ICF is working with the Ethiopia Commodity Exchange ECX to provide market players with a modern, efficient, transparent and reliable platform for commodity trading. This is being done through a ground-breaking initiative that will migrate the Exchange and its market actors in the commodity and agricultural sector from a “Pit” trading system into an electronic trading platform, known as the e-Trade Platform. Initially, trading will be restricted within the ECX Trading Center in Addis, and eventually will be rolled-out to the newly-built trading platforms across the country.
The project is expected to :
- Increase ECX’s capacity to perform 5,000 times more trade transactions than previously; increase trade efficiency, transparency and accessibility
- Increase the number of market players and enable them to participate directly in electronic trading from anywhere via a secure access
- Increase exports earnings from introduction of new commodities on the Exchange
- Increase smallholder farmer earnings due to better price discovery
- Build the capacity of over 400 traders and enhance the knowledge base on commodity exchange in Ethiopia