We are advising the Client (licensee) on Software Licensing Agreement between the Client and Security and Trading Technology (pty) Ltd in relation to the licensing of certain programs including: automated trading system software; trade, deal and order management software; management solution; surveillance solution; central bank management solution; and SWIFT Router.

As the counsel to the licensee we reviewed the Software Licensing Agreement to ensure compliance with applicable Nigerian law and are registering same with the National Office for Technology Acquisition and Promotion.

FMDQ OTC PLC is Nigeria’s foremost debt capital, foreign exchange and derivatives over-the-counter securities exchange with an average annual turnover of circa N188,000,000,000,000 (about $600,000,000,000), over the last three years. The transaction relates to the licencing of key software for one of FMDQ’s trading platforms.