The world's largest internet broker ICAP is to commence trading of platinum and palladium through its Electronic Brokering Services (EBS) system.

Both metals will be traded as spot unallocated 99.95 per cent purity and will carry a minimum tradable amount of 500 oz.

Palladium will be listed as XPD/USD, meanwhile platinum will be as XPT/USD.

The move comes in the wake of increasing market demand that has seen the 85 per cent growth in trading in precious metals on EBS continue unabated this year.

It is also thought that a new facet of EBS which facilitates precious metal trades and affords clients greater liquidity has contributed to the raft of companies worldwide opting to use ICAP's platform.

Darryl Hooker, Precious Metals Manager, EBS, said: "We've seen a net increase in the number of counterparties e-trading precious metals on EBS and are responding to their needs to access the same liquidity and pricing in both platinum and palladium.

"Precious metals traders universally regard price and liquidity as being of paramount importance and we offer single screen access to global counterparties and exceptional liquidity, so they can watch and trade the major global currencies on the same screen."

Ÿ Adfero Ltd