SECP asked to allow KCE hedge trading

A meeting of cotton brokers advisory committee of Karachi Cotton Association (KCA) asked the Securities and Exchange Commission of Pakistan (SECP) to give approval to Karachi Cotton Exchange (KCE) for hedge trading.

The representatives of All Pakistan Textile Mills Association (APTMA) KCE, KCA and Pakistan Cotton Ginners Association (PCGA) said cotton trade was directly related to textile sector as its buying share in total cotton crop stands at 95 percent.

Nearly 320 registered members of KCA were of the view that KCA has complete delivery and trading system along with complete coordination with allied bodies like APTMA, KCE, KCA and PCGA.

From: Daily Times