{"id":100057,"date":"2024-10-29T22:53:18","date_gmt":"2024-10-29T20:53:18","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/vfex-readies-for-commodities-exchange-launch"},"modified":"2024-10-30T00:59:01","modified_gmt":"2024-10-29T22:59:01","slug":"vfex-readies-for-commodities-exchange-launch","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/vfex-readies-for-commodities-exchange-launch","title":{"rendered":"VFEX readies for commodities exchange launch"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>THE Victoria Falls Stock Exchange (VFEX) is operationalising the buying and selling of minerals on the soon-to-be functioning commodities exchange.<\/p>\n

Regulations governing the Victoria Falls Commodities Exchange (VCOMEX) were gazetted through Statutory Instruments 148 and 149 of 2024 to expand the securities offered on the VFEX.<\/p>\n

This comes as the pipeline of counters migrating to the VFEX from the Zimbabwe Stock Exchange remains steady with the former aiming to secure four additional listings by the end of the year.<\/p>\n

The VCOMEX is expected to be made operational by year-end and is expected to boost market liquidity in addition to diversifying investment options, according to financial services firm IH Securities.<\/p>\n

It is a licensed mineral commodities exchange. \u201cAs part of the implementation process, VCOMEX is inviting the following potential participants to express their interest in being part of VCOMEX: general commodity dealing companies, commodity dealing companies, market makers, warehouse operators, clearing companies, warehouse persons, general commodity dealer and commodity dealers,\u201dVFEX said in a statement.<\/p>\n

Participants will be split into two categories A (corporates) and B (individuals)<\/p>\n

\u201cA general commodity dealing company will be responsible for trading warehouse receipts and contracts on behalf of clients. They will also provide sponsoring services such as bringing contracts for listing, meeting continuing obligations for the listing and communicating with the exchange,\u201d the dollar-only bourse said.<\/p>\n

\u201cA commodity dealing company will be responsible for trading warehouse receipts only on behalf of clients.\u201d<\/p>\n

VFEX said warehouse operators will be responsible for storing and handling commodities and were being sought to provide secure warehousing facilities.<\/p>\n

\u201cThese companies should be equipped with warehouses and the capacity to offer storage services,\u201d the bourse said.<\/p>\n

\u201cClearing participants will verify and settle transactions, including the clearing of warehouse receipts and contracts.<\/p>\n

\u201cMarket makers will be responsible for quoting bids and offers continuously for selected commodities and future contracts that they hold in inventory.<\/p>\n

\u201cThey should be prepared and able to buy or sell these commodities and future contracts at any time on its account or on behalf of another party.\u201d<\/p>\n

Under individuals, general commodity dealers will be responsible for trading in warehouse receipts and contracts on behalf of clients and are employed by the general commodity dealing company.<\/p>\n

\u201cCommodity dealers will be responsible for trading warehouse receipts on behalf of clients and are employed by commodity dealing company,\u201d VFEX said.<\/p>\n

\u201cWarehouse persons will be responsible for the day-to-day operations of the warehouse operator and are employed by the warehouse operators.\u201d<\/p>\n

IH Securities noted that VFEX market capitalisation was 5,12% behind that of August, closing off the month at US$1,29 billion.<\/p>\n

Meanwhile, the All-Share Index gained 1,76% for the month.<\/p>\n

\u201cTotal value traded rose 29,97% to US$2,67 million, with Innscor and Simbisa leading values at US$0,97 million and US$0,75 million, respectively,\u201d IH Securities said.<\/p>\n

\u201cThe pipeline of counters migrating to the VFEX remains steady with the bourse aiming to secure four additional listings by the end of the year, with the most recent announcement of intent to list coming from mineral exploration company Kavango Resources.\u201d<\/p>\n

IH Securities said the VFEX last month recorded subdued liquadity.<\/p>\n

The VFEX is expected to widen the liquidity options through VCOMEX.<\/p>\n

For More News And Analysis About Zimbabwe Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. THE Victoria Falls Stock Exchange (VFEX) is operationalising the buying and selling of minerals on the soon-to-be functioning commodities exchange. Regulations governing the Victoria Falls Commodities Exchange (VCOMEX) were gazetted through Statutory Instruments 148 and 149 of 2024 to expand the securities offered on the VFEX. This comes as the pipeline of […]<\/p>\n","protected":false},"author":84,"featured_media":100056,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[19],"class_list":["post-100057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-zimbabwe"],"yoast_head":"\nVFEX readies for commodities exchange launch - zimbabwe<\/title>\n<meta name=\"description\" content=\"THE Victoria Falls Stock Exchange (VFEX) is operationalising the buying and selling of minerals on the soon-to-be functi ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/vfex-readies-for-commodities-exchange-launch\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VFEX readies for commodities exchange launch\" \/>\n<meta property=\"og:description\" content=\"THE Victoria Falls Stock Exchange (VFEX) is operationalising the buying and selling of minerals on the soon-to-be functi ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/vfex-readies-for-commodities-exchange-launch\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-29T20:53:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-29T22:59:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/10\/sm_1730230097.940497.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/vfex-readies-for-commodities-exchange-launch#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/vfex-readies-for-commodities-exchange-launch\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"VFEX readies for commodities exchange launch\",\"datePublished\":\"2024-10-29T20:53:18+00:00\",\"dateModified\":\"2024-10-29T22:59:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/vfex-readies-for-commodities-exchange-launch\"},\"wordCount\":536,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/vfex-readies-for-commodities-exchange-launch#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/10\/sm_1730230097.940497.jpg\",\"keywords\":[\"Zimbabwe\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/vfex-readies-for-commodities-exchange-launch#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/vfex-readies-for-commodities-exchange-launch\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/vfex-readies-for-commodities-exchange-launch\",\"name\":\"VFEX readies for commodities exchange launch - 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