PMEX extended its trading time to 22 hours thanks to MetaTrader 5

MetaTrader 5 has enabled Pakistan Mercantile Exchange to extend its trading operations time by one hour and clients can now trade 22 hours per day
By: MetaQuotes
LIMASSOL, Cyprus - July 13, 2022 - PRLog -- MetaTrader 5 has enabled Pakistan Mercantile Exchange to extend its trading operations time by one hour and clients can now trade 22 hours per day. This has been made possible mainly through the platform's built-in automation functions, which include clearing and settlement procedures. The exchange representatives are of the view that the extension of the trading time has streamlined the business growth as PMEX is now attracting more investors and corporate clients from all over the country. The exchange plans to further utilize the trading platform capabilities in an effort to provide seamless trading experience to its customers, leading to 23 hours of trading operations.

Mr. Ejaz Ali Shah, Managing Director of PMEX, commented on the extension: "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."

As stated earlier, the new trading platform assisted in streamlining end-of-day (EOD)procedures thereby reducing the time required for EOD from 3 hours to a couple of minutes. PMEX completely switched to MetaTrader 5 from its own core in early 2021. For a year and a half, the exchange has been accurately managing all operations through MetaTrader 5, while PMEX traders, brokers, and market makers have been working only via our platform. The MetaTrader 5-based operation of the whole PMEX exchange is implemented through the platform's built-in Electronic Communication Network (ECN) functionality. The integration helped PMEX in achieving three major goals: replacing outdated trading facilities with an advanced and reliable system, completely automating all exchange trading processes, and reducing operational costs.

Pakistan Mercantile Exchange Limited (PMEX) is the country's first and only demutualized commodity futures exchange, licensed and regulated by the Securities and Exchange Commission of Pakistan (SECP). Based on sophisticated multi-dimensional infrastructure and state-of-the-art technology, PMEX offers a complete suite of services, including trading, clearing, and settlement managed via MetaTrader 5. As far as back-office and custody are concerned, both are handled by using MetaTrader 5 API's.

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Mikhail Kirilin
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