November 23, 2018 (MLN): Pakistan Mercantile Exchange (PMEX), has listed cash settled futures contracts of corn, wheat, soybean, palladium and Japan equity index $1 & $5 and made them available for trading from November 20, 2018.
These six futures contracts are based on universally traded benchmarks and the trading and operational mechanism is similar to the already listed contracts of international commodities at the Exchange.
According to an official press release by the country’s only commodity futures exchange, the introduction of these contracts will enable PMEX brokers to cater to the needs of a wider market segment.
Moreover, the market participants will not only get a diversified range of commodities to broaden their investment portfolio but also enjoy the added advantage to trade and hedge the risk of price volatility in an efficient and convenient manner.
At present, the Exchange offers 22 commodities with 110 contracts of different denominations which can be clubbed into six main asset classes: metal, agriculture, energy, Indices, Currencies and financial futures.
Commenting on the listing of new futures contracts, Mr. Ejaz Ali Shah, Managing Director, PMEX said, “We are delighted to add six new futures contracts in our portfolio. We relentlessly strive to broaden our product range by launching a rich mix of products to further enhance our product portfolio. In recent months, we have witnessed a significant surge in the trading volume that signifies the growing interest of market participants in using our diversified product suite to invest, trade and hedge at a regulated platform”.
