The Market Management Committee on Precious Metals held an extraordinary meeting on 13 February. The contents of the meeting were the following:
1) The Committee reviewed and shared opinions on market trends related to the recent increase in volatility following the hike in platinum prices.
2) The Committee concluded that, even though the TOCOM platinum price has been consistent with both the spot market and the NYMEX Market, there are concerns over supply after the power shortages in South Africa, which represents about 80% of the world production, soaring prices and the increase in volatility. Therefore, the Committee will continue to carefully monitor market trends.
3) Also, in case an event, such as large changes in market trends, was to occur in the future, the Market Management Committee will hold an extraordinary meeting and implement flexible measures.
4) In addition, in the current situation where the volatility is high, Broker Members are required to handle new trades from customers in an appropriate manner, by providing sufficient explanation on the risks etc. related to the said situation.