Pakistan Mercantile Exchange announces agreement with Catalyst IT Solutions
Karachi, June 25, 2012 - Pakistan Mercantile Exchange (PMEX), the first technology-driven, web-based, de-mutualised Commodity Exchange in Pakistan, recently signed an agreement with Catalyst IT Solutions to provide them with a technology platform whereby PMEX brokerage houses will be able to offer multi asset/multi exchange online trading platforms, mobile trading platforms and SMS alert services to their clients.
Under this agreement, Catalyst IT Solutions has integrated “Kinetic”, its own front office trading software with the Electronic Trading System (ETS) of PMEX in a manner that would enable brokers of PMEX to use this software as well as offer it to their clients. The companies have agreed to establish a technological link whereby the front end trading system of PMEX ETS will integrate with Kinetic. The main components of Kinetic include: Trade Cast (an online trading platform), Tick (a mobile trading platform for iPhone, Android and Blackberry) and Flux (for SMS alerts).
Once the process of Integration is complete all orders of PMEX brokers can be placed and executed via the platform provided by Kinetic. This service will be available to all PMEX Brokers who opt to avail this facility via Kinetic for PMEX registered futures contracts.
“This initiative will expand the reach and scope of Business Activity of PMEX and is in line with the growth objectives and technology driven nature of the organization, said Mr Amjad Khan, COO of Pakistan Mercantile Exchange. He further added that, “Integration with Catalyst services will equip the PMEX brokers to offer investors the option to trade through an integrated channel”
The current year 2011- 2012 has seen Pakistan Mercantile Exchange grow 151 % in volumes vis a vis last year 2010- 2011. To keep up with business projections and visible growth potential in the coming years, the Board of the Exchange has recently approved a major enhancement in IT infrastructure including hardware, software and connectivity to take PMEX to the next level. The agreement with Catalyst is the first step among many that the Exchange will take in the coming year to meet the outlined requirements and offer a world class experience to its customers.