Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

RTS Starts Metals Futures Exchange

The RTS exchange said it would begin trading in platinum and palladium futures contracts Wednesday, adding to existing contracts on gold and silver.

The contracts are initially for three and six months and will be settled in cash based on the morning fixing on the London Platinum and Palladium Market, RTS said Tuesday in a statement.

The futures are targeted at major manufacturers and consumers interested in hedging risk related to the fluctuation of precious metal prices, it said.

"The new derivatives can also be combined with the gold and silver contracts into commodity investment funds to gain immediate exposure to a basket of precious metals," RTS said.

RTS started trading derivatives at its FORTS unit in 2001. Norilsk Nickel is the world's largest palladium producer, and Russia is the second-largest platinum miner after South Africa.