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Platinum Metals Futures and Options

Platinum futures are hedging tools for commercial producers and users of platinum, and serve as a means of global price discovery. In addition, they provide: Extensive trading opportunities due to the price volatility of the metal

The benefits of central clearing, including guaranteed counter party credit and segregation of customer funds
Price transparency, giving all market participants equal access while maintaining anonymity in all bids and offers

Things to know about the contracts:

  • Physically delivered
  • Traded electronically, virtually around the clock, on CME Globex
  • Can be traded off-exchange for clearing only through CME ClearPort

About platinum

Because of platinum’s importance as an industrial material, its relatively low production and concentration among a few suppliers, prices can be volatile. For this reason, platinum is often considered attractive to investors.

Platinum is the principal metal of the six-metal group that bears its name; the other platinum group metals are palladium, rhodium, ruthenium, osmium, and iridium. All possess unique chemical and physical qualities that make them vital industrial materials.

Jewelry creates the largest demand for platinum, followed by automotive, chemical and petroleum refining uses.

Platinum is used in the computer industry and in other high-tech electronic applications since it is an excellent conductor of electricity, does not corrode, and has a low reactivity with other metals.

Platinum is among the world's scarcest metals. Supplies of platinum are concentrated in South Africa, with significantly smaller supplies in Russia and North America.
Product Symbol PL
Venue CME Globex, CME ClearPort, Open Outcry (New York)
Hours
(All Times are New York Time/ET)

CME Globex: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
CME ClearPort: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
Open Outcry: Monday – Friday 8:20 a.m. – 1:05 p.m. (7:20 a.m. – 12:05 p.m. CT)
Contract Size 50 troy ounces
Price Quotation U.S. Dollars and Cents per troy ounce
Minimum Fluctuation $0.10 per troy ounce
Termination of Trading Trading terminates on the third last business day of the delivery month.
Listed Contracts Trading is conducted over 15 months beginning with the current month and the next two calendar months before moving into the quarterly cycle of January, April, July, and October.
Settlement Type Physical

Settlement Procedure Daily Platinum Futures Settlement Procedure (PDF)

Final Platinum Futures Settlement Procedure (PDF)

Delivery Period Delivery may take place on any business day beginning on the first business day of the delivery month or any subsequent business day of the delivery month, but not later than the last business day of the current delivery month.

Grade and Quality Specifications Platinum delivered under this contract shall be a minimum of 99.95% pure.

Position Limits NYMEX Position Limits

Rulebook Chapter 105

Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.

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