Urdu
Karachi – May 23, 2017: Pakistan Mercantile Exchange (PMEX), the country’s only multi-commodity futures exchange is relentlessly striving to broaden its product range by launching a diversified product mix. In this regard, PMEX has launched Cash Settled Futures Contracts of Natural Gas and Platinum. These Contracts have been duly approved by the Securities and Exchange Commission of Pakistan (SECP) and have been made available for trading from Tuesday, May 23, 2017.
With the introduction of Natural Gas and Platinum Futures Contracts, the Exchange’s cash settled product portfolio now offers a total of 13 different commodities of varied denominations.
The Natural Gas contracts are being offered in 1,000 & 10,000 mmbtu denominations, whereas Platinum contracts are being offered in 5 & 50 troy ounces denominations. Additionally, the price quotation for all contracts are in USD, however, margins are paid in PKR.
At the launch of the new Futures Contracts, Mr. Ejaz Ali Shah, Managing Director, PMEX said: “The Exchange is delighted to offer two more products and is confident that with their introduction, brokers will be able to cater another niche market and investors will also be able to diversify their investment portfolio. I am thankful to the Securities & Exchange Commission of Pakistan (SECP) for their continued patronage to PMEX. The diversified product range available to market participants today would not be possible without the visionary resolve of the SECP.”
Natural gas is one of the most significant sources of energy in the world and is therefore critical for global economic growth. In Pakistan, natural gas is produced in significantly large quantity. Its main uses are in power generation, transportation and domestic consumption.
Platinum is a dense, malleable, ductile, highly unreactive, precious, and transition metal. It is used as a catalyst in laboratory equipment, electrical contacts and electrodes, thermometers and jewelry. In Pakistan, platinum is used in various manufacturing industries.
Market participants are encouraged to visit our website www.pmex.com.pk to view details of the product offerings and related information.
