Malawi's First Commodity Exchange Delivered by InterContinental Systems's Technology Solutions

KATHMANDU, Nepal and SINGAPORE, Aug. 16, 2013 /PRNewswire/ -- InterContinental Systems (ICS) is pleased to announce that AHL Commodities Exchange Ltd. (AHCX) has successfully started live operations in Malawi using exchange technology provided by ICS. AHCX is a newly formed commodity exchange in Malawi with the primary objective of providing efficient marketplace for different kinds of agricultural commodities, which will contribute to the betterment of Malawian national agricultural economy and ecosystem.

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ICS delivered seamless technology solutions to AHCX for their

• Electronic Warehouse and Collateral Management System
• Client and Membership Management System
• Quality Grading and Certification
• Trading Operations System
• Risk Management and Surveillance system
• Clearing and Settlement System
• Market Information System

Santosh Pradhan, Chief Executive Officer, ICS, says: 
"Our selection by AHCX fully illustrates the breadth of ICS's capabilities with the provision of exchange, trading, and risk management technology. Our systems are flexible enough to be used independently, or in this case, integrated into one comprehensive exchange ecosystem. This opportunity demonstrates the pedigree of the ICS technology stack and, combined with our work in 2009 for the Nepal Derivative Exchange, demonstrates the growth potential in our business as a technology provider to exchanges." 

ERD Matabwa, Chairman of the Board, AHCX, says: 
"AHCX selected ICS after a thorough and extensive bid review of many vendors on the market from countries India, South Africa, Ethiopia etc. ICS demonstrated its capability to deliver the solution to our utmost satisfaction. ICS was able to provide the exchange, software systems required by AHCX as an integrated package without any problems and as per agreed schedule. We believe that this project will be a candidate for innovation awards within the commodity exchange industry. The new technology platform in terms of integration and simplicity is an important foundation of AHCX future growth plans." 

About ICS:
InterContinental Systems (ICS), a Nepal & Singapore based international software company specialized in providing complete financial solutions for exchange and ecosystem. ICS delivers tailored solutions, built from modular components, to enhance cash and derivatives trading performance and trade processing. We work in partnership with our customers to deliver robust systems that align with their business strategies. Our solutions can range from a plug-and-play module to address a specific issue, to complete high-performance trading systems with global market access. We are the sole technology partner of 'Nepal Derivate Exchange' (NDEX), Nepal's number 1 commodity and derivative exchange. We are also the minds and hands behind the setup of 'AHLCommodity Exchange Ltd.' (AHCX), Malawi's first commodity exchange. Visit us at http://www.intercontinentalsystems.com

About AHCX:
AHL Commodities Exchange, (AHCX - http://www.ahcxmalawi.com), is Malawi's answer to the need of organized markets. Established by Auction Holdings Limited, A company having extensive experience in operating organized markets for tobacco in Malawi, AHCX is a demutualized market institution, where buyers and sellers are able to trade in commodities with an assurance on quality, delivery and payment. We have to remember here that 70% of national export of Malawi is Tobacco. AHCX, powered by its robust design, is now able to provide an opportunity for international buyers to directly buy from the producers through the exchange platform. The market is fully electronic market, bringing in transparency and empowering the farmers by disseminating market information in real time to all market participants. Presently it is trading in spot trade, with a plan to provide the market with options for risk management by offering futures trading.

Contacts: 
Santosh Pradhan 
CEO, ICS 
Phone: +977-9801033396/+65-31-585190 
Email

ERD Matabwa  
Chairman, AHCX                                              
Phone: +265-1710297 
Email 

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SOURCE InterContinental Systems