21 December 2020
21 December 2020
By the beginning of 2021, PMEX will have completely switched to MetaTrader 5 from its own previously used core. Earlier, the exchange has been using the platform as a front-end trading solution. Now, the entire back office natively
operates on the new platform. The MetaTrader 5-based operation of the whole PMEX exchange is implemented through the platform's built-in Electronic Communication Network (ECN) functionality.
Now, all exchange operations are performed without any third-party solutions, directly via the MetaTrader 5 platform, which is used by all exchange participants, including traders, brokers and market makers. Hamad Shah, Head of the MetaQuotes' Pakistani office, says that 100% of PMEX's trading volume is now executed via MetaTrader 5 terminals, compared to 50% before the switch.
The integration helped PMEX in achieving three major goals: replacing outdated trading facilities with an advanced and reliable system, completely automating all exchange processes from A to Z, and reducing operational costs while increasing productivity.
MetaTrader 5 is an all-in-one solution for PMEX:
The exchange core role has been originally provided by the MetaTrader 5 platform architecture at the early design stage. The platform uses high-performance proprietary MetaQuotes databases which store real-time refreshing data in RAM. Utilization of modern 64-bit processor computing power along with a distributed cluster architecture enables instant processing of millions of exchange transactions. One of the platform's crucial objectives is to ensure the smallest possible response time and equal conditions for all traders.
Further PMEX plans include:
Pakistan Mercantile Exchange Limited (PMEX) is the country's first and only demutualized commodity futures exchange, licensed and regulated by the Securities and Exchange Commission of Pakistan (SECP). Based on sophisticated multi-dimensional infrastructure and state-of-the-art technology, PMEX offers a complete suite of services, including trading, clearing, settlement, custody and back office, all managed via MetaTrader 5.