SHAMROCK Communications (Pvt.) Ltd.

public relations, marketing services, publications, conferences, event management

SC Media Centre - National Commodity Exchange Limited (NCEL)

NCEL volumes show more than 1,000 % in FY 2009-10


Karachi: July 08, 2010 – Trading volumes at National Commodity Exchange Limited (NCEL) have shown exponential growth over the financial year 2009-10 making it the country's second largest exchange in terms of traded value. It is already the largest exchange of Pakistan in terms of membership.

During financial year FY2009-10, total traded volume in rupees increased to Rs.63.34 billion with the number of contracts traded rising to 314,670. Comparable figures for previous year were Rs10.25 billion and 24,571. This represents a growth of 518% in traded value and 1181% in the number of contracts traded during the year.

Samir Ahmed, Managing Director, NCEL stated, "increasing growth is coming about as a result of newer products, low transaction costs, tight spreads, deep liquidity, growing membership and efficient systems that make it very easy for brokers and their clients to transact and manage their trades".

NCEL is Pakistan's first and only demutualised commodity futures exchange. Its shareholders are National Bank of Pakistan, Pak Kuwait Investment Co, Zarai Taraqiati Bank and the three stock exchanges of the country. NCEL currently lists various contracts for trading in Gold, Silver, Crude Oil, IRRI6 Rice, Palm Olein and Kibor.
Fore more details visit: www.ncel.com.pk  or call 111-623-623

NCEL executes crude oil and silver futures contracts

Karachi: January 26, 2010 – Crude Oil and Silver Futures contracts were successfully executed at National Commodity Exchange Limited (NCEL), Pakistan's only regulated and technologically advanced platform. The newly introduced commodities are attracting volumes with Crude Oil 100 barrel futures contract amounting to US $ 615,952 (PKR 52 million) and Silver 500 ounce futures contract observing trades worth US $ 72,911 (PKR 6 Million) during the last week.

Mr. Samir Ahmed, Managing Director NCEL said "These international, US Dollar-denominated contracts now allow direct linkages to the international markets eliminating the exchange rate risk and allowing investors a pure play on commodity price itself. The contracts will add further depth and liquidity to the NCEL platform and create opportunities for new trading and advanced hedging strategies. The listing of these contracts marks an important milestone in this phase of growth for NCEL".

NCEL is a gateway to an electronically transacted marketplace, with trading, central party clearing and settlement facility; where customers continue to rely on liquidity, price transparency and ensured settlement. The exchange is a reliable and secure platform boasting increased retail and institutional investor demand for over the counter trades and mitigating the risks of counterparty default. This provides effective hedging tools for trade, industry and other market participants who may be exposed to energy and precious metal price risks.

According to Ms. Raheela Khan, Senior Manager at NCEL, the exchange is currently providing trade facilitates in Gold, Silver, Crude Oil, IRRI-6 Rice, Palm Oil and Interest Rate Futures. "During 2009, total rupee traded volume touched 28,029,469,905 with a total of 86,883 contracts reflecting a year- over- year growth of 4485%" informed Raheela. She further pointed, Dec 09 was an exceptional month with a 5.3 billion rupees monthly volume, setting a daily average traded value of 300million rupees and marked the highest ever day trade volume record of 1.29 billion rupee. NCEL volume growth has been phenomenal in 2009 breaching ISE and nearing LSE volumes, however, volumes were mostly concentrated in gold.

In 2010, these volumes are to grow substantially with growing institutional investors and several agricultural, metals, and financial futures contracts to be listed. These new electronically-traded contracts are offered continuously for 20 hours a day from 10am to 6am, five days a week. NCEL is Pakistan's first and only demutualised exchange with a 100% institutional shareholding. It has 290 members spread all over Pakistan.
Fore more details visit: www.ncel.com.pk  or call 111-623-623

NCEL's Board of Directors reconstituted

Karachi: June 21, 2010 – A new Board of Directors of National Commodity Exchange Limited (NCEL) has been constituted after the completion of the 3 year tenure of the previous board. The new board held its first meeting on Tuesday 15th June and elected Mr Kamran Y Mirza as the chairman. Mr Mirza is the CEO of the Pakistan Business Council and also chaired the previous board since March 2009.

The new Board includes shareholder representatives as well as independent directors. The independent directors are Kamran Mirza, Ayesha Aziz (MD, Pak-Brunei Investment Co), Hanif Jakhura (CEO, Central Depository Co), Aizaz Sarfraz (MD, Pak-Iran Investment Co) and Ruhail Muhammad (CFO Engro Corp). Shareholder representatives on the new Board are Imtiaz Haider (MD, Islamabad Stock Exchange), Majeed Adam (Director, Karachi Stock Exchange), Osman Asghar Ali (Director, Lahore Stock Exchange), and Anees-ur-Rehman, Irtiza Kazmi and Rehmat Hasnie (all from National Bank of Pakistan) In addition, Samir Ahmed, MD NCEL, is also on the Board.

NCEL is Pakistan's first and only commodities and futures exchange. It is also Pakistan's first and only demutualised exchange and has a 100% institutional shareholding. It is regulated by the Securities and Exchange Commission of Pakistan. NCEL is operational since May 2007 and is now Pakistan's second largest exchange, in terms of the value traded. NCEL currently lists futures contracts in Gold, Crude Oil, Silver, Palm Olein, Rice and 3m Kibor and plans to add several more commodity and financial futures contracts during 2010.