Draft rules for commodities exchange ready
What you need to know:
- This follows the gazettement of the Capital Markets (Futures Exchanges) licensing requirements in June to facilitate the establishment of the market segment.
The process of setting up a market exchange for commodities is inching closer to reality following the completion of draft rules guiding its operation.
In a statement on Monday, the Capital Markets Authority (CMA) said it had finalised the draft Futures Licensing Regulations for the exchange’s operation and licensing of brokers.
This follows the gazettement of the Capital Markets (Futures Exchanges) licensing requirements in June to facilitate the establishment of the market segment.
“The Authority while exercising regulatory supervision will focus on solvency of market intermediaries, conduct of business and complete protection of clients’ assets to achieve a fair and an efficient market,” said the authority’s acting chief executive officer, Mr Paul Muthaura
