Nigeria, Dec. 4 -- The Nigerian Exchange Limited (NGX) has launched a listing segment for commercial papers in a move targeting improved trading in corporate debt in the country's fixed income market.

Until the introduction of the listing category, transactions in commercial papers, which are short-term debt instruments issued by companies to raise funds from the public, were dominantly conducted on the FMDQ Exchange and NASD OTC Exchange, where most of those securities are quoted.

The new listing window has gained the approval of the market regulator, the Securities and Exchange Commission, and directly offers issuers and companies a platform to list and trade in both conventional and non-conventional commercial papers, the NGX noted i...