Used in everything from dentistry to groundwater treatment, palladium is by far the most versatile metal investment. Only a little while ago, palladium was not nearly as popular as it is today, but due to the incredible economic growth in developing countries—especially China—this jack-of-all-trades metal is steadily growing in importance in the futures markets.
|Palladium Contract Specifications|
|Venue||CME Globex, CME ClearPort, Open Outcry (New York)|
|Trading Hours||CME Globex: Sun–Fri 5:00pm–4:15pm CT with a 45-minute break each day beginning at 4:15pm|
|CME ClearPort: Sun–Fri 5:00pm–4:15pm CT with a 45-minute break each day beginning at 4:15pm|
|Open Outcry: Mon–Fri 7:30am-12:00pm CT|
|Contract Size||100 troy ounces|
|Price Quotation||U.S. Dollars and Cents per troy ounce|
|Minimum Fluctuation||$0.05 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 March, June, September, and December.|
|Settlement Procedure||Daily Palladium Futures Settlement Procedure
Final Palladium Futures Settlement Procedure
|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||Palladium delivered under this contract shall be a minimum of 99.95% pure|
|Exchange Rules||These contracts are listed with, and subject to, the rules and regulations of NYMEX.|
Palladium futures can be used as a hedging tool for both producers and consumers of palladium alike. Palladium futures also offer advantages like central clearing and transparency of price among traders.
The top leader in palladium production is Russia, followed by South Africa, and North America. Palladium is part of the same metals group as platinum and they are considered to be alike. However, palladium is more common than platinum because it can also be produced via a derivative of nickel mining. Palladium is mainly used for production in the automobile industry, specifically for automotive catalysts. Palladium is also used in electronics.
Last updated May 2013
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