KARACHI: Pakistan Mercantile Exchange published the first of its kind Urdu dictionary on futures trading in Pakistan, according to a statement on Monday.
Raeda Latif, head of marketing at PMEX, explained the concept behind the project. “We feel that the commodity markets are still in the development stage and a large population is ignorant of the concept of the futures trading. For this purpose, the project of a comprehensive guide on trading in futures was undertaken.”
The dictionary is authored by Shayan Ali, financial technical analyst, financial terminologist, writer and founder of Bullion Research Center, it said. His Urdu report for gold technical and fundamental analysis is well appreciated among the local and PMEX traders.
Expressing his views on the dictionary, Ali said: “I have explained over 100 financial terminologies from the basic to the most advance level for the benefit of not only the new traders but also experienced analysts.”
PMEX is the only legal platform in Pakistan for commodity futures trading that recently boasted a record trading volume of Rs385.5 billion in the first quarter of fiscal year 2012-13, which was up by 40.7 percent as compared to the preceding quarter. With the rise in the commodity trading on the exchange, more and more investors are viewing commodity futures as an alternative source of investment. However, derivatives are regarded as highly complex financial products and, therefore, investors are quite wary of the trading in them, according to the statement.
The need for building trust and imparting knowledge has increased manifold for the purpose of developing a commodity market. Publishing the Urdu dictionary is a significant step in the direction of establishing a strong relationship between the investors and derivatives instruments.
The dictionary is unique in the sense that it is specifically targeted towards investors and traders who are mostly conversant in the local language, and find it difficult to understand the complex terminology of futures trading in English, it said.
The dictionary will serve to be a comprehensive guide for those wishing to understand the technical aspects of derivatives trading in a simple structured format in Urdu, it added.
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