In February 2026, ICE Benchmark Administration (IBA) – the new administrator of LBMA’s platinum and palladium price benchmarks – set out draft proposals in a consultation for the methodology and specification to be used for the benchmark setting auction process.
IBA has published its feedback statement, available to view below, and will proceed with the transition and implementation of the final platinum and palladium methodology and specification as proposed in the document, with an expected start date of Wednesday, 1 July 2026.
More information on the consultation that took place is available via the LBMA website.