Chief executive officer for Agriculture Commodity Exchange for Africa (ACE) Kristian Møller has said the recent partnership with Global Markets Exchange (Gmex) and Avenir Technology will help in boosting smallholder farmers’ livelihoods by making sure they have access to essential needs.
In a press statement Møller said the partnership will deliver a new state-of-the-art system to issue, manage, trade, clear and settle warehouse receipts for soft commodities. The new system will integrate all the functionality of the current ACE systems and processes into a high performance, agile, scalable technology platform, while also paving the way for expansion into derivatives trading, central counterparty clearing and other innovative instruments in the near future.
Currently, the existing warehouse receipt systems being championed by ACE focuses on the depository function.
“ACE has evolved systems and processes custom-designed for frontier market contexts which integrate depository services with pricing, financing, trading and information vending solutions,”said Moller.