Investment in commodity is safe: Raeeda
November 21, 2012
Gold business is at brisk in Pakistan which surged to Rs 70 billion monthly while trading of rice, sugar and wheat and other Pakistan products, gold, silver, crude oil, palm oil and other foreign products was in progress.
Pakistan Mercantile Exchange (PME) is the only platform in Pakistan to buy, sell, trade – gold, silver, crude oil, agriculture and financial futures, as it is the first technology driven, web-based, demutualised commodity exchange in Pakistan, said Raeeda Latif a representative of PME while delivering her lecture on commodity trading in Multan Chamber of Commerce and Industry (MCCI) today.
She said that investment in commodity is fearless and safe because security of capital was the responsibility of the exchange. She told the audience that commodity trading through exchange was not a new system but it was operational for the last 150 years.
She said that 30 brokers had joined Pakistan Mercantile Exchange. She said that Pakistani products and their traders were acknowledged in the world. Pakistan Mercantile Exchange is licensed and regulated by the Securities and Exchange Commission of Pakistan (SECP) and has a 100 percent institutional shareholding. It started its operations in May 2007 as a fully electronic exchange with nation-wide reach. PMEX is committed to provide a world-class commodity futures trading platform for market participants to trade in a wide spectrum of commodity derivatives, driven by best global practices, professionalism and transparency. It is the first Exchange in Pakistan to employ modern risk management techniques based on value-at-risk with a pre-trade risk check in real time.