TORONTO, June 28, 2024 (GLOBE NEWSWIRE) — Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company, indirect majority shareholder of Abaxx Singapore Pte Ltd. (“Abaxx Singapore”), the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “Abaxx Exchange” and “Abaxx Clearing”), and producer of the SmarterMarkets™ Podcast, today announced the launch of Abaxx Commodity Futures Exchange and Clearinghouse, with trading commencing in its physically-deliverable liquified natural gas (LNG) and carbon futures contracts.
Five new centrally-cleared, physically-deliverable commodity futures contracts in LNG and Carbon are now available for trading on Abaxx Commodity Futures Exchange and Clearinghouse in Singapore. Full clearing and execution are currently accessible through our two clearing members StoneX and KGI Securities, while execution and broking services can be sourced from our execution brokers Marex, Eagle Commodities, Evolution Markets, Salamander Broking, SSY, TP ICAP and Venture Commodities Partners, along with introducing broker, Sweet Futures.1
Abaxx is introducing these markets to establish physically-deliverable benchmarks for the global LNG and voluntary carbon markets, and to be followed shortly by solutions for battery metals. These will provide the price discovery and risk management tools required to meet the commercial needs of market participants and essential to unlocking investment capital required for the transition to a low-carbon economy.
Partnering with leading technology providers including Exberry, Baymarkets and Eventus, Abaxx offers robust, scalable, secure trading and clearing solutions. In addition, Abaxx provides industry-leading tools and services for market participants, who are supported by our exchange and clearing Independent Software Vendors (ISVs), which include Fidelity Information Services Ltd. (FIS®), ION, Trading Technologies (TT), and CQG.
“Singapore is the most vital global commodities trading hub in Asia, and with the opening of Abaxx Exchange and Clearinghouse, we are excited to support this leadership in the futures and derivatives markets,” said Abaxx Exchange CEO, Nancy Seah. “Our team, comprised of industry veterans from Goldman Sachs, NYMEX, CME, and SGX, is committed to developing the next generation of commodities futures contracts benchmarks for the energy transition. We look forward to providing our clients with innovative risk management tools and better price discovery for smarter commodities markets.”
Josh Crumb, CEO of Abaxx, said: “Today’s first trades are the culmination of years of dedicated efforts by our team, working groups, and partners to build smarter markets. We’ve collaborated with industry leaders and technology partners to create innovative solutions that meet the evolving needs of the commodities marketplace. This marks the first step in developing new liquid benchmark futures contracts for the energy transition and beyond. We are committed to providing market participants with the tools and infrastructure necessary to navigate and capitalize on the monumental changes in global energy and resource supply chains.”
Abaxx’s initial suite of futures contracts for LNG and carbon are open for trading 14 hours a day, Monday through Friday. It is intended that additional products including nickel sulphate futures will be introduced soon. Visit abaxx.exchange/resources-directory for a full list of clearing members and execution brokers.
About Abaxx Technologies
Abaxx is building Smarter Markets — markets empowered by better financial technology and market infrastructure to address our biggest challenges, including the energy transition. In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is an indirect majority-owner of subsidiaries Abaxx Exchange and Abaxx Clearing, recognized by MAS as a “recognised market operator” (RMO) and “approved clearing house” (ACH), respectively.
Abaxx Exchange and Abaxx Clearing are a Singapore-based commodity futures exchange and clearinghouse, introducing centrally cleared, physically deliverable commodities futures and derivatives to provide better price discovery and risk management tools for the commodities critical to our transition to a lower-carbon economy.
For more information please visit abaxx.tech, abaxx.exchange and smartermarkets.media.
For more information about this press release, please contact:
Steve Fray, CFO
Tel: +1 647-490-1590
Media and investor inquiries:
Abaxx Technologies Inc.
Investor Relations Team
Tel: +1 246 271 0082
E-mail: ir@abaxx.tech
Cautionary…
Read More: Trading Commences in Physically-Settled LNG and Carbon Futures on Abaxx