East African Exchange

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The East African Exchange is a commodity exchange that was announced at the World Economic Forum in Davos, Switzerland on January 23, 2012. The new Rwandan commodity exchange venture was announced by President Paul Kagame of Rwanda, Nicolas Berggruen of Berggruen Holdings and Jendayi Frazer of 50 Ventures at the Swiss hosted event.[1]

NASDAQ OMX was selected as a technology partner by the ventures backers.[2] EAX, as the exchange will be called for short, will be powered by NASDAQ OMX's X-stream Trading and Clearing platforms.

The new exchange initially will focus on building an auction facility and spot trading for agriculture and non-agriculture commodities, but will also develop futures trading across East Africa.

References

  1. East Africa Exchange Launched. PR Newswire.
  2. OMX Chosen to Power New East Africa Exchange {{{name}}}. Nasdaq OMX.