CFTC Seeks Public Comment on PGM ETF Regulation

"Should platinum and palladium ETFs be treated like those of gold and silver?"

The rules governing precious metals exchange traded funds (ETFs) in the U.S. could soon be overhauled, it has been confirmed.

Futures regulator, the Commodity Futures Trading Commission (CFTC), revealed that it will be receiving advice through this month about how the products are governed.

The CFTC claimed that it is considering whether options and futures of platinum and palladium ETFs should be treated like their gold and silver counterparts.

Discussing the move in a Federal Register note, the CFTC explained that PGM products could be more vulnerable to market tightness and price fluctuations.

The decision to canvas views came after the body decided that trading commodity-based ETFs is similar to the options and futures traded on the commodity futures markets.

One section of the statement highlighted "the potential that futures contracts based on the commodities underlying the ETFs could be affected by withdrawal of the deliverable supply for futures contracts."

London-based firm ETF Securities launched the first-ever platinum and palladium ETFs in the U.S. in January.

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Source: Streetwise Reports (07/13/2020)

Streetwise Reports is offering 100 investors—at no charge—the opportunity to meet via Zoom with executives of precious metals companies as they discuss recent developments at their companies and upcoming catalysts.

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