Membership New Membership


1. Universal Commodity Membership Rights

Universal Commodity members are entitled to trade, upon registration as a broker, in all commodity futures contracts registered at PMEX or to be registered in future, for proprietary or trading on behalf of their clients subject to General Regulations 2007.

Eligibility Criteria

Any corporate entity (except partnership firms) can apply for Universal Commodity membership rights, subject to meeting the following minimum requirements:

  1. I. He must be a graduate from a university or college acceptable to the PMEX Board or he must have experience of buying and selling or dealing in commodities or securities market for at least five years.
  2. II. He must be at least 21 years of age and of sound mind.
  3. III. He must be a citizen of and resident in Pakistan.
  4. IV.He must not be insolvent nor must he have compounded with his creditors.
  5. V. He must not have been convicted of any offence involving moral turpitude.
  6. VI. He must not be in violation of any requirement imposed by any Stock Exchange or other Commodity Exchange or Trade Body of which he has been or is a member.
  7. VII. He must have a National Tax Number.
  8. VIII. He must have a minimum net worth as may be determined by the PMEX Board and approved by the Commission but which shall not be less than Rs. 20 Million.

 

Chief Executive Officer of the corporate entity shall satisfy the requirements set forth (i) to (vii)    

Financial Requirements

Net Worth

The minimum Net Worth is Rs. 20 Million which must be maintained all times by the member/broker.

Net Capital Balance

The minimum Net Capital Balance is Rs. 2.5 Million which must be maintained all times exclusively for PMEX by the member/broker and kept completely segregated from the Net Capital Balance requirement of any other Exchange(s) of which the member holds membership (if any).


2. Specific Commodity Membership Rights

Specific Commodity members are entitled to trade, upon registration as a broker, only in the specific commodity futures contracts registered at PMEX either for his/their proprietary or on account of their clients subject to General Regulations 2007.

Eligibility Criteria

Any corporate entity (except partnership firms) can apply for Specific Commodity membership rights, subject to meeting the following minimum requirements:

  1. I. He must be a graduate from a university or college acceptable to the PMEX Board or he must have experience of buying and selling or dealing in commodities or securities market for at least five years.
  2. II. He must be at least 21 years of age and of sound mind.
  3. III. He must be a citizen of and resident in Pakistan.
  4. IV. He must not be insolvent nor must he have compounded with his creditors.
  5. V. He must not have been convicted of any offence involving moral turpitude.
  6. VI. He must not be in violation of any requirement imposed by any Stock Exchange or other Commodity Exchange or Trade Body of which he has been or is a member.
  7. VII.He must have a National Tax Number.
  8. VIII.He must have a minimum net worth as may be determined by the PMEX Board and approved by the Commission but which shall not be less than Rs. 10 Million.

 

Chief Excecutive Officer of the corporate entity shall satisfy the requirements set forth from (i) to (vii).   

Financial Requirements

Net Worth

The minimum Net Worth is Rs. 10 Million which must be maintained at all times by the member/broker.

Net Capital Balance

The minimum Net Capital Balance is Rs. 2.5 Million which must be maintained at all times exclusively for PMEX by the member/broker and kept completely segregated from the Net Capital Balance requirement of any other Exchange(s) of which the member holds membership (if any).