BUCE and PMEX
BUCE and PMEX sign a Memorandum of Understanding
On May 11, BUCE Chairman Arkady Salikov and Managing Director of Pakistan Mercantile Exchange (PMEX) Ejaz Ali Shah signed a Memorandum of Understanding (MOU). This event became the finale of the official visit of PMEX delegation to Belarus.
According to the MOU, the sides pledge to develop cooperation in information sharing, personnel training, promotion, as well as joint activities designed to strengthen ties between Belarusian and Pakistani business communities. There are also plans to study the feasibility of cross listing some commodities traded at BUCE and PMEX as well as possible use of BUCE’s software solutions as a means to speed up the implementation of the project to launch a regional electronic spot trading platform in Pakistan.
During the talks with PMEX Managing Director Ejaz Ali Shah, BUCE Chairman Arkady Salikov noted that the MOU signed by the two exchanges is going to mark the starting point of a long-term and mutually beneficial partnership.
“We are very excited to cooperate with PMEX and it’s important that both our exchanges have something to offer to each other. For example, you specialize in futures trading and your vast experience and expertise in hedging and clearing are extremely valuable to us as we are developing a commodity futures and options market in Belarus. On the other hand, many countries across the globe are now switching their focus to the spot market since it is the one that provides for the needs of the real economy. Ensuring free flow of commodities domestically and abroad is one of BUCE’s priority objectives and we have indeed made some headway in this area. I think the key to success lies not so much in high technologies, although they are essential, but rather in support rendered by market participants and the government. It would otherwise be impossible to move forward and evolve”, Arkady Salikov stressed.