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Pakistan Mercantile Exchange, formerly known as National Commodity Exchange Limited is a futures commodity exchange based in Karachi, Pakistan. It is the only company in Pakistan to provide a centralised and regulated place for commodity futures trading and is regulated by Securities and Exchange Commission of Pakistan (SECP). It began its full trading operations on 11 May 2007.
 | |
| Formerly | National Commodity Exchange Limited |
|---|---|
| Company type | Unlisted public company |
| Industry | Commodity exchange |
| Founded | 2005 |
| Headquarters | 3B, 3rd Floor, Bahria Complex IV, Ch. Khalique-uz-Zaman Road, Gizri, Karachi, Pakistan |
| Products | Futures exchange |
| Revenue |  Rs. 676.902 million (US$2.3 million) (2023) |
| Rs. 225.521 million (US$780,000) (2023) | |
| Rs. 199.485 million (US$690,000) (2023) | |
| Total assets | Rs. 4.770 billion (US$17 million) (2023) |
| Total equity | Rs. 305.866 million (US$1.1 million) (2023) |
| Owner | National Bank of Pakistan (33.98%) Pakistan Stock Exchange (28.41%) ISE Towers REIT Management (17.76%) LSE Financial (7.25%) Pak Brunei Investment Company Limited (6.80%) |
| Subsidiaries | Global Commodity Trading Platform (Private) Limited |
| Website | pmex |
| Footnotes / references Financials as of 30 June 2023[update][1] | |
History
editPakistan Mercantile Exchange was founded as National Commodity Exchange Limited in 2005.[2][3]
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.[4]
Trading
editPakistan 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 27 June 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.[5]
References
edit- ^ "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. 8 August 2020.
- ^ Hussain, Dilawar (1 November 2002). "NCEL barred from proceeding further: Futures trading in cotton". DAWN.COM.
- ^ "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.
External links
edit24°50′41″N 66°59′36″E / 24.8447°N 66.9934°E
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