ICE Expands Metals Benchmarks with LBMA Platinum and Palladium Price Auctions
ICE•ICE Benchmark Administration has assumed responsibility for setting daily LBMA platinum and palladium benchmark prices and managing associated auctions, expanding its metals price administration services. The move adds two new precious metals benchmarks to IBA’s portfolio, potentially boosting market data revenue and deepening ICE’s presence in precious metals markets.
1. Transition to Platinum and Palladium Administration
IBA will assume administration of daily LBMA platinum and palladium price assessments and conduct the related auctions, marking its entry into these two additional metals price services starting July 2026.
2. Implications for Market Data Revenue
Adding platinum and palladium benchmarks enhances IBA’s price offering beyond gold and silver, driving potential incremental fee revenue from daily assessments and auction participation, which could contribute tens of millions in annual data and transaction fees.
3. Strategic Positioning in Precious Metals
By securing administration of LBMA’s platinum and palladium prices, ICE strengthens its role in global precious metals benchmarking, bolstering its competitive position against other market data providers and deepening client engagement across metals trading platforms.
