ECX on Verge of Mineral Trading

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ECX on Verge of Mineral Trading

Jul 18 , 2021

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Opal, emerald, and sapphire, will be traded on the floors of the Ethiopian Commodity Exchange (ECX) beginning next year. The Exchange has already prepared a manual to begin trading the minerals and is currently waiting the drafting of a legal framework by a team comprised of officials from the Ethiopian Commodity Exchange Authority and the Ministry of Mines & Petroleum. In the just-ended fiscal year, ECX facilitated the trading of 614.5 million metric tonnes of commodities with a value of 39.6 billion Br. The Exchange also plans to add industrial products to its trading platform soon. It is currently undertaking a study to enforce forward contracts on its trading floors.

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