Zimbabwe Mercantile Exchange (ZMX) says the value of warehouse receipts issued since its launch now amounts to US$171,7 million as trades continue to increase on the platform.
The total value of warehouse receipts represents 435 203,34 metric tonnes (MT) of commodities having been traded on the exchange for a value of US$5 410 278.
ZMX is operated by the Financial Securities Exchange and was founded as a joint venture between it, TSL Limited, CBZ representing the private sector and government.
It was launched on October 18, 2021, and operates an electronic warehouse receipt system (WRS) and a commodity trading platform for the trading and financing of agricultural commodities.
WRS enables commodity holders like farmers to deposit their commodities with a designated warehouse in exchange for a receipt, which is a negotiable instrument that can be used as collateral for credit facilities or for spot trading.
The Standard
