Sugar: SECP allows launch of futures contract

Pakistan Mercantile Exchange Limited (PMEX) granted permission for introduction of sugar futures contract.

LAHORE: The Securities and Exchange Commission of Pakistan (SECP) has granted approval to the Pakistan Mercantile Exchange Limited (PMEX) for introduction of sugar futures contract. The new contract adds to the existing agriculture futures contracts portfolio of PMEX which consists of rice and palm olein involving physical delivery. At least three contracts will be available for trading ie one contract in the current month and two in the subsequent months. The contract will be delivery-based with minimum contract size of 10 tons.

Published in The Express Tribune, May 5^th, 2011.