Pakistan Mercantile Exchange (PMEX), the country's only multi-commodity futures exchange, launched Brent Crude Oil Futures Contracts, duly approved by the Securities and Exchange Commission of Pakistan (SECP). These contracts are cash settled with trading units of 10 and 100 barrels and the price quotation is in USD but margins are paid in rupee.
At the launch of the Brent Crude Oil Futures Contracts, Ejaz Ali Shah, Managing Director, PMEX said, "We are delighted to add another product in our portfolio. With the introduction of this contract in our energy product mix, market participants can now trade in both Brent & WTI standards of crude oil. We are confident that the new product will provide an excellent opportunity for market participants such as refineries, oil marketing companies, airlines, etc to hedge their price risk."-PR
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