The Ethiopian Commodity Exchange (ECX) inaugurated eTRADE Platform on Thursday, October 8, 2015, capable of trading 5000 times more transaction than its current “Open-Out-Cry” or “Pit-Trading” platform capacity, The Daily Monitor reported.

ECX had also publicly introduced new consolidated coffee grading system for the coming harvest season and enhanced SMS/IVR market data dissemination platform.

ECX took two years to develop the eTRADE Platform which is expected to boost trade efficiency, transparency and accessibility.

The eTRADE Platform became successful in association with Investment Climate Facility for Africa (ICF) and other partners, it was learnt.

ECX CEO Ermias Eshetu said: “The eTRADE Platform saw its soft launch on July 20, 2015 by introducing local washed/unwashed byproduct coffee trades. Thus far, a total trade volume of 3093 MT has been traded on the platform with a trade value of USD 5.7 million.”

He also said ECX had trained and certified over 445 ECX trading members and representatives who are qualified to trade on the platform.

Source: The Daily Monitor