Africa Mercantile Exchange
Encyclopedia
The AfMX is a Nairobi
-based Commodity futures and options exchange. It is the first fully diversified commodities exchange in Africa
in terms of Product portfolio.
It is also the first mercantile exchange to be created in Africa
(see list of Commodities exchanges). On June 24, 2005, the Africa Mercantile Exchange was incorporated, creating the Africa Mercantile Exchange AfMX..
Founded on June 24, 2005 by Wilson Thungu Thuku, the "Africa Mercantile Exchange" (AfMX) has had a consistent history of provision of responsive services provided to the financial market and the Kenyan economy.
The exchange is proactively involved in the reforms of the national financial system aimed at instituting the commodities futures and options legislation that will enhance regulation and help promulgate the commodities futures trading authority.
Through self-regulation, the Africa Mercantile Exchange continues to play an institutional role. The exchange operates as a for profit company.Since 2005, The Exchange has constantly evolved with the adoption of technology
such as the introduction of computer-based systems, hand held devices and the internet. In 2005, AfMX was the first African commodities market to implement an automated system for the dissemination of information online and in real-time, through a wide network of computer terminals.
At the end of the 2007, AfMX also developed a system of secure storage and online services for brokerage firms.
Currently, the AfMX is a fully integrated electronic exchange.
This year 2010, a new system of electronic trading,known as After, is being implemented. The After extends the potential volume of processing of information and allows the Exchange to increase its overall volume of activities.
With the aim to deepen mass access to the futures markets, AfMX has introduced the "core trader", an internet-based trading system that allows individual investors and proprietary traders to trade futures and options. The system enables users to execute buy and sell orders online.
The Africa Mercantile Exchange is steadfastly involved in developing strategic alliances with existing commodity futures and options exchanges in order to consistently avail to traders and hedgers responsive solutions in risk management.
Nairobi
Nairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
-based Commodity futures and options exchange. It is the first fully diversified commodities exchange in Africa
Africa
Africa is the world's second largest and second most populous continent, after Asia. At about 30.2 million km² including adjacent islands, it covers 6% of the Earth's total surface area and 20.4% of the total land area...
in terms of Product portfolio.
It is also the first mercantile exchange to be created in Africa
Africa
Africa is the world's second largest and second most populous continent, after Asia. At about 30.2 million km² including adjacent islands, it covers 6% of the Earth's total surface area and 20.4% of the total land area...
(see list of Commodities exchanges). On June 24, 2005, the Africa Mercantile Exchange was incorporated, creating the Africa Mercantile Exchange AfMX..
Founded on June 24, 2005 by Wilson Thungu Thuku, the "Africa Mercantile Exchange" (AfMX) has had a consistent history of provision of responsive services provided to the financial market and the Kenyan economy.
The exchange is proactively involved in the reforms of the national financial system aimed at instituting the commodities futures and options legislation that will enhance regulation and help promulgate the commodities futures trading authority.
Through self-regulation, the Africa Mercantile Exchange continues to play an institutional role. The exchange operates as a for profit company.Since 2005, The Exchange has constantly evolved with the adoption of technology
Technology
Technology is the making, usage, and knowledge of tools, machines, techniques, crafts, systems or methods of organization in order to solve a problem or perform a specific function. It can also refer to the collection of such tools, machinery, and procedures. The word technology comes ;...
such as the introduction of computer-based systems, hand held devices and the internet. In 2005, AfMX was the first African commodities market to implement an automated system for the dissemination of information online and in real-time, through a wide network of computer terminals.
At the end of the 2007, AfMX also developed a system of secure storage and online services for brokerage firms.
Currently, the AfMX is a fully integrated electronic exchange.
This year 2010, a new system of electronic trading,known as After, is being implemented. The After extends the potential volume of processing of information and allows the Exchange to increase its overall volume of activities.
With the aim to deepen mass access to the futures markets, AfMX has introduced the "core trader", an internet-based trading system that allows individual investors and proprietary traders to trade futures and options. The system enables users to execute buy and sell orders online.
The Africa Mercantile Exchange is steadfastly involved in developing strategic alliances with existing commodity futures and options exchanges in order to consistently avail to traders and hedgers responsive solutions in risk management.