Pakistan Mercantile Exchange
History
Pakistan Mercantile Exchange was founded as National Commodity Exchange Limited in 2005.
Pakistan Mercantile Exchange Limited started its operations in May 2007 as a fully electronic exchange with nationwide reach.
Pakistan Mercantile Exchange (PMEX) has started offering MetaTrader 5 (MT5) trading platform to all its market participants.
Trading
Pakistan Mercantile Exchange (formerly National Commodity Exchange Limited) initially started trading in Gold only. This listing was followed by the first gold physical delivery in August 2007. Additional Products were subsequently launched – IRRI -6 rice in March 2008 Palm Olien futures in June 2008 and KIBOR futures in Jan 2009. Crude Oil and Silver contracts were listed in Nov 2009. Recently the Sugar contract was also added on June 27, 2011.
The main commodities traded on the Exchange have been Gold, Silver and Crude Oil. There are various contracts in each. Gold has eight contracts namely Gold 1 ounce, Gold 100 ounce, Gold 1 Tola, Gold 50 Tola, Gold 100 tola, Gold Kilo, Gold 100 g, and Minigold 10 g. Tola gold and minigold are deliverable contracts. Furthermore, there are two contracts in Silver – 100 ounce and 500 ounce and two contracts in Crude Oil – 10 barrels and 100 barrels. The smaller lot sizes for Silver and Crude Oil were introduced very recently in June 2011.
The exchange registered trading volume of Rs 306 billion in October 2018.
References
- ^ "Pakistan Mercantile Exchange Annual Report 2023" (PDF). Retrieved 23 August 2024.
- ^ "Could PMEX transform the Pakistani farm for the better? Maybe". Profit by Pakistan Today. August 8, 2020.
- ^ "Pakistan Mercantile Exchange (PMEX) switches to MT5 trading platform". LeapRate. 28 February 2018. Retrieved 25 November 2018.
- ^ Reporter, The Newspaper's Staff (6 November 2018). "PMEX records highest volume". DAWN.COM. Retrieved 25 November 2018.