MetaTrader 5 announced on Tuesday that it had expanded Pakistan Mercantile Exchange’s trading hours by one hour, allowing clients to trade 22 hours a day.
According to the press release, the platform’s built-in automation functions, including clearing and settlement procedures, have largely enabled this.
PMEX representatives agree that the extension of trading hours has streamlined business growth, as the exchange now attracts more investors and corporate clients from across the country. With 23 hours of trading operations planned for the near future, the exchange intends to maximize the capabilities of its trading platform in order to provide seamless trading experiences to its customers.
Over the last year and a half, all PMEX operations have been managed by MetaTrader 5, while traders, brokers and market makers have been using MT5. Through the ECN functionality built into MetaTrader 5, the whole PMEX exchange operates on the MetaTrader 5 platform. With this integration, PMEX was able to replace outdated trading facilities with a sophisticated and reliable system and automate all exchange trading processes, thus reducing the operating costs of the exchange.
“The collaboration of PMEX and MetaQuotes in establishing the complete Exchange Suite has benefited both organizations tremendously. PMEX clients enjoy state-of-the-art diversified services, while MetaQuotes can boast the complete service offering, including front-end and exchange operations. We are also collaborating with MetaQuotes on some new initiatives, which will enable efficient physical trade management and settlements. These initiatives include Electronic Warehouse Receipts (EWRs), physical gold and government debt trading,” Ejaz Ali Shah, the Managing Director of PMEX, commented.
What Is PMEX?
As noted by Metaquotes in the announcement, Pakistan Mercantile Exchange Limited is the country’s first and only demutualized commodity futures exchange, licensed and regulated by the Securities and Exchange Commission of Pakistan (SECP).
