MetaTrader 5 helps Pakistan exchange extend trading time

Rick Steves

PMEX facilitates trading, clearing, and settlement managed via MetaTrader 5 and the MT5 API’s are used to handle back-office and custody. 

The Pakistan Mercantile Exchange (PMEX) has used MetaTrader 5 to extend its trading operations time by one hour so that clients can now trade 22 hours per day.

MetaTrader 5 has built-in automation functions, which include clearing and settlement procedures, and PMEX was able to tweak the necessary settings through the platform in order to achieve its goal.

The extension of the trading time has streamlined the business growth and is attracting more investors and corporate clients from all over the country, according to PMEX representatives.

After the successful trading time extension to 22 hours per day, PMEX is now planning to make use of MetaTrader 5 again, this time to extend time further to 23 hours of trading operations.

MT5 reduced time required for End of Day procedures

The trading platform assisted in streamlining end-of-day (EOD) procedures, reducing the time required for EOD from 3 hours to a couple of minutes.

While PMEX completely switched to MetaTrader 5 from its own core in early 2021, PMEX traders, brokers, and market makers have been working only via its propriertary 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The integration helped PMEX in achieving three major goals for the exchange: replacing outdated trading facilities with an advanced and reliable system, completely automating all exchange trading processes, and reducing operational costs.

Ejaz Ali Shah, Managing Director of PMEX, said: “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.”

Pakistan Mercantile Exchange Limited (PMEX) is the country’s commodity futures exchange, licensed and regulated by the Securities and Exchange Commission of Pakistan (SECP).

PMEX facilitates trading, clearing, and settlement managed via MetaTrader 5 and the MT5 API’s are used to handle back-office and custody.

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