Naira Settled Currency Futures Open Interest Report At October 24, 2016

October 25, 2016
Naira Settled Currency Futures Open Interest Report At October 24, 2016

naira-futures-open

By Quantative Financial Analytics

NIFEX Spot

The FMDQ NIFEX Spot increased by N2.88 or 0.91% ending the day at a rate of N319.75 against the previous day’s rate of N316.875 as Naira weakens against the dollar.

naira-futures-open

Open Interest and Volume Analysis

Open interest in currency futures increased by 0.27% from $3,653.01 million to $3,663 million as investors purchased $9.9 million additional notional futures contract.  Only the NGUS AUG 16 2017 recorded an activity for the day.

naira-futures-open1

Mark to Market Analysis and Attribution

The estimated Mark to Market (MTM) of open interest now stands at N210.76 billion, an increase of 5.66%, (N11.29 billion) over previous day’s Mark to Market value of N199.466 billion. The increase in MTM is attributed mostly to the increase in NIFEX rate which resulted in an increase in MTM of N10.5 billion while the additional contracts increased MTM by N0.791 billion leaving a net increase in MTM of N11.29billion.

Maturities

The next futures in line on the maturity continuum is the NGUS OCT 26 2016 which matures on October 26, 2016. If this was to mature today, the short position holder will pay N7.65 billion.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

Leave a Reply

LASU Sacks 13 Staff For Diesel Theft, Forgery
Previous Story

LASU Sacks 13 Staff For Diesel Theft, Forgery

PDP Killed My Husband—Alameiseigha‎’s Widow
Next Story

PDP Killed My Husband—Alameiseigha‎’s Widow

Latest from Economy

Don't Miss