Study calls for merger of two commodity exchanges - The Nation Online: A study by� International Food Policy Research Institute has called for a merger of warehouse receipt systems (WRS) operated by the AHL Commodities Exchange (AHCX) and the Agriculture Commodity Exchange for Africa (ACE).
The study titled Commodity Exchanges and Warehouse Receipts in Malawi: Current Status and Their Implications for the Development of Structured Markets by Bob Baulch indicates that operating WRS in parallel with other warehouse receipts issued by large trading companies complicates collateral financing making it more risky than necessary.
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