50 troy ounces

The Seller shall deliver one Contract Unit of platinum, weighed to the nearest thousandth of a troy ounce, or the equivalent weight in grams, of homogeneous cast plate and/or ingot, with a weight tolerance of 7% either higher or lower. Each Contract Unit may consist of more than one piece of plate and/or ingot, with no individual piece weighing less than 10 troy ounces, or the equivalent weight in grams.

Platinum delivered under this contract shall be a minimum of 99.95% pure.

(A) Platinum may be delivered in packaged or unpackaged form.

(B) If Platinum is delivered in packaged form, the Platinum shall be in a package sealed by an Approved Assayer or Approved Producer so that the package may not be opened without destruction of the seal. Each package shall contain exactly one Contract Unit of Platinum and must bear:

(1) the lot or identification number(s) of each ingot and/or plate contained therein;

(2) the actual weight of the platinum therein;

(3) the grade of the pieces therein;

(4) the name or logo of the Approved Assayer or mark of the Approved Brand; and

(5) the chemical symbol for Platinum, Pt and/or the word “Platinum”.

(C) If Platinum is delivered in unpackaged form, each piece of Platinum comprising the Contract Unit shall be incised with:

(1) the lot or identification number of such ingot and/or plate contained therein;

(2) its actual weight (provided that if the piece was previously sampled, the weight on the Assay

Certificate shall govern);

(3) the grade of such piece;

(4) the name or logo of the Approved Assayer or mark of the Approved Brand; and

(5) the chemical symbol for Platinum, Pt and/or the word “Platinum”.

During each calendar month (the "current calendar month"), the Exchange will make available for trading contracts that provide for delivery of Platinum in the following months: 1) the current calendar month; 2) the first calendar month following the current calendar month; 3) the second calendar month following the current calendar month; and 4) each January, April, July and October during the period beginning with the first calendar month following the current calendar month through the 15th calendar month following the current calendar month.

Each Warrant shall contain the information set forth in the Assay Certificate, incised on the bar, or clearly identified on the package; provided, however, that weight shall be expressed in troy ounces. If the weight incised on the bar or set forth on the Assay Certificate is in grams, it shall be converted to troy ounces by dividing the weight in grams by 31.1035 and rounding to the nearest thousandth of a troy ounce. The Warrant shall represent that the Contract Unit:

(A) is an Approved Brand, meeting the grade and quality specifications of Rule 105.03, received directly from its Approved Producer by means of one or more Approved Carriers and/or, with respect to Platinum from the Approved Producer, by means of such Approved Producer’s own transport, or

(B) is an Approved Brand, meeting the grade and quality specifications of Rule 105.03, received directly from one or more storage vaults located in Zurich, Switzerland owned or controlled by either Credit Suisse Group or UBS AG, by means of one or more Approved Carriers. Such storage vaults are delivery locations for the London Platinum and Palladium Market. Upon request of the Licensed Depository, the Seller shall provide to the Licensed Depository a pro forma invoice and a bar list issued by either Credit Suisse Group or UBS AG (or the wholly-owned subsidiary that owns such vault), and, if so requested, the Licensed Depository is not required to issue a Warrant for any such Contract Unit until such documentation has been provided, or

(C) was received directly from an Approved Assayer or Approved Producer by means of one or more Approved Carriers and/or, with respect to Platinum from the Approved Producer, by means of such Approved Producer’s own transport, and was accompanied by an Assay Certificate(s) for each piece in the Contract Unit, or

(D) was received directly from an Approved Assayer or Approved Producer by means of one or more Approved Carriers and/or, with respect to Platinum from the Approved Producer, by means of such Approved Producer’s own transport, and was not accompanied by an Assay Certificate(s) for each piece in the Contract Unit but has been determined to be Eligible after having been inspected by an Approved Assayer or Approved Producer, or

(E) was received directly from another Licensed Depository by means of one or more Approved Carriers, provided, however, that the Platinum was previously Eligible, or

(F) was deposited at a Licensed Depository, and thereafter inspected by an Approved Assayer or Approved Producer and determined to be Eligible.

(A) Assay Certificates. Except for Platinum delivered pursuant to Rules 105.08(A), (B), (C) or (E), the Licensed Depository shall, upon receipt of the commodity, cause an inspection to be made by an Approved Assayer or an Approved Producer. The Approved Assayer or Approved Producer shall issue Assay Certificate(s) covering each piece in the Contract Unit in the form approved by the Exchange.

(B) Each Assay Certificate shall report the lot or bar number, weight, grade, the name of the Approved Assayer or Approved Producer, the symbol identifying the metal or the name of the metal and the date of inspection. On all Assay Certificates, weight shall be expressed in troy ounces.

(C) (1) Every lot inspected must bear on the package the lot number, seal number, date of inspection, weight, grade, and the name of the Approved Assayer or Approved Producer who made the inspection. (Effective as to Platinum assayed prior to October 1, 1979.)

(2) Every lot inspected, if packaged, must bear on such package the lot or bar number; weight; grade; the name or logo of the Approved Assayer or Approved Producer and the symbol identifying the metal or the name of the metal. Every lot inspected, if unpackaged, must be incised with the lot or bar number, weight; grade; the name or logo of the Approved Assayer, and the symbol identifying the metal. (Effective as to Platinum assayed on and after October 1, 1979.)

(D) If a Contract Unit of Platinum is surrendered to the bearer of a Warrant, or if the Contract Unit is in a package and the seal is broken, the Assay Certificate(s) for such Contract Unit is no longer valid and such Contract Unit is no longer Eligible.

(E) The Seller shall bear the costs of inspection, delivery to the Licensed Depository, charges of the Licensed Depository, and all other expenses, if any, to determine that the Platinum is Eligible.

Physical

Delivery may take place on any business day beginning on the first business day of the delivery month or any subsequent business day of the delivery month, but not later than the last business day of the current delivery month.

Trading is conducted over 15 months beginning with the current month and the next two calendar months before moving into the quarterly cycle of January, April, July, and October.

Trading terminates on the third last business day of the delivery month.