Pakistan Mercantile Exchange Limited (PMEX) has announced the listing of the gold 10 ounces futures contract this week. Trading in the newly-inducted contract started right after the 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 in Pakistan and that have stood it in good stead, especially in recent times of immense volatility in the international markets.