The Ethiopian Commodity Exchange (ECX) is making preparations to introduce online trading that enables market players to participate directly in the trade wherever they are. Online trading is envisaged to increase access to ECX and its service; build capacity of various stakeholder groups; and increase efficiency.
The Ethiopian government is implementing the online trade project in collaboration with Investment Climate Facility for Africa (ICF) in order to enhance the activates of ECX by creating a modern commodity trading platform which will introduce online trading, and establishing Remote Trading Centers in key locations across Ethiopia. The ICF is providing 2.2 million dollars of the total of 3.8 million dollar project cost and the Ethiopian government through the ECX is matching the remaining balance.
The ECX information technology team is currently working on software design, development and other related functionalities to run a testing online trade platform.