A Brief History

Platinum and palladium have a very recent history, unlike gold and silver, which have been known since the earliest civilisations. Platinum was only categorised as a precious metal in 1751 and palladium was isolated as a separate metal less than 200 years ago. In this relatively short period and despite only limited availability of the metals, they have made major contributions to modern scientific progress.

London has always been an important centre for the metals. Trading was established in the 20th century, usually alongside the longer established bullion metals.

In 1973 the London Platinum Quotation was introduced. It was the forerunner of the fixings; a twice-daily indication of the market price for spot platinum, reported by some of the principal companies dealing in the metal.

In 1979 the leading London and Zurich dealers reached an agreement to standardise the specifications and provenance of metal which they would accept as good delivery.

In 1987 the informal trading which had taken place for many years on a principal to principal basis was formalised via a Deed of Establishment into the London Platinum and Palladium Market.

In 1989 the London Platinum and Palladium Quotations were expanded and upgraded to full Fixings.

On 1 December 2014, the London Platinum and Palladium Fixing Company (‘LPPFCL’) ceased to administrate the London Platinum and Palladium Fixing Processes. The administration, by the London Metal Exchange (LME) of new benchmarks – the LBMA Platinum Price and the LBMA Palladium Price – was launched, with the agreement of the London Bullion Market Association.

The Market has four categories; Full, Associate, Affiliated Exchange and Affiliate :

Full membership of the Market is open to those companies currently engaged in trading and dealing in platinum and palladium as above and are recognised by the Management Committee as offering additional services to the market, including market-making, clearing services, refining or manufacturing.

Associate membership is open to companies which are recognised by the Management Committee as being currently engaged in trading and dealing in platinum and palladium and have an appropriate level of net assets and experience.

Affiliation is open to those companies which fail to meet the normal requirements of Full or Associate membership as above but are recognised by the LPPM as being involved with or offering support to the global platinum and palladium markets.

LPPM Affiliated Exchange membership offers access to the LPPM Good Delivery List and the right to use it as a delivery standard for their Exchange.  Any Exchange involved in Platinum and Palladium Group Metals may apply to the Management Committee for LPPM Affiliated Exchange membership through the normal process and their application would need the support of two Full Members.

The Market is managed by a Chairman and Management Committee, elected annually by members. Leading organisations dealing in platinum and palladium in major centres worldwide are represented on the London Market.

LPPM Website Disclaimer

LPPM does not guarantee that the Fixing Prices, Fixing Data or other materials displayed or otherwise available on this website are accurate, complete or up to date. LPPM obtains all the information displayed or available on this website from a third party, The London Platinum and Palladium Fixing Company Limited. All warranties and representations (other than fraudulent misrepresentation) are excluded to the maximum extent permitted by law in particular no express or implied warranty is given as to the figure at which the Fixing Prices stand at any particular time on any particular day or otherwise. If you rely on the information available on this website you do so at your own risk and LPPM shall have no liability for any losses suffered by you as a result of relying this information.

We would like to place cookies on your computer to help make this website better. We use a Google Analytics script which sets cookies and records anonymously your interaction with this site so we can beter understand how the site is used. More details can be found in our privacy policy.

Please view our Opt Out page to set your cookie preferences here or check this box to accept our cookies, you can opt out at any time

Click here to agree to terms and view site   >>>