Technology
Technology is a key enabler in setting up viable and efficient Commodity Exchanges. ZMX uses a developed end-to-end commodity exchange solution for the issuance, trading and collateralization of Warehouse Receipts. The technology is made up of four main platforms that are:
- Mobile & Online Platforms (i.e USSD, Web and Mobile applications),
- The Electronic Warehouse Receipt System (e-WRS),
- The Automated Trading System (ATS).
- Clearing and Settlement System
Mobile & Online Platforms
For convenient user access, ZMX utilises the e-ComX online, USSD & mobile App platforms that enable the following self-service activities:
- Account creation and upload of KYC documents for different types of users.
- Booking delivery or collection of commodities
- Accessing real-time market price information and markets statistics.
- Order management that is placing, viewing, and cancelling orders.
- Trading funds deposits.
- Applying for post harvest financing.
- Receiving and withdrawing sale proceeds.
Electronic Warehouse Receipt System
The e-ComX eWRS is at the backbone of the exchange. The e-ComX e-WRS acts as a Central Warehouse Receipt Depository and maintains the Warehouse Receipt Registry.
Automated Trading System
The Automated Trading System (ATS) manages the trading process. Houses the mainly automated trade matching engine, the order management system and the market information display boards.
Clearing and Settlement System
The Clearing and Settlement System facilitates the efficient clearing and settlement of trades and is integrated into Settlement Banks, Mobile Network Operators and Warehouse Management Systems.
