Pakistan Mercantile Exchange ended the first quarter of FY13 with a record trading volume of Rs 385.58 billion in terms of value. This represents an increase of 40.71 percent on previous quarter. Over Rs 150 billion of traded volume was seen in September which is a monthly record, beating previous monthly high of Rs 129 billion set in August 2012.
Corresponding number of contracts traded in the quarter stood at 1,051,032 which is also a record. Number of active brokers reached a high of 67 and investor accounts were at record level of close to 8,000. Discussing the achievement, Amjad Khan, Acting Managing Director Pmex, added that: "This record volume sets a high benchmark for the exchange to continue performing in the coming months. It also gives us the assurance that an increasing number of Pakistani investors are placing their trust in Pmex as the only legal platform for commodities investing whilst adding commodities as an alternative asset class for their wealth portfolio diversification."
Pmex is showing continuous improvement and diversification in its product mix. Mansoor Ali, Chief Business Officer at Pmex commented: "Our product mix has been growing for quite sometime now as investors become aware of and familiar with different products. While gold has been the dominant product since the initial days, improvement in crude oil trading has been witnessed as it took a market share of 40 percent in the overall product mix of Pmex increasing from Rs 4.7 billion in September 2011 to over Rs 60 billion in September 2012." This reinforces the view that investors can use Pmex for all fuel hedging needs given the deep liquidity and trading volumes on the exchange.-PR
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