Home / Knowledge / News / Textiles / PMEX begins second innings with ICotton Contract
PMEX begins second innings with ICotton Contract
23
Apr '15
The Pakistan Mercantile Exchange (PMEX) has re-launched International Cotton (ICotton) contract which is duly approved by Securities & Exchange Commission of Pakistan (SECP), it said in a statement. The contract aims to offer opportunities to the entire value chain of the textiles sector to hedge the risk of price variation of their basic raw material, Cotton. PMEX has re-launched the contract based on the response of the market participants and growing interest of investors in ICotton futures contract.

PMEX has inducted a new market maker who will ensure ample liquidity in the market to facilitate entry and exit of investors. Pakistan is among the top five cotton producers of the world and nearly two-thirds of its export proceeds come from textiles and clothing.

One of the main features of PMEX ICotton contract is that the price of the contract is referenced to the futures contract of Intercontinental Exchange (ICE), USA which is considered as the most liquid global cotton pricing benchmark, the price quotation offered is in US Cents/pound and it is a cash settled contract in PKR with no physical delivery involvement. These unique features of the contract gives the local market participants an international flare with the ease and convenience of local trading.

Speaking at the re-launch of the contract, Ejaz Ali Shah, Managing Director, PMEX said, “We are glad to announce activation of another product, ICotton. PMEX’s ICOTTON Contract offers the cotton industry an opportunity to hedge their price risk in a safe and transparent environment using a convenient state-of-the-art trading platform.” (SH)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th May 2017

Huntsman and Clariant to have merger of equals

Huntsman Corporation and Clariant have announced that their boards of ...

Courtesy: CBRE

Apparel/Garments | On 25th May 2017

European cities preferred for retailer expansion: CBRE

European cities were the preferred new destination for international...

Apparel/Garments | On 25th May 2017

Guess records $458.6 million revenue for Q1 2018

For the first quarter of fiscal 2018, the net revenue of American...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search