Ethiopia - Regiater as Client in Ethiopian Commodity Exchange

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Procedure

Apply In Person

1. To Register as Client in Ethiopian Commodity Exchange, the applicant has to approach the Ethiopian Commodity Exchange link
2. The applicant has to get the application form from the authority officer.
3. Applicant has to fill-in all the details in the application form.
4. Make sure that the applicant has to attach all the documents mentioned in the “Required Documents” section of this page.
5. Applicant has to attach the photocopies along with the application form.
6. Submit the form and necessary documents to the officer.
7. All prospective Members/NMDTs and their Authorized Representatives are required to take training on the ECX system and to pass the Certification Examination with a minimum score of 70/100.
8. If the applicant is passed in exam, the commodity exchange officer will review all the documents to give the approval for membership.
9. Once the approval is given by the Ethiopian Commodity Exchange, the applicant will receive the Ordinary Member certificate from the board within a month.
10. Fee for this procedure has to be paid as per the authority request.

Note: Training materials are provided in the form of an information booklet prior to the examination. The booklet is published in Amharic and English. The examination can be taken in English or Amharic in written form, as well as orally, upon request.

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Required Documents

• Application form
• Valid Business License,
• Tax Identification Number
• VAT Registration (if any)
• The general manager’s identification card or if the MCA (Ministry of Corporate Affairs) is to be signed by representative,
• The delegation letter.
• Identity card

For PLC or share company clients

• The memorandum of association and article of association

For cooperative clients

• The registration certificate.

For small scale farmers

• A Letter written by relevant authorities indicating the consignment at issue is produced in the specified farmer’s own farm.

Office Locations & Contacts

ECX Membership division
Al-Sam Tower 2, 7th floor
Tel: +251 11 5183324/ 0115183327
Fax: +251 11 554 7010
Email: [email protected]
Website link
Contact link

Eligibility

• Any person who intends to become a client in Ethiopian Commodity Exchange are eligible to make this application.

Fees

• Fee for this procedure has to be paid as per the authority request.

Validity

• The validity for client is for one year.

Documents to Use

Membership Brochure link

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

• The processing time for this procedure is within a one month.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• Applicant must complete the application form before submitting. Incomplete applications will not be accepted.
• Applicant must provide genuine information while applying for this procedure.

Required Information

• Name
• Applicant details
• Date of birth
• Examination scored mark
• Email ID
• Sex
• Contact number

Need for the Document

• A Client can be represented through an Intermediary Member or Sell Only Limited Intermediary Member. A client of IM (Intermediary Member) has the opportunity to buy and sell all of commodities offered by the exchange. Client of SOLIM can only sell one type of commodity.

Information which might help

Ethiopia gains from establishing a competitive, efficient, and organized commodity exchange.

• Price discovery - free markets price commodities best and consistently
• Quality improvement through grading, standardization, and modern warehousing
• Commercialization of smallholder agriculture is the core pillar of poverty reduction strategy
• Need to capitalize on gains of recent rapid economic growth (past 3 years)
• Large domestic market
• Rapid export growth in key commodities
• A better functioning domestic market is key to sustaining and scaling up growth

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

LINK

Others

More information which might help people.