Nymex Receives Approval To Increase Price Limits On Platinum Futures

The New York Mercantile Exchange has received approval from the Commodity Futures Trading Commission to increase the price limits in the back months of its platinum futures contracts to $50 from $25 per ounce above or below the preceding day's settlement price.

If the market settles at the limit in any back month, limits will be expanded to $75 on the following day, and, if the market settles at that limit, prices will be expanded to $100 on the following day. Currently, if the market settles at the $25 limit, limits are expanded to $37.50 on the following day, and, if the market settles at that limit, prices are expanded to $50 on the following day.

There are no limits on the current month and any months up to and including the closest cycle month of January, April, July, or October.

The change takes effect with the start of trading on NYMEX ACCESS(SM) on Tuesday, September 5, for the September 6 trading session.