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How commodities trade on the Ethiopian Commodities Exchange?
Ethiopian Commodities Exchange was established in 2008. What commodities are trading on the exchange? Is the exchange open to foreign purchases?
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http://www.ecx.com.et/Operations.aspx#TDThey mainly trade coffee.
Quote:
If a trader wants to buy ten contracts of grade 1 of Jimma A, at a price of three hundred, for example, in the floor he would yell " Jimma A1 at three hundred” , stating grade before price, and turn his palm inward toward his face. If the trader wants to sell the same, he will yell the same quote, and show one hand with the palm facing outward. The combination of hand-signals and vocal representation between the way a trader expresses bids and offers is a protection against misinterpretation by other market participants
End quote
from http://www.ecx.com.et/Operations.aspx#TD
Quote:
If a trader wants to buy ten contracts of grade 1 of Jimma A, at a price of three hundred, for example, in the floor he would yell " Jimma A1 at three hundred” , stating grade before price, and turn his palm inward toward his face. If the trader wants to sell the same, he will yell the same quote, and show one hand with the palm facing outward. The combination of hand-signals and vocal representation between the way a trader expresses bids and offers is a protection against misinterpretation by other market participants
End quote
from http://www.ecx.com.et/Operations.aspx#TD
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