The National Commodity Exchange will start mock trading in early June after providing requisite training to members. The training will begin on May 24 and may require up to two weeks to complete.
This was stated by Assim Jang, Managing Director, National Commodity Exchange Limited (NCEL), while making a presentation to the Institute of Chartered Accountants of Pakistan (ICAP) members on Thursday.
He said NCEL would be Pakistan's first fully electronic exchange, which will provide an easy and equal access to all market participants.
Its regulations are based on international 'Best Practice' that have evolved over 150 year since the launch of futures trading on the Chicago Board of trade.
Initially cotton yarn and gold will be traded on the exchange. The exchange will provide a platform to farmers and manufacturers, for managing their price-risk using standardised market based future contracts in gold, cotton yarn, rice, wheat, sugarcane, etc to be listed on NCEL.