GAPWM3   1100  -  0 
GEJWM1   1500  -  0 
GEJWM2   1340  -  0 
GEJWM3   1480  -  0 
GEJWM4   1000  -  0 
GEJYM2   1240  -  0 
GEJYM3   1000  -  0 
GKUWM1   1480  -  0 
GKUWM2   1440  -  0 
GKUWM3   1250  -  0 
GKUWM4   1100  -  0 
GKUYM1   1480  -  0 
GKUYM3   1180  -  0 
GKUYM4   1080  -  0 
GSAWM1   1340  -  0 
GSAWM2   1340  -  0 
GSAWSS4   5400  -  0 
GSAYM1   1340  -  0 
GTAWM2   1340  -  0 
GTAWM3   1384  -  0 
GTAWM4   1100  -  0 
GTAWSO3   1550  -  0 
GTAYM1   1480  -  0 
GTAYM2   1350  -  0 
GTAYSB1   2000  -  0 
GTAYSB2   2000  -  0 
GWAWM1   1340  -  0 
GWAWM2   1340  -  0 
GWAWM3   1400  -  0 
GWAYM1   1479  -  0 
GWAYM2   1340  -  0 
GWAYSB1   2400  -  0 
GWEWM1   1340  -  0 
GWEWM2   1420  -  0 
GWEWM4   1000  -  0 
GWEYM1   1340  -  0 
GWEYM2   1340  -  0 
    

News | Ghana Commodity Exchange

GCX TO SETTLE TRADE IN 20 DAYS -SUBJECT TO SEC APPROVAL

Date : 11th May, 2020


GCX TO SETTLE TRADE IN 20 DAYS -SUBJECT TO SEC APPROVAL image


GCX to settle trade in 20 days -Subject to SEC approval

 

The Ghana Commodity Exchange (GCX) is planning to introduce a new settlement time of T+ 20, meaning that commodity transactions will be settled within 20 days of trade. This settlement regime will operate alongside the current settlement regime of T+1, meaning that transactions are settled within one working day of trade.  The new settlement system will be more attractive to commercial sellers and bulk buyers who increasingly have signed on to membership to do business with the GCX but their participation have been limited as they prefer to defer settlement for a future date rather than pay sellers within one day of transactions, the latter settlement system , which the GCX clearinghouse currently supports.

 

This are some of the measures undertaken by the GCX to integrate more commercial sellers into their system alongside smallholder farmers to increase trading volumes and liquidity.

 

The new settlement system, if approved by SEC requires that buyers deposit 30% up to the value of the commodity upfront, as well as an irrevocable security such as a letter of credit from a GCX approved bank for the commodity. The rest of the money would be paid at the maturity date of the transaction. In the case of the default, the GCX will provide backup guarantee to indemnify the default. The guarantee could be in the form of cash or insurance product.

 

The GCX is a regulated market set up by the government of Ghana to provide market options for smallholders and others in food value chains. The GCX is regulated by the Securities and Exchange Commission (SEC) through its Rules. The GCX currently trades agricultural commodities; maize, soya, sorghum and sesame, and will soon add Rice, cowpea and Cashew to the list of commodities traded. GCX is a structured market system supported by warehouse receipts system which includes certified warehouses. The GCX has ten warehouses located in different regions in Ghana. 

 

Kindly visit our website www.gcx.com.gh for all you need to know about the Ghana Commodity Exchange.