Post by Sapphire Capital on Jul 12, 2008 0:19:34 GMT 4
see:
www.unctad.org/sections/wcmu/docs/c1em33p10_en.pdf
www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2007/09/14/000020439_20070914100225/Rendered/INDEX/404060Replacement.txt
www.mofaed.org/macro/PASDEP%20Final%20English.pdf
it is expected to open end of March 2008 in ADDIS ABABA.
Initially ECX trading will cover six target commodities selected for their importance: coffee, sesame, pea bean, teff (a nutritious annual grass similar to millet and quinoa in cooking), wheat and maize.
Warehouses are in Addis Ababa, Bure, Humera, Nazreth, Nekemte and Shashemene.
Trading will be based on receipts issued by ECX-operated warehouses, where commodities are graded, weighed and certified. ECX will provide standardized commodity-based contracts for delivery immediately or at a specific date in the future.
Bidding will take place during trading hours from 8 a.m. to noon, with electronic remote access.
ECX will guarantee payment against delivery through an internal system for clearing and settlement of contracts in collaboration with partner banks. These are: Commercial Bank of Ethiopia and Dashin Bank.
www.unctad.org/sections/wcmu/docs/c1em33p10_en.pdf
www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2007/09/14/000020439_20070914100225/Rendered/INDEX/404060Replacement.txt
www.mofaed.org/macro/PASDEP%20Final%20English.pdf
it is expected to open end of March 2008 in ADDIS ABABA.
Initially ECX trading will cover six target commodities selected for their importance: coffee, sesame, pea bean, teff (a nutritious annual grass similar to millet and quinoa in cooking), wheat and maize.
Warehouses are in Addis Ababa, Bure, Humera, Nazreth, Nekemte and Shashemene.
Trading will be based on receipts issued by ECX-operated warehouses, where commodities are graded, weighed and certified. ECX will provide standardized commodity-based contracts for delivery immediately or at a specific date in the future.
Bidding will take place during trading hours from 8 a.m. to noon, with electronic remote access.
ECX will guarantee payment against delivery through an internal system for clearing and settlement of contracts in collaboration with partner banks. These are: Commercial Bank of Ethiopia and Dashin Bank.