Moscow Exchange to Launch Platinum and Palladium Trading in Rubles from October 21

The Moscow Exchange will begin trading in platinum (PLT/RUB) and palladium (PLD/RUB) with payment in rubles starting October 21, 2024. These new trading instruments will be available to both professional market participants and private investors, according to a statement released by the exchange.

These instruments were initially added to the system in a state of technical readiness on August 5, 2024, and will now be fully operational. Trades will be conducted on the precious metals market, with settlement options available for "today" (TOD) and "tomorrow" (TOM), along with swap transactions. Trading will be held from 10:00 to 19:00 Moscow time.

Precious metals transactions will take place through the Moscow Exchange's currency market platform, and metals will be delivered in impersonal form to the metal accounts of clearing participants. Settlements will be conducted in Russian rubles.

Vladimir Krekoten, Managing Director of the Moscow Exchange, emphasized Russia's important role in the global precious metals market. He highlighted that demand for platinum and palladium comes from a variety of sectors, including automotive, jewelry, chemical, medical, and electrical industries. Krekoten added that the new instruments would provide investors with additional opportunities for portfolio diversification and contribute to the development of new financial products over time.

Platinum is used not only in jewelry and coin production but also in the manufacture of autocatalysts for diesel cars, as well as in the chemical, glass, electrical, fuel, and medical industries. Palladium is mainly used in the automotive industry for the production of catalysts in the exhaust systems of gasoline-powered vehicles.

The Moscow Exchange already offers similar instruments for gold (GLD/RUB), which is linked to gold prices and the ruble's exchange rate. Silver is also available for trading under the SLV/RUB pair.