IBANs’ Across The EU, Identifies Issues, And Provides Recommendations On How To Address Them

Date 24/05/2024

The European Banking Authority (EBA) today published a Report on the issuance of what is commonly referred to as ‘virtual IBANs’ (vIBANs). In the absence of a common definition, the Report observes that the industry issues vIBANs in different ways and for different purposes and national authorities diverge in interpreting and applying regulatory requirements. The Report also identifies resulting issues in terms of money laundering and terrorist financing, consumer and depositor protection, authorisation and passporting, and regulatory arbitrage, and provides recommendations on how to address them.

Finansinspektionen: Capital Requirements Of Swedish Banks As Of Q1 2024

Date 24/05/2024

Finansinspektionen publishes the capital requirements of the largest Swedish banks and credit institutions that belong to supervisory categories 1 and 2 as of the end of Q1 2024

Bank Of England: Minutes Of Money Market Committee Meeting – April 2024

Date 24/05/2024

The Money Markets Committee is a forum for market participants and authorities to discuss the UK unsecured deposits and funding market and securities lending and repo markets.