Pakistan Mercantile Exchange has acquired memberships of Association of Futures Markets (AFM) and World Federation of Exchanges (WFE). Both are prominent bodies where exchanges, financial market institutions and other industry participants come together to work for the development and growth of Exchange-traded Futures Markets.
The Association of Futures Markets (AFM) is a not-for-profit association formally established in 1998. The prime objective of AFM is to promote and encourage the development of new derivatives exchanges worldwide from established to the emerging markets.
Samir Ahmed, MD Pakistan Mercantile Exchange had the honor of receiving an invite and attending the 15th Annual AFM Conference that was held in Budapest last month. He represented PMEX for formal induction as Associate Member.
He also spoke on “The Derivatives Market Outlook for Emerging Markets in Asia” alongside representatives from TAIFEX, NYSE Euronext and Istanbul Stock Exchange. With the inclusion of PMEX, AFM now has 34 members out of 26 countries.
PMEX also participated at the World Exchange Congress 2012, titled “Maintaining a Competitive Edge” where PMEX COO, Amjad Khan was invited to speak on ‘Preparing your Exchange for remote access nodes and Foreign Markets’.
PMEX is Pakistan’s first and only technology based commodity and futures exchange. It is licensed and regulated by the Securities and Exchange Commission of Pakistan.
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, Wheat and Kibor.
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