20 Dec 2022 12:16

Moscow Exchange to start trading platinum, palladium in conjunction with Nornickel in 2023

*MOSCOW. Dec 20 (Interfax) - Moscow Exchange intends to start trading platinum and palladium in 2023.

"We plan to launch trading in platinum and palladium in conjunction with Norilsk Nickel in 2023," Kirill Pestov, managing director of the exchange's Business Development Department, told reporters.

The exchange has traded gold and silver since 2013. Precious metals turnover almost halved year-on-year to 103.5 billion rubles in January-November 2022.

Pestov said there were some 100 precious metals market participants, among them banks, management companies and gold miners.

Palladium is not publicly traded in Russia. Nornickel this year launched trading in digital financial assets for precious metals, the first of which was palladium, on the Russian asset tokenization platform Atomyze, in which Vladimir Potanin's Interros is an investor and where the metal is traded as a new type of financial instrument that allows both purchasing and investments. The investor will be entitled to a cash claim equivalent to the market value of the palladium. Such tokens backed by Norilsk Nickel metals have been issued for industrial clients and investors on several European exchanges since 2020.