Zambia to start live bond, derivatives trading

PAN Africa Exchange (PANEX) is next month expected to launch live trading in bond and derivatives in Zambia, company chief executive officer Jacob Maaga has said.
PANEX is a fully electronic marketplace designed to trade bonds, equities and derivatives and it is the first demutualised, fully electronic multi-asset exchange.
This is after the Securities and Exchange Commission (SEC) issued the exchange with a trading licence.
“We are excited to inform you that PANEX is now licenced as an exchange in Zambia by the SEC. As we look forward to opening our doors and launching live trading over the next few weeks, we will start accepting applications for membership from May 2, 2016,” he said in an email yesterday.
Mr Maaga said the company expects to create fair and transparent markets by providing innovative solutions to improve fairness and transparency for price discovery and trading between small-scale farmers, traders and agro-processors.
The company provides hedging mechanism which is an investment to reduce the risk of adverse price movements in an asset and remove counter-party risk in agriculture while also facilitating financing through electronic warehouse receipt.
It also facilitates efficient allocation and flow of capital between issuers and investors.

Article Posted in Zambia Daily Mail/ Business on April 27, 2016 by Web Editor
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