Tiamin Commodity Exchange (Upcoming Venture)
Tiamin Commodity Exchange, will offer a wide range of commodity trading services that are designed to meet the diverse needs of our clients. Our products will include:
TIAMIN COMMODITY EXCHANGE (TCX)(Upcoming Venture)
The Tiamin Commodity Exchange is a private company limited by shares that is incorporated to establish linkages between agricultural commodity producers and buyers, to secure competitive prices for their products, assuring the market quantity and quality as well as timely settlement of their trade.
TIAMIN Commodity Exchange is a regulated national and regional market linking buyers and sellers of agricultural and non- agricultural products to trade under rules and discover prices while assuring the market quantity and quality of the products and timely settlement.
TCX key goal is to link Nigerian smallholder farmers to agricultural infrastructure, best quality farm inputs, best agricultural practices and financial markets in Nigeria and across to ensure Nigeria farmers secure competitive prices for their commodities, as well as supply good quality commodities which meet the nutritional needs of the Nigerian people.
The TCX believe commodity exchanges are critical drivers of economic development and transformation. To this end, TCX is positioned as a national and regional exchange to formalize Nigeria’s agricultural sector and provide better access to agricultural and financial markets for participants.
TCX offers tremendous opportunities for Nigeria and indeed even the West African region with new opportunities to increase Nigeria’s competitiveness in global markets. TCX aims to promote the commercialization of the Nigeria’s agricultural sector, improve market access, increase market efficiency, and lower transaction costs.
TCX business operations consist of:
(1) a trading platform powered by a provider Trading system, and
(2) warehouse storage operations linked to the exchange through an electronic warehouse receipt system (e-WRS), backed by collateral management services.
Price Discovery
One of the primary advantages of the TCX trading system is to enable all users (farmers, cooperatives, buyers, brokers, merchants etc.) to trade anywhere in the country. Moreover, through the dissemination of data generated through the trading platform, the exchange provides participants with a price discovery mechanism that adds transparency and confidence, and enables participants to negotiate better prices.
Warehousing Operations
The warehousing operations linked to the exchange provide much needed value-added services including secure storage, product drying and grading, and re-packaging. The warehousing operations are supported by a collateral management system that enables warehouse operators to issue electronic warehouse receipts (e-WRs). Banks provide agricultural financing by using the e-WR as collateral.
Our Vision
To transform Nigeria’s economy by creating prosperity for all in commodity value chains, and become a regional and global trading hub for all commodities.
Our Purpose
To connect markets, connect people, provide opportunities by using the most modern, interactive and appropriate technology that meet the needs of our markets and stakeholders.
Obiectives
- To provide an efficient and risk free trading solutions that supports spots and forward trading.
- To build the capacity of our members to enable them use our infrastructure.
- To establish a fair and transparent price discovery mechanism.
- To develop trading solutions and support auctions, spots and futures tradethat are Shari’a Compliant.
- To provide a rigorous surveillance system that protect the integrity of our trade.
- To develop standards, contracts and dispute mechanism to reduce the risk of our members.
- To establish a reliable, efficient and guaranteed clearing & settlement systemthat is Shari’a Compliant.
Our Services
- Secure Storage with Grain Testing Facilities
- Grading to Meet National and International Standards
- Reliable, Fair And Transparent Price Discovery Process
- Settlement In Cash Within 24hrs
- Promote Accelerated Land Cultivation
BENEFITS OF TCX MEMBERSHIP
- Market Data,
- Commodities,
- Realtime Price of Market Information,
- Secured And Reliable Delivery Locations,
- Capacity Building For Farmers, Traders,
- Market Actors Linkages and
- Sourcing Grain from the entire West Africa and even Global Community Market.