What an exchange does
A stock exchange is an organized marketplace where buyers and sellers of securities meet under published rules. Today this happens electronically, so prices come from real orders placed by real investors.
Stock Market Basics · Lesson 2 of 10
The exchange, the regulator and who is listed
What a stock exchange does, how the ESX differs from ECMA, and which companies trade today.
5 minutes · 7 questionsLesson 2 · Card 1 of 4
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What an exchange does
A stock exchange is an organized marketplace where buyers and sellers of securities meet under published rules. Today this happens electronically, so prices come from real orders placed by real investors.
The ESX
The Ethiopian Securities Exchange (ESX) operates the market. It began trading in January 2025. Companies apply to be listed, and once listed their shares can be bought and sold through the exchange.
ECMA, the regulator
The Ethiopian Capital Market Authority (ECMA) is the regulator. It develops the market, registers securities and licenses the firms that provide capital-market services. The ESX and ECMA do different jobs.
Who is listed
As of October 2026 the ESX register shows seven listed companies: six banks and Ethio Telecom. The list grows over time, so always check the ESX's own listed-companies page.