GHANA COMMODITY EXCHANGE PREPARES FOR DERIVATIVES INTRODUCTION WITH KEY STAKEHOLDER MEETINGS, STAKEHOLDER POLICY VALIDATION AND CAPACITY BUILDING EXERCISE.
Accra, Ghana – August 20 - 21, 2024 – The Ghana Commodity Exchange (GCX) in collaboration with the Feed the Future Ghana Trade and Investment Activity (USAID/GTI) proudly announces the successful completion of two-day Stakeholder Policy Validation, Engagement, and Capacity Building Exercise on the introduction of derivatives. This initiative is a significant step forward in expanding and enhancing the financial offerings available through the Exchange.
Pre-Engagement Meetings with Key Stakeholders
Before this important engagement, GCX held a series of one-on-one meetings with key stakeholders to discuss the introduction and implications of derivative trading. These preparatory meetings were designed to ensure that all parties involved are aligned and well-informed about the new trading products and their potential impacts on the market.
Stakeholder Engagement and Capacity Building Exercise
The recent Stakeholder Policy Validation and Capacity Building Exercise, which followed the one-on-one meetings with key stakeholders, was necessary for ensuring a smooth transition to introducing derivatives on the Exchange. This engagement provided a platform for disseminating information about the derivatives market and its benefits, with participants including representatives from the agricultural sector, financial institutions, educational sector, regulatory bodies, and industry experts, who collectively addressed the operational, regulatory, and educational needs associated with the introduction of derivatives.
Importance of the Engagement
These initiatives are not only for the smooth introduction of derivatives on the GCX but are also important for building the capacity of market participants to effectively utilize these financial instruments. By engaging stakeholders early and thoroughly, the GCX is paving the way for a well-informed and prepared market, and ready-to-use derivatives for risk management, price discovery, and investment opportunities.
Dr. Bharat, the Lead Consultant on behalf of the Ghana Commodity Exchange, leading the discussions, emphasized the importance of these exercises in equipping stakeholders with the necessary knowledge and tools to navigate the complexities of derivative trading.
“This initiative marks an important moment for the Ghana Commodity Exchange,” said Dr. Bharat. “The successful completion of these engagements underscores the commitment to fostering a transparent and well-informed trading environment. I believe that the introduction of derivatives will bring new opportunities and further strengthen Ghana’s financial market.”
Looking Ahead
The Ghana Commodity Exchange looks forward to continuing its efforts in expanding and enhancing its services, with the introduction of derivatives being a component of its strategic growth. The Exchange remains committed to working closely with all stakeholders to ensure a continuous and successful integration of these new financial products.
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