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 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 Pakistani rupees.
At the launch of the new Futures Contracts, 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."-PR