Platinum LME DataThe London Metal Exchange (LME) carries out the administration of the LBMA Platinum Price and LBMA Palladium Price. The pricing solution is underpinned by LMEbullion, an electronic auction system. The prices are calculated via auction for both platinum and palladium taking place twice daily, once in the morning starting at 09:45 and once in the afternoon starting at 14:00 (London time). As soon as the platinum price is discovered, the palladium auction commences. LMEbullion delivers fully automated price-display auctions. House traders, client traders and direct clients of participants are shown a potential execution price and asked to indicate their interest. If the interest of all participants is within the permitted tolerance, the price will be confirmed and consequential trade allocations are distributed back to the participants. If the imbalance is outside the permitted range, a new price will be calculated and displayed to the participants in order to commence the next round. The LME’s auctions are controlled so that they only progress if there are sufficient participants present (the Quorum). Once the price has been confirmed, and the trades allocated, the price is disseminated via LME.com and data distributors. All transactions in platinum and palladium are Loco London and are settled on a bilateral basis. The prices are published twice daily, shortly after both prices have been confirmed, and consist of morning and afternoon outright prices for platinum and palladium in USD, EUR, GBP; volumes offered and wanted; and a total imbalance. Prices are expressed per troy ounce. The live auction website provides real-time auction updates, prices being tried and total volumes. Monthly averages for LBMA Platinum Price and LBMA Palladium Price will be published on the last business day of each month.