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October 13, 2017

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PMEX lists 4 new futures contracts of higher denominations

PMEX lists 4 new futures contracts of higher denominations

KARACHI: Responding to the ever increasing demand of market participants, Pakistan Mercantile Exchange Limited (PMEX), the country’s only multi-commodity futures exchange, has listed contracts of higher denomination of actively traded commodities. These commodities include Silver (5,000 Ounce), Copper (25,000 Pounds), Crude Oil (1,000 Barrels) and Brent Crude Oil (1,000 Barrels). With the introduction of these contracts, PMEX now offers 13 international commodities in 20 denominations. Introduction of these contracts will facilitate the high net worth clients both individuals and corporates to participate in the market more actively. These contracts were made available for trading from Wednesday, October 4, 2017.

These futures contracts are of internationally traded denominations which are actively traded at global exchanges.The price quotation of these contracts is in USD but margins are received in PKR. Previously, PMEX offered trading in Silver (10, 100 and 500 Ounces), Copper (1,000 Pounds) and WTI Crude Oil & Brent Crude Oil (10 and 100 Barrels).

Speaking at the launch, Mr. Ejaz Ali Shah, Managing Director, PMEX said, “It is the endeavour of the Exchange to offer futures contracts of different commodities in multiple denominations for trading that not only adds depth to the market for the existing investors, but also attracts larger investors seeking trading, investing and hedging opportunities to diversify their portfolio.”***

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