GMBS3 2250 : 0 | LUBPAA3 1105 : 49 | LUBPAA4 877 : 3 | LUBPAA5 758 : 41 | LUJM3 850 : 171 | LWBP1 1380 : 28 | LWBP2 1371 : 18 | LWSD3 1079 : 51 | LWSD4 845 : 6 | UBM6 1171 : 9 | UBM7 1124 : 11 | UBM8 1027 : 9 | UBM9 951 : 6 | UGJQ2 1501 : 1 | UHRA3 2630 : 103 | UHRA4 2520 : 2 | UHRA5 2425 : 10 | UHRA6 2200 : 0 | UHRB5 2071 : 15 | UHRB6 1978 : 2 | UHRC3 2200 : 160 | UHRC5 2055 : 12 | UIB6 1232 : 13 | UIB6 1218 : 9 | UIB7 1182 : 12 | UJM6 1208 : 0 | UJM7 1223 : 263 | UKF5 1225 : 15 | UKF7 1167 : 17 | UKW4 1400 : 29 | UKW6 1243 : 12 | USDE8 1033 : 46 | USDE9 930 : 5 | USK9 955 : 24 | UYCA3 1400 : 50 | UYCA5 1345 : 13 | UYCAQ1 2222 : 198 | UYCB6 1320 : 12 | WBMQ2 1125 : 45 | WGJQ1 1581 : 15 | WSDA3np 1127 : 267 | WSDA4 1210 : 0 | WSDAQ1 1602 : 92 | WSDB3 1315 : 5 | WSDBQ2 1410 : 26 | WSDCQ2 1250 : 0 | WYCAQ1 1920 : 80 | WYCAQ2 1577 : 144 | RWPA5 2060 : 60 | RWPALG 2001 : 51 | RWPALG 1955 : 5 | WHGS2 5720 : 58 | WHGS2 6110 : 10 | WHGS3 5700 : 7 | WHGS3 6092 : 8 | WHGS3 5800 : 1 | WHGS4 5693 : 7 | WHGS4 5500 : 0 | WWSS3 5551 : 50 | WWSS4 5500 : 230 | WWSS5 5271 : 308 | WWSSUG 5100 : 100 | WWSSUG 5100 : 50 | CRKCA2 1930 : 1930 | CRKCA3 1930 : 1930 | SBAS1 1500 : 1 | SBAS2 1493 : 7 | SBAS4 1450 : 50 | SBGJ2 1546 : 1 | SBGJ3 1521 : 21 | SBGO2 1500 : 29 | SBGO3 1500 : 50 | SBGO4 1450 : 47 | SBGOLG 1100 : 50

A Client can be represented through an Intermediary Member (IM) or Limited Intermediary Member. A client of an IM has the opportunity to buy and sell all commodities offered by the exchange.Clients have the right to submit to the Exchange Arbitration Tribunal any claims, controversies or disputes initiated by the intermediary member on the invalidation, performance termination, or cancellation of the trade contract.
 

Know Your Client Procedures
 Although the relationship between a Member and Client is strictly private, the Exchange operates under certain Know Your Client (KYC) procedures which protect the client and enable a smoothly functioning system for all. When a Client signs up to trade through a Member, the client is expected to sign Member –Client Agreement (MCA) by presenting themselves at  branches or main office of the exchange . the Member must submit the MCA to the Exchange. In addition, the Client must furnish the following information to the Exchange: 

  • save for Cooperatives clients and small scale farmer,  Valid Business License,
  • Tax Identification Number
  • VAT Registration(if any)
  • The general managers identification card or if the MCA is to be signed by representative  , the delegation letter  
  • In addition to the aforementioned requirements ,

For PLC or share company clients, the memorandum of association and article of association

For cooperative clients, the registration certificate.

For  small scale farmers, a Letter  written by relevant authorities indicating the  consignment at issue is produced in the specified farmer’s own farm.


 As a client working through a member, the member’s brokerage fee is negotiated between both parties but cannot exceed 2% of the value of the trade.

How to apply

The Member Management Desk handles all queries regarding membership. Applications may be obtained online or in person from the Desk. Once completed, forms should be submitted to the Membership division  
 For further information or guidance, please contact:
 ECX Membership division  
 Al-Sam Tower 2, 7th floor  
 Tel: +251 11 5183324/ 0115183327
 Fax: +251 11 554 7010
 Email: info@ecx.com.et

Certificate Examination

All prospective Members/NMDTs and their Authorized Representatives are required to take training on the ECX system and to pass the Certification Examination with a minimum score of 70/100.
 Training materials are provided in the form of an information booklet prior to the examination. The booklet is published in Amharic and English. The examination can be taken in English or Amharic in written form, as well as orally, upon request.

Authority Recognition

In keeping with global best practices, the Ethiopian Commodity Exchange Authority (ECEA) is the regulatory body established with the purpose of ensuring the development of an efficient modern trading system and to regulate and control the secure, transparent and stable functioning of the Exchange and to protect the rights and benefits of sellers, buyers, intermediaries and the general public.
 Its specific objectives are to:
 

  • promote responsible innovation, access to market information by all market participants and fair competition among markets and market participants; 
  • deter and prevent price manipulation or any other disruption of market integrity; 
  • ensure the financial integrity of all transactions subject to this Proclamation and the avoidance of systemic risk; and 
  • Protect all market participants from fraudulent or other abusive trading practices and misuses of customer assets.


The powers and duties of the ECEA extend to recognition and oversight of Exchange Actors (Members/NMDTs and their representatives) recognition and oversight of Clearing Institutions (domestic banks or other financial institutions engaged in clearing and settlement of payments), oversight of the Rules of the Exchange and regulation of Exchange-traded contracts, as well as regulation of the conduct of investment advisors, consulting companies, law practices, accounting and audit professionals, as this conduct relates to ECX business. In addition, the ECEA has the power to investigate wrongdoing and adjudicate cases falling under its jurisdiction or to refer criminal cases to the appropriate court.
 Given the multi-sectoral nature and its broad scope of powers and duties, the ECEA is accountable to the Prime Minister. Moreover, in a unique and appropriate governance structure, ECEA is governed by a Board comprised of a Chairman, and a member from each of the following relevant government bodies: Ministry of Finance and Economic Development, Ministry of Trade and Industry, Ministry of Agriculture and Rural Development, and the National Bank of Ethiopia. Thus, by law, the ECEA Board shall exercise the full powers and duties of the ECEA. The operations of the ECEA are executed by a Director General, who is also an ex-officio member of the Board.
 For further information or guidance, please contact:

Actors Association

Alongside the development of the ECX corporate entity and the regulatory body, the National Exchange Actors Association (NEAA) plays a vital role in the ECX Ecosystem. Following global best practices, Members and their Authorized Representatives are required to participate in the NEAA, which is an institution recognized by the Authority for the purpose of upholding and maintaining the standards of integrity, professionalism, and skills of all Exchange Actors.

The NEAA will maintain a database of Exchange Actors and be responsible for developing

1.  Commodity Marketing and ECX Rules training standards and proficiency testing;

2.  Self-audit programs for Members to enforce compliance with relevant ECX Rules and Authority directives governing accounting, financial standards, and trading practices;

3. Public database on grievances filed against exchange actors or the Exchange by Clients or others;

4.   Public education and sensitization on the Commodity Exchange for media, policymakers, stakeholder groups, students, and others; and

5.   Advocacy on behalf of Exchange Actors



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

 b. Supplier

 c. Exporter

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.

Membership Brochure.pdf



Certificate Examination

All prospective Members and their Authorized Representatives are required to take training on the ECX system and to pass the Certification Examination with a minimum score of 70/100.
Training materials are provided in the form of an information booklet prior to the examination. The booklet is published in Amharic and English. The examination is offered free of charge and can be repeated up to 3 times. The examination can be taken in English or Amharic in written form, as well as orally, upon request. 

Authority Recognition

In keeping with global best practices, the Ethiopian Commodity Exchange Authority (ECEA) is the regulatory body established with the purpose of ensuring the development of an efficient modern trading system and to regulate and control the secure, transparent and stable functioning of the Exchange and to protect the rights and benefits of sellers, buyers, intermediaries and the general public.

Its specific objectives are to: 

  • promote responsible innovation, access to market information by all market participants and fair competition among markets and market participants; 
  • deter and prevent price manipulation or any other disruption of market integrity; 
  • ensure the financial integrity of all transactions subject to this Proclamation and the avoidance of systemic risk; and 
  • Protect all market participants from fraudulent or other abusive trading practices and misuses of customer assets.

The powers and duties of the ECEA extend to recognition and oversight of Exchange Actors (Members and their representatives), recognition and oversight of Clearing Institutions (domestic banks or other financial institutions engaged in clearing and settlement of payments), oversight of the Rules of the Exchange and regulation of Exchange-traded contracts, as well as regulation of the conduct of investment advisors, consulting companies, law practices, accounting and audit professionals, as this conduct relates to ECX business. In addition, the ECEA has the power to investigate wrongdoing and adjudicate cases falling under its jurisdiction or to refer criminal cases to the appropriate court. 

Given the multi-sectoral nature and its broad scope of powers and duties, the ECEA is accountable to the Prime Minister. Moreover, in a unique and appropriate governance structure, ECEA is governed by a Board comprised of a Chairman, and a member from each of the following relevant government bodies: Ministry of Finance and Economic Development, Ministry of Trade and Industry, Ministry of Agriculture and Rural Development, and the National Bank of Ethiopia. Thus, by law, the ECEA Board shall exercise the full powers and duties of the ECEA. The operations of the ECEA are executed by a Director General, who is also an ex-officio member of the Board.  

Actors Association

Alongside the development of the ECX corporate entity and the regulatory body, the National Exchange Actors Association (NEAA) plays a vital role in the ECX Ecosystem. Following global best practices, Members and their Authorized Representatives are required to participate in the NEAA, which is an institution recognized by the Authority for the purpose of upholding and maintaining the standards of integrity, professionalism, and skills of all Exchange Actors.

The NEAA will maintain a database of Exchange Actors and be responsible for developing

1.   Commodity Marketing and ECX Rules training standards and proficiency testing;

2.   Self-audit programs for Members to enforce compliance with relevant ECX Rules and Authority directives governing accounting, financial standards, and trading practices;

3.   Public database on grievances filed against exchange actors or the Exchange by Clients or others;

4.   Public education and sensitization on the Commodity Exchange for media, policymakers, stakeholder groups, students, and others; and

5.   Advocacy on behalf of Exchange Actors.