ICE Benchmark Administration (IBA), a subsidiary of Intercontinental Exchange (NYSE: ICE), has begun administering the London Bullion Market Association (LBMA) Platinum and Palladium Prices and their daily auctions, according to a press release.

The daily auctions started July 1, 2026, running twice daily at 9:45 a.m. and 2 p.m. London time. The platinum auction runs first, followed by the palladium auction after the platinum price is published.

The LBMA announced its intention to appoint IBA as administrator of the platinum and palladium benchmarks in January 2026. IBA has administered the LBMA Gold and Silver Prices since 2015 and 2017, respectively, and now holds the administrator role across all four LBMA precious metals benchmarks.

Ruth Crowell, LBMA CEO, said: "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."

IBA is authorized and regulated by the U.K. Financial Conduct Authority and is recognized by the European Securities and Markets Authority as an administrator of significant benchmarks located in a third country under the EU Benchmarks Regulation.