Commodity exchange set to launch in Nigeria

24 Jul 2006

Nigeria's first commodity exchange, Abuja Securities and Commodity Exchange (ASCE), was to commence trading on 25 July, with futures scheduled for 2007, a spokesperson for the exchange told FO Week.

Trading was to originally be in the cash market on seven commodities, including soy bean,...

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“The fact is, an awful lot of people would be very happy for all business to be transacted over the counter. Transparency is good for the consumer, but privacy is better for the banks and the brokers. Wherever there’s a grey area, it’s possible to make money.”

European consultants predict frantic lobbying during the Mifid review.