KARACHI, April 25: Pakistan Mercantile Exchange Limited (PMEX) announced on Wednesday that the gold 10 ounces futures contract was listed this week.

“Trading started in the contract right after listing,” a press release by PMEX stated, adding that the PMEX had currently three contracts at the months of June, July and August expiries.

The listing of the 10oz gold contract has added further depth to the market for the investors who actively invest and trade regularly in the commodity, the release said.

PMEX 10oz gold contracts are cash settled futures contracts. Trading unit for the contract is 10 troy ounces and the price quotation is in US dollars per troy ounce while the tick size is 10 per troy ounce. Primary advantage of the contract is to provide market participants with more options to trade and hedge over a transparent platform.

PMEX will continue to follow the tight risk management procedures and controls that it has pioneered in Pakistan and that have stood it in good stead, especially in recent times of immense volatility in the international markets.