How to be a member at ECX
The Ethiopian Commodity Exchange has two types of members, i.e Ordinary and Limited members. Both types of Memberships are currently closed. , Additional Ordinary or Limited Memberships will be available in the future so please continue to check the website.
ECX members are the core actors of the Exchange. A membership seat is a permanent and transferable right to trade on the Exchange. Members can be any individual, company, public enterprise, or cooperative that meet the membership requirements. Members enjoys the governance of ECX as they have the right to elect the 5 members of board of directors of ECX . Owners of membership seats, or Members, are required to follow the Rules of the Exchange and thus maintain the integrity of the ECX marketplace. Members are liable for the transactions they conduct through ECX.
ECX offers two types of membership:
- Ordinary Members, whose membership seat is permanent and freely transferable, and who can trade in any commodity but in one trading position.
- Limited Members, created to accommodate smaller actors, whose membership seat is limited to one year, to one commodity, and to one position (either buy only or sell only).these kind of members will not have the right to transfer the membership seat For each type of member, there are two classes of membership:
- Trading Member (TM) trades only for his or her own account
- Intermediary Member (IM) trades either on his or her own account and /or on behalf of Clients
Members may also appoint Authorized Representatives to trade or otherwise act on their behalf. An Authorized Representative is an individual employed as an agent or is staff of a Member.
Being Non -member direct trader (NMDT)
Having regard to the efficient operation of the Markets of the Exchange, The exchange may avail a trade access to non-member direct trader (NMDT)
NMDT are those traders, any individual, company, public enterprise, or cooperative that meet the NMDT requirements and who can directly trade at ECX platform without being represented by IM.
The following Three categories of NMDT are allowed
a. Small holder farmer
Non-member Direct Trader can only trade for himself and may trade as a Buy-only or as a Sell-only trader in transactions to be conducted at the Exchange.
- Alike the members , The Non-member direct traders (NMDTs) will not have transferable right to trade on the Exchange and they can not trades on behalf of Clients or they will not involve in the governance of ECX .
NMDTS are required to follow the Rules of the Exchange and thus maintain the integrity of the ECX marketplace. NMDT are liable for the transactions they conduct through ECX.