PMEX announces listing of 10 oz Gold Futures Contract
Karachi–Tuesday 24 April 2012. Pakistan Mercantile Exchange Limited announces the listing of the gold 10 ounces Futures Contract this week. Trading started in the contract right after listing. PMEX has currently three contracts at the months of June, July and August expiries.
The listing of the 10 oz gold contract has added further depth to the market for the investors who actively invest and trade regularly in the commodity.
PMEX 10 Oz Gold contracts are cash settled futures contracts. Trading Unit for the contract is 10 Troy Ounces and the price quotation is in US dollars per troy ounce while the tick size is .10 per troy ounce. Primary advantage of the contract is to provide market participants with more options to trade and hedge over a transparent platform.
PMEX will continue to follow the tight risk management procedures and controls that it has pioneered inPakistanand that have stood it in good stead, especially in recent times of immense volatility in the international markets.
ABOUT: Pakistan Mercantile Exchange Limited isPakistan’s first and only technology based commodity and futures exchange. It is licensed and regulated by the Securities and Exchange Commission ofPakistan. Its shareholders are National Bank of Pakistan, Pak Kuwait Investment Co, Zarai Taraqiati Bank and the three stock exchanges of the country. PMEX currently lists various contracts for trading in Gold, Silver, Crude Oil, IRRI6 Rice, Palm Olein, Sugar and Kibor.
For more information: www.pmex.com.pk