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West Africa Energy Exchange

HOW IT WORKS

From Application to First Trade

A clear path to accessing West Africa’s energy markets. Our team guides you through membership, platform setup, and your first transaction.

THE TRADING LIFECYCLE

Five Steps to Market Access

1

Apply for Membership

Submit your company details, regulatory licenses, and financials. Our membership team reviews within 5 business days.

Day 1–5

2

Complete Due Diligence

KYC, AML screening, and credit assessment. Required for all trading and clearing access.

Day 6–15

3

Sign Agreements & Post Margin

Execute membership, trading, and clearing agreements. Post the initial margin to your clearing account.

Day 16–20

4

Platform Onboarding

Receive API credentials and terminal access. Complete certification with our trading support team.

Day 21–25

5

Go Live & Trade

Access live markets. Execute your first trade with dedicated dealer support standing by.

Day 26+

MEMBERSHIP

Choose Your Level of Market Access

Three tiers are designed for different trading profiles — from single-product access to full multi-market participation.

5,000,000 CFA

/ year

Trading Member

For commercial traders, refiners, and producers

  • Access to all 5 product markets
  • Full trading rights: buy, sell, market-making
  • Clearing & settlement services
  • Real-time market data (Level 2)
  • FIX API connectivity
Apply Now

3,500,000 CFA

/ year

Broker Member

For licensed broker-dealers and intermediary firms

  • Client order execution
  • Access to all product markets
  • Limited proprietary trading (25% of volume)
  • Real-time market data (Level 2)
  • FIX API connectivity
Apply Now

1,200,000 CFA

/ year

Information Member

For data consumers, analysts, and non-trading entities

  • Real-time market data (Level 1)
  • Historical data access (2 years)
  • Historical data access (2 years)
  • No trading rights
  • Web API access
Apply Now

TECHNOLOGY

Built for Speed. Designed for Traders.

Web Terminal

Full-featured browser-based trading. No installation required. Real-time order book, charting, and position management.

Mobile App

iOS and Android apps for market monitoring, order entry, and alerts. Never miss a market move.

FIX API

Industry-standard FIX 4.4 protocol. Integrate your existing OMS/EMS directly to the WEEX matching engine.

Risk Management

Real-time position limits, margin monitoring, and pre-trade risk checks. 24/7 risk desk support.

<1ms Latency

WAEE Trading Terminal v2.4

BON-LIGHT

$82.15

BID

82.14

120

82.12

150

82.10

180

82.08

210

82.06

240

BID

82.14

150

82.12

175

82.10

200

82.08

225

82.06

250

CLEARING & SETTLEMENT

Central Counterparty. Multi-Currency. T+1.

Central Counterparty

WEEX Clearing acts as buyer to every seller and seller to every buyer. Counterparty risk is minimized through novation and a robust default fund.

Margin & Collateral

Initial margin and daily variation margin requirements calculated using SPAN methodology. Acceptable collateral: cash (USD, NGN, EUR), bank guarantees, and sovereign bonds.

T+1 Settlement

Standard settlement cycle of trade date plus one business day. Same-day settlement available for qualifying members. Multi-currency settlement accounts.

USD 🇺🇸

CFA/NGN

EUR 🇪🇺

ELIGIBILITY

Who Can Join WEEX?

Eligible Entities

  • Registered companies with a minimum of 2 years of operating history
  • Valid petroleum sector license (where applicable)
  • Minimum paid-up capital per tier requirements
  • Clean regulatory and compliance record
  • Demonstrated expertise in relevant energy markets
  • International entities welcome (subject to jurisdiction checks)

Required Documentation

  • Certificate of Incorporation
  • Audited financial statements (last 2 years)
  • Board resolution authorizing trading
  • KYC/AML compliance officer designation
  • Bank reference letter
  • Regulatory license copies (if applicable)

FREQUENTLY ASKED

Common Questions

Standard review is 5–7 business days from complete application. Complex applications (international entities, special licenses) may require up to 15 business days.

Trading Members: ₦500 million minimum paid-up capital. Broker Members: ₦250 million. Information Members: no capital requirement. Additional margin requirements apply based on trading activity.

Yes. WAEE accepts international members from all jurisdictions not subject to sanctions. Remote trading via API or web terminal. Settlement in USD available for international members.

Web terminal: any modern browser. FIX API: dedicated connection (VPN or leased line). Mobile apps: iOS 14+ or Android 10+. No proprietary hardware required.

Physical delivery is coordinated through WAEE’s nominated terminals and inspection agents. Financial settlement occurs T+1. Title transfer is registered with WAEE upon confirmed delivery and quality acceptance.

Delayed data (15-minute delay) is freely available on our website. Real-time data requires a data license or membership. Historical tick data available via API subscription.

Begin Your Application Today

Our membership team is ready to guide you through every step. Most members are trading within 30 days.

Questions? Contact us at membership@waee.ng or +234 1 XXX XXXX