KARACHI: Pakistan Mercantile Exchange Limited (PMEX) has acquired a majority shareholding in Naymat Collateral Management Company Limited (NCMCL), making it a subsidiary of the exchange, according to a statement.
The investment received approval from PMEX’s Board of Directors and was subsequently cleared by the Securities and Exchange Commission of Pakistan (SECP). The acquisition is aimed at strengthening storage and collateral infrastructure for regulated commodity and agricultural markets in the country, the statement said.
NCMCL is expected to expand its capabilities in collateral management and warehousing, which the exchange described as critical foundations for building efficient, transparent and delivery-backed agricultural markets in Pakistan.
The move coincides with PMEX’s efforts to introduce physically deliverable agricultural commodity futures trading. The exchange has listed wheat, rice, sugar, and maize as part of a push to establish a structured and regulated marketplace for essential agricultural products.
Khurram Zafar, chief executive officer of PMEX, said the acquisition represented a strategic step towards building infrastructure for physically deliverable commodity markets. He added that it would support the development of a more transparent, efficient and secure ecosystem for participants across the agricultural value chain.PMEX operates under the regulatory oversight of the SECP, with a mandate to promote regulated commodity trading, transparent price discovery and improved market access.
