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Investor guide your local gateway to global markets 1

Investor Guide Your Local Gateway to Global Markets CContents Introduction Contracts Products PMEX Milli Tola Gold Red Chilli Weekly Futures Contracts Milli Ounce Gold Futures Contract Products in Pipeline Market Timings Regulatory Framework Regulator Trading Systems at PMEX NEXT Trading Terminal Trader Account Management System TAMS Clearing Settlement Reporting CSR System eBooks PMEX Brokers How to open an account with the broker Risk Management Research Training Steps of Trading at PMEX Cardinal Mistakes of Commodity Trading Glossary Annexure A CIntroduction Pakistan Mercantile Exchange Limited PMEX is Pakistan ? s ?rst and only multi-commodity futures exchange which is licensed and regulated by the Securities and Exchange Commission of Pakistan SECP It is the largest exchange of the country in terms of members and the second largest in terms of value traded after Pakistan Stock Exchange PSE Its shareholders include National Bank of Pakistan Karachi Lahore Islamabad Stock Exchanges Pak Kuwait Investment Co and Zarai Taraqiati Bank The Exchange o ?ers a diverse range of domestic and international commodities and ?nancial futures With a sophisticated infrastructure and state-of-the-art technology PMEX provides a complete suite of services i e trading clearing settlement custody as well as back o ?ce all under one roof The Exchange has a member base of and the average daily trading volume is normally in the range of PKR to billion PMEX ? s international a ?liations include Association of Futures Markets AFM and Futures Industry Association FIA CContracts Products PMEX o ?ers products that cater to the needs of all types of market participants such as investors who invest in commodities for long term traders who work with the aim of earning pro ?t based on their market strategy and hedgers who trade to mitigate their risk using commodity futures market There are kinds of contracts o ?ered at PMEX Deliverable Contract This is a contract which is settled through giving taking the actual delivery of the underlying commodity on ?nal settlement after the expiry day However the investor trader has the right to square o ? their open positions at any time before expiry and booked their pro ?t losses in term of cash Cash Settled Contract There is no obligation of giving taking deliveries of underlying commodities after the expiry of contracts The pro ?t loss transferred into the respective traders accounts on ?nal settlement day if their positions remained open on expiry However the investor trader has the right to square o ? their open positions at any time before expiry and booked their pro ?t losses in term of cash The commodities being o ?ered for trade at PMEX can be clubbed into four main categories precious metals Gold Silver agricultural Wheat Rice Palm Oil Cotton Sugar energy Crude Oil and ?nancial futures KIBOR Within each commodity the Exchange provides di ?erent contracts in terms of currency denomination contract size and tenor Though the Exchange o ?ers various commodities for investment trading bulk of the trade comes from gold silver and crude oil Products