--- title: Platinum Futures (PL) Contract Specifications description: PL product specs --- [Skip to content](https://help.metrotrade.com/kb/platinum-futures-pl-contract-specifications#main-content) English Show submenu for translations [![MetroTrade](https://help.metrotrade.com/hs-fs/hubfs/logo3-1.png?width=225&height=39&name=logo3-1.png)](https://metrotrade.com/) Open main navigation Close main navigation - English Show submenu for translations - [MetroTrade.com](https://www.metrotrade.com/) [MetroTrade.com](https://www.metrotrade.com/) How can we help you? - There are no suggestions because the search field is empty. 1. [KnowledgeBase](https://help.metrotrade.com/kb?hsLang=en) 2. [Products & Specs](https://help.metrotrade.com/kb/products-specs?hsLang=en) 3. [Contract Specs](https://help.metrotrade.com/kb/products-specs?hsLang=en#contract-specs) # Platinum Futures (PL) Contract Specifications #### What you're trading The NYMEX Platinum future (PL) gives you exposure to 50 troy ounces of platinum with physical delivery. Platinum sits at an unusual intersection of precious-metal investment demand and critical industrial demand — it's the primary catalyst in diesel vehicle exhaust systems, used extensively in chemical processing and glass manufacturing, and is increasingly relevant as a substitute for palladium in gasoline catalytic converters. Supply is concentrated geographically (South Africa produces roughly 70% of global platinum), which can make PL sensitive to South African power and labor conditions. #### Contract size 50 troy ounces of platinum.  #### Tick value Minimum price fluctuation is $0.10 per troy ounce, and each tick is worth $5.00 per contract. A $1.00 move in the per-ounce price equals $50, and a $10 move equals $500 per contract. #### Trading hours CME Globex: Sunday 5:00 p.m. CT through Friday 4:00 p.m. CT, with the 4:00–5:00 p.m. CT maintenance halt Monday through Thursday. Platinum is less liquid than gold or silver — expect wider bid-ask spreads, especially outside U.S. cash hours. #### Settlement type Physically delivered. Active contract months are January, April, July, and October, plus the current and next two calendar months. Trading terminates on the third-last business day of the delivery month. Most traders close or roll before last trading day. #### Margin snapshot PL margin reflects platinum's lower liquidity and concentrated supply risk. Moves can be sharp when South African supply news breaks or when auto-industry demand data shifts. | **Initial margin (overnight)** | ~$4,500–$6,500 per contract (approximate; varies with volatility) | | --- | --- | | **Maintenance margin** | ~$4,100–$5,900 per contract | | **Day-trade margin** | Broker-set; often a fraction of overnight margin | | **Notional value (reference)** | ~$47,500 at $950/oz | *Margins change with market volatility and vary by broker. The figures above are approximate and for reference only — always confirm current requirements with MetroTrade support or on the CME margin page before trading.* #### Related learning - CME official contract specifications: [Platinum Futures Contract Specs](https://www.cmegroup.com/markets/metals/precious/platinum.contractSpecs.html) - [Gold (GC)](https://www.cmegroup.com/markets/metals/precious/gold.contractSpecs.html) - [CME initial margin requirements (all products](https://www.cmegroup.com/clearing/margins/) - [MetroTrade intraday margin requirements ](https://www.metrotrade.com/margins/) - [Account Information](https://help.metrotrade.com/kb/account-information?hsLang=en#main-content) - [Account Eligibility](https://help.metrotrade.com/kb/account-information?hsLang=en#account-eligibility) - [Account Management / Profile](https://help.metrotrade.com/kb/account-information?hsLang=en#account-management-profile) - [Account Statements & Reporting](https://help.metrotrade.com/kb/account-information?hsLang=en#account-statements-reporting) - [Funding & Withdrawals](https://help.metrotrade.com/kb/funding-withdrawals?hsLang=en) - [Pricing & Fees](https://help.metrotrade.com/kb/pricing-fees?hsLang=en) - [MetroTrader Platform](https://help.metrotrade.com/kb/metrotrader-platform?hsLang=en#main-content) - [MetroTrader Web](https://help.metrotrade.com/kb/metrotrader-platform?hsLang=en#metrotrader-web) - [MetroTrader App](https://help.metrotrade.com/kb/metrotrader-platform?hsLang=en#metrotrader-app) - [Troubleshooting](https://help.metrotrade.com/kb/metrotrader-platform?hsLang=en#troubleshooting) - [Margins & Trading Info](https://help.metrotrade.com/kb/margins-trading-info?hsLang=en#main-content) - [Margin & Risk](https://help.metrotrade.com/kb/margins-trading-info?hsLang=en#margin-risk) - [Trading Hours & Market Schedule](https://help.metrotrade.com/kb/margins-trading-info?hsLang=en#trading-hours-market-schedule) - [About MetroTrade](https://help.metrotrade.com/kb/about-metrotrade?hsLang=en) - [Products & Specs](https://help.metrotrade.com/kb/products-specs?hsLang=en#main-content) - [Product Information](https://help.metrotrade.com/kb/products-specs?hsLang=en#product-information) - [Contract Specs](https://help.metrotrade.com/kb/products-specs?hsLang=en#contract-specs) [![MetroTrade](https://help.metrotrade.com/hs-fs/hubfs/mt-fb-profile.png?width=50&height=50&name=mt-fb-profile.png "MetroTrade")](https://metrotrade.com) Chicago, IL USA [mailto:support@metrotrade.com](mailto:support@metrotrade.com) Copyright © 2026, MetroTrade