Spot Market Trading

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ZMX provides an automated platform where commodities are traded for immediate delivery. Trading on ZMX is based on Warehouse Receipts and all traders must deposit their commodities with a designated warehouse in exchange for a Warehouse Receipt which receipt forms the basis of trading on the exchange.

  • Buy & Sell Order Management

    • The exchange enables commodity buyers and seller to post their buy and sell orders using multiple digital platforms. These orders are matched on the Automated Trading System using time-price priority principle. All orders must have appropriate order qualifiers which determine when the order expires if not executed.
  • Order Matching & Price Discovery

    • ZMX is an automated digital market place where local and international buyers and sellers of commodities meet to transact. Orders accepted on the ZMX central order book are matched on a time-price priority. Matching is continous throughout the trading session. Price movements are subject to price protection limits to ensure market stability.
  • Clearing & Settlement

    • Clearing and settlement is done on a Delivery versus Payment basis and settlement account are maintained at a designated settlement bank. Cash and securities are held at Custodian banks pending settlement to ensure no settlement failures or settlement delays.
  • Dispute Resolution

    • ZMX operates a platform that has rules governing the admission and conduct of participants. These rules also guide the issuance, trading and settlement of Warehouse Receipts.
  • Rules Enforcement

    • Trading on ZMX is governed by Gazetted rules under Statutory Instrument 184 of 2021. [CAP. 18:24 Agricultural Marketing Authority (Zimbabwe Mercantile Exchange) Rules, 2021. This provides ZMX with the legal instruments to enforce lawful contact in the activities of all participants on the Exchange.