The Trade and Industry ministry has prepared draft laws for the establishment of a commodities exchange as it rushes to beat a December deadline agreed among East African countries.
The draft laws include several amendments to the Capital Markets Authorities Act and a set of standards to guide the exchange. Commodities Exchange is a platform where various commodities and derivatives are traded. Agriculture and raw materials like wheat, barley, Sugar, maize and milk are popular products in commodities exchanges.
According to Trade and Industry Principal Secretary Chris Kiptoo, the amendments to the CMA Act will empower the authority to regulate the commodities exchange. Read more. Source | Daily Nation