In commodity trading terminology, Palladium refers to a soft, tarnish-resistant silvery metallic element that occurs naturally in a variety of ores such as platinum, gold and copper ores. Palladium is considered both a precious and an industrial metal, with a wide array of uses such as in the manufacture of catalytic converters for the automotive industry.
Palladium futures trade on the New York Mercantile Exchange and the CME Groupís Globex and ClearPort electronic trading platforms. Contracts sizes are for 100 troy ounces of Palladium and futures contracts are quoted in U.S. Dollars with a minimum fluctuation of $0.05 per troy ounce or $5.00 per contract. The symbol for Palladium futures is PA.