ECX trade value reaches 10.1 billion Birr

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In the first six months of 2009, the Ethiopia Commodity Exchange performed at 96 percent of their expectations in trade volume and 94 percent in trade value.
In comparison to the same period last fiscal year, trade volume decreased by six percent but trade value increased by 19%. The trade volume performance of coffee and white beans increased by 15% and 23% respectively. In addition, the total trade value of ECX rose 19% when compared to the same period last fiscal year. In terms of trade value, coffee and white beans increased by 35% and 82 % respectively and sesame decreased by 14%.
ECX’s transition from open trading to the eTRADE system in the last 18 months has made a remarkable contribution to this achievement. The successful deployment of the eTRADE system also created an opportunity because ECX can introduce new commodities in addition to the seven it is trading now.
The eTRADE system also helped to minimize irregularities in the trade when it relied on people calling out on an open trading floor. Moreover, ECX successfully trained 761 traders for the eTRADE system. In the last six months the eTRADE trade volume reached 89% of the trade. The remaining 11% is being traded through the older outcry system. In this regard, 94% percent of coffee and 91 % of sesame were traded electronically.
To increase the accessibility of trading, ECX is exerting its utmost efforts to open seven eTRADE centers in different regions. Hawassa, Nekempt and Humera regional eTRADE Centers are expected to be operational in the near future. The Hawassa regional eTRADE center will be inaugurated officially in few months. In addition, ECX is striving to build four eTRADE centers at Jimma, Adama, Gondar and Kombolocha.
ECX trades coffee, white bean, sesame, maize, wheat, mung bean and red beang