Intercontinental Exchange, Inc. (NYSE:ICE) today announced that ICE Benchmark Administration Limited (IBA) now operates the London Bullion Market Association (LBMA) Platinum and Palladium Prices and the daily auctions which set these benchmark prices, adding to its role as the administrator of the LBMA Gold and Silver Prices and auctions.

In January 2026, the LBMA announced its intention to appoint IBA as administrator of the LBMA Platinum and Palladium Prices and auctions. The daily auctions began July 1, 2026, taking place twice daily at 9:45 a.m. and 2 p.m. London time. The platinum auction runs first, with the respective palladium auction commencing after the platinum price is published.

“Backed by ICE technology, IBA has demonstrated over more than a decade that it can deliver the governance and market expertise that global benchmark users depend on, with the auctions providing the foundational infrastructure upon which global precious metals price formation occurs,” said Clive de Ruig, President of ICE Benchmark Administration.

“The LBMA Platinum and Palladium Prices play an important role in the global precious metals market, and we are delighted to welcome IBA as administrator of all four LBMA precious metals benchmarks, after successfully administering the LBMA Gold and Silver Prices for many years,” said Ruth Crowell, LBMA CEO. “We have every confidence that the transition will support the continued efficient operation of these benchmark prices and look forward to working closely with IBA as it builds on the strong foundations already in place.”

IBA has administered the London Gold and Silver Prices and the related daily auctions on behalf of the LBMA since 2015 and 2017, respectively.