SECP approves listing of wheat futures on PMEX

ISLAMABAD: In an endeavour to augment the portfolio of agricultural commodities in the domestic futures market, the Securities and Exchange Commission of Pakistan (SECP) has approved listing of wheat futures contracts on Pakistan Mercantile Exchange Limited (PMEX).

Wheat futures contract is a pilot project, which would be carried out in district Sheikhupura, Muridke and adjoining areas, said a statement issued by the commission. Prominent stakeholders such as Pakistan Agricultural Coalition, Agriculture Department, government of Punjab, have also been involved in the consultation process for launch of this product to ensure its acceptability by the market participants.

The salient features of the PMEX wheat futures contracts include compulsory delivery, swift payment to seller or farmers, quality certification of wheat and availability of multiple grades of wheat for trading.

Published in The Express Tribune, April 26^th, 2017.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.