In order to create awareness amongst the masses and to increase the level of participation in commodity trading, the National Commodity Exchange Limited (NCEL) in association with Islamabad Stock Exchange (ISE) held a session for the ISE Brokers and investors at ISE Auditorium, Islamabad.
The session mainly focused the nature and importance of commodity trading and the role of NCEL in promoting commodity trading in Pakistan. The session was attended by a large number of brokers and investors. Speaking at the occasion, Mansoor Ali, Chief Business Officer of the NCEL apprised that the commodities trading is a fast developing market in Pakistan and the same is expanding at exponential levels.
He said that the public recognises the need for diverse financial instruments and are moving towards commodities trading. He informed that presently NCEL is dealing in gold, Silver, Crude Oil, IRRI- 6 Rice, Palm Olien and Kibor Futures whereas other commodities including sugar, cotton, wheat, copper, and zinc are in pipeline. Mansoor apprised the participants that last year NCEL had reached a new record with total traded value amounting to Rs 200 billion and 700,000 contracts.
Replying to various questions of the participants, Sameer Ahmed, CEO of NCEL said that the growth rate of the commodity market was quite satisfactory and its future will be very bright. To certain other queries, Imtiaz Haider, Managing Director ISE said that the ISE holds 12% stake in the NCEL and have helped the NCEL in educating the public and increasing the participation in commodity trading. He informed that there was active participation in commodity trading by ISE brokers.
It may be noted that NCEL is the first technology driven, demutualized on-line commodity futures exchange in Pakistan that is committed to provide a world-class commodity futures trading platform for market participants to trade in a wide spectrum of commodity derivatives, driven by best global practices, professionalism and transparency. NCEL's shareholders includes KSE, ISE, LSE, Pak Kuwait Investment Company (Pvt) Limited, and Zarai Taraqiati Bank.-PR