PMEX posts highest ever profit for FY19

KARACHI: Pakistan Mercantile Exchange Limited (PMEX), the country’s only multi-commodity futures exchange, has posted the highest-ever profit after tax for the financial year ended June 30, 2019 (FY19), since commencement of its operations in 2007.The Exchange has earned profit after tax of PKR 52.347 million for the FY19. The operating income of the Exchange grew to PKR 318.976 million for the year under review from PKR 264.607 million posted for FY18, registering an increase of 20.55 percent. The trading volume for FY19 was recorded at PKR 2.912 trillion as compared to PKR 1.442 trillion for FY18.This outstanding financial performance of the Exchange can be attributed to the several initiatives undertaken by the Exchange during FY19. These include enhancement of product portfolio, induction of new members & liquidity providers, introduction of Direct Fund Model that enabled traders to directly deposit and withdraw funds, improvement in customer support services and increasing awareness about the benefits of futures trading at a regulated exchange.Commenting on the financial performance, Mr. Ejaz Ali Shah, Managing Director, PMEX, said that customer centric focus has been the key to the ongoing financial success of the Exchange. He further said that the canvas of the Exchange is wide and we are determined to create more opportunities for our brokers and customers in coming years especially with regards to the local commodities under the guidance of our Board of Directors and the Securities and Exchange Commission of Pakistan.***

from The News International - Karachi https://ift.tt/36FOMbs