2merkato

The Ethiopian Commodity Exchange (ECX) traded over $1.2 billion (33.8 billion birr) worth of commodities in the concluded Ethiopian budget year.

The Ethiopian Commodity Exchange Authority is prepared to establish three branch offices in the regional cities of Gondar, Jimma and Harrar in the current fiscal year.

The branch offices will be in close proximity to warehouses in regional areas that are operated by the Ethiopian Commodity Exchange with the aim of assisting supervision by the management in Addis Ababa.

The plans to construct the three branches were developed in the previous financial year through a mandate given to the exchange as part of the proclamation that established the authority.

The Ethiopian Commodity Exchange (ECX) has announced plans to introduce three new products to its trading platform as part of its ongoing efforts to modernize and expand the country’s commodity market. The new products set to be integrated into the exchange include cotton, opal, and leather.

The Ethiopian Commodity Exchange (ECX) has launched an advanced online trading platform, a step towards modernizing the country’s trading systems and aligning with the Digital Ethiopia 2030 initiative.

Ethiopian Commodity Exchange (ECX) disclosed it has launched online trading system for marketers to engage in trade wherever they are.

The system started operation in July 2015. The online trading system intends to boost access to ECX and its services, build capacity of different stakeholders and increase efficiency.

For the time being the e-trading has been launched in Addis Ababa, Ethiopia but ECX has a plan to launch the service in Hawassa, Humera and Nekemte, trading centers to be established.

380 representatives and members after completing a certification exam and passing some preliminary screening are now certified to use the online trading system.

ECX started business in April 2008 with 100 members. It trades six types of commodities.

Source: Ethiopian News Agency