Regulation greatest barrier to African derivatives exchanges
Technology shortfalls and lack of liquidity compound challenges
When the Bond & Derivatives Exchange (Badex) in Zambia concluded its first live trade at 2.49pm on April 15, a US dollar/Zambian kwacha futures contract, the man behind establishing the financial infrastructure necessary for it to happen hailed an “historic milestone in the Zambian financial markets” but also acknowledged it had been “a difficult path to reach this objective”.
Badex’s chief executive, Johannesburg-based Allan Thomson, continued: “This step is merely the beginning. Now that the
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