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.
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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The integration helped PMEX in achieving three major goals: replacing outdated trading facilities with an advanced and reliable system, completely automating all exchange processes from A to Z, and reducing operational costs while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.
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MetaTrader 5 is an all-in-one solution for PMEX:
– No more separate quoting solutions, separate matching systems, client trading applications, specialized add-ons for EOD processes, additional PnL calculation and risk management solutions implementing required margin check and stop-out procedures. The entire functionality is provided by MetaTrader 5.
– No more manual handling of complex Oracle databases for data management and reporting.
– From 200 virtual machines, down to a single All-In-One Platform.
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:
– Reaching out to more Pakistani investors to trade on the regulated exchange that offers MetaTrader 5 as its primary trading solution
– Extending working hours by considerably reducing end-of-day procedure time, as previously used trading facility required 3 hours to complete EOD backoffice activities. With MetaTrader 5, this time is reduced to 10 seconds
– Further integrating MetaQuotes’ Finteza analytics to increase business activity and to attract more market makers and brokers
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.
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