Ethiopia Commodity Exchange (ECX) to increase capacity 5,000x with introduction of electronic platform

Trader at the Ethiopia Commodity Exchange (ECX)

Ethiopia‘s commodity exchange plans to double the items it trades by next year after introducing an electronic platform to replace its system of shouting and gesturing orders, the firm’s chief executive said.

Launched in 2008, the Ethiopia Commodity Exchange (ECX) trades seven commodities, including coffee and sesame, two of the Horn of Africa country’s top exports, using an “open outcry” system.

Ethiopia is Africa’s biggest coffee producer with output of about 450,000 tonnes for both the 2013/14 and 2014/15 seasons.

Read more: Ethiopia’s exchange plans more commodities with electronic trading | Reuters