The London Platinum and Palladium Market (LPPM) is an over the counter commodities exchange with locations in London and Zurich. The exchange is a key intermediary in the trading of platinum and palladium, and also plays a decisive role in the setting of platinum and palladium good delivery standards.
Trading is carried out by exchange members. Market makers include UBS, Goldman Sachs International, HSBC Bank USA NA, ICBC Standard Bank, JP Morgan Chase Bank, Standard Chartered Bank, The Toronto-Dominion Bank and the Bank of Nova Scotia ScotiaMocatta. Other members include major precious metal refiners Valcambi, Produits Artistiques Métaux Précieux (PAMP), Metalor and Heraeus Metals Germany, and major platinum and palladium derivative manufacturers Johnson Matthey and BASF Metals Limited.
Fixings conducted twice a day play a key role in determining platinum and palladium prices.
The LPPM actively monitors platinum and palladium producers and limits trading to metals from producers which meet its production standards.
Transactions carried out on the LPPM are settled on a T+2 settlement cycle.