LBMA NewsMarch 18, 2026IBA Feedback Statement: LBMA Platinum Price and LBMA Palladium PriceFurther to their consultation on the LBMA platinum and palladium price methodology and auction specifications

The ICE Benchmark Administration (IBA) has published its feedback statement following consultation on the methodology and auction specifications for the LBMA Platinum and Palladium price benchmarks. The finalized methodology is set to be implemented starting 1 July 2026, marking a significant step in the transition to IBA's administration of these key precious metals price benchmarks. This update follows the initial draft proposals released in February 2026, aiming to improve transparency and robustness in benchmark setting for platinum and palladium. The consultation involved industry stakeholders and is part of the LBMA's ongoing efforts to enhance price discovery and align with global best practices seen in other precious metals benchmarks like gold. Market participants should monitor this transition closely as the new auction-based methodology may impact price volatility and trading behaviors around the benchmark fixing times starting in H2 2026. Key risks include potential initial liquidity effects or pricing adjustments as markets adapt to the new process. Broader implications include strengthening the integrity and credibility of the LBMA's platinum and palladium price benchmarks, which underpin trading, risk management, and physical market activities globally.