SECP approves US equity index futures contracts

KARACHI: The Securities and Exchange Commission of Pakistan (SECP), having notified the ‘International Equity Index’ as a financial instrument for the purposes of Futures Market Act, 2016, has accorded approval for trading of US equity index futures contracts through the platform of Pakistan Mercantile Exchange (PMEX), a statement said on Thursday.

These futures contracts would further enrich the existing product portfolio of Pakistan Mercantile Exchange, which includes commodities such as gold, silver, crude oil, international cotton, platinum, natural gas, copper, red chilli, paddy rice, wheat, etc, it added.

“Trading of international equity index futures contracts through PMEX is envisaged to create awareness among investing public about US equity indices such as Dow, NASDAQ, and S&P,” the statement said.