LAHORE - Pakistan Mercantile Exchange Limited announced the commencement of trading in the Sugar Futures Contract this week. Trading started in the February contract. PMEX has currently three contracts at the months of March, April and May.
The sugar contract launch marks a big step forward in the domestic commodities portfolio of Pakistan Mercantile Exchange.
First trades were done in the February contract, soon after the activation of the contract this month, the first trade in this contract also took place and has reached expiry also.
PMEX Sugar Futures are deliverable contracts. Trading Unit for the contract is 10 Metric Tonnes.
Primary advantage of the contract is to provide market participants with opportunities to trade and hedge over a transparent platform. Millers, processors and traders get the superior advantage of PMEX settlement guarantee mechanism whereby participants can eliminate counterparty risk from their trading.