ZMX Issues 72k MT Of Wheat Warehouse Receipts

ZMX Issues 72k MT Of Wheat Warehouse Receipts

The Zimbabwe Mercantile Exchange (ZMX) has so far issued 72 000 Metric Tonnes (MT) wheat warehouse receipts now ready for trading after getting government nod to facilitate its trading as one of the country’s strategic grains.
The ZMX initiative is a partnership between the Government and the private sector led by Financial and Securities Exchange Limited (FINSEC), TSL Limited and CBZ Holdings.

The exchange was launched last year and operates an electronic warehouse receipt system (WRS) and a commodity trading platform for the trading and financing of agricultural commodities.

A WRS enables commodity holders like farmers to deposit their commodity 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.

Read More

Leave a Reply

Your email address will not be published.