Abaxx Exchange Receives Foreign Board of Trade Registration
Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF), a prominent player in financial software and market infrastructure, has recently been granted registration as a Foreign Board of Trade (FBOT) by the U.S. Commodity Futures Trading Commission (CFTC). This essential approval opens doors for U.S.-based futures commission merchants (FCMs), brokers, and trading firms to directly engage with Abaxx Exchange’s regulated markets, signifying a pivotal moment for the Company’s expansion.
Paving the Way for U.S. Participation
The new registration allows U.S. trading firms to participate in Abaxx’s suite of physically-deliverable futures contracts. This expands the Company’s reach, allowing direct access to some of the most innovative commodity markets. By bridging the gap between U.S. firms and other global market players, Abaxx is poised to enhance participation and liquidity across its trading platforms.
Unlocking New Opportunities in Commodity Trading
Abaxx Exchange provides an array of centrally-cleared commodity futures and derivatives that are essential for price discovery and risk management in today’s evolving commodity markets. These offerings are particularly crucial for industries pivoting toward lower-carbon pathways.
Unique Futures Contracts Offered by Abaxx
The Abaxx platform features unprecedented products, such as the only physically-backed LNG forward curves in the global marketplace and a unique U.S. dollar-denominated gold kilobar futures contract based in Singapore. Additionally, the exchange presents the first physically-deliverable lithium carbonate benchmarks outside of China and the first contracts financially settled based on wind capacity utilization in Germany. These products are designed to meet the specific needs of modern traders, helping them navigate the challenges of current market conditions.
Industry Expert Insights
Joe Raia, Chief Commercial Officer at Abaxx Exchange, expressed the significance of this new registration, stating, “FBOT registration opens the door for U.S. participation in our energy transition commodity benchmarks.” His statement highlights the potential for increased engagement in markets rooted in actual physical trade flows. This advancement not only fosters liquidity in Abaxx markets but also introduces innovative trading practices to a broadened U.S. audience.
Support from Industry Leaders
Tom Anderson, Senior Vice President at ADM Investor Services, noted the growing demand among clients for access to regulated venues reflecting the changing landscape of global commodities. Similarly, Randall Fenlon from BGC Group welcomed the opportunity for North American clients to trade in these newly accessible markets, emphasizing the collaboration across the commodities sector.
Expanding the Abaxx Product Suite
Abaxx Technologies is dedicated to building Smarter Markets. This involves developing and implementing advanced market tools and benchmarks that can effectively address significant challenges, such as the ongoing energy transition. At the core of their offerings is a commitment to delivering market infrastructure capable of supporting a more electrified and sustainable economy.
Innovations in Physical Gold Trading
Another noteworthy initiative from Abaxx is the modernization of physical gold trading through Abaxx Spot. Serving as the first co-located spot and futures market for gold, it enables secure electronic transactions and efficient over-the-counter transfers. This innovative platform is constructed to facilitate physical delivery for trading in Abaxx’s gold futures contracts, providing an integrated approach to gold market transactions.
Commitment to Robust Market Infrastructure
Abaxx is also addressing gaps in post-trade infrastructure by establishing a unified custodial foundation for environmental markets and digital title assets. This commitment underlines the importance of improving reliability and reducing risk across multiple asset classes. The firm is incorporated in Barbados and regulated by the Financial Services Commission, further demonstrating its commitment to maintaining the highest operational standards.
Contacting Abaxx for Further Information
For media and investor inquiries, interested parties can reach out to Abaxx Technologies via:
Steve Fray, CFO
Tel: +1 647-490-1590
Investor Relations Team
Tel: +1 246 271 0082
E-mail: ir@abaxx.tech
Frequently Asked Questions
What recent achievement did Abaxx Exchange accomplish?
Abaxx Exchange received registration as a Foreign Board of Trade from the U.S. CFTC, allowing direct access for U.S. futures firms.
How will this registration impact U.S. firms?
This registration enables U.S. futures commission merchants and trading firms to access Abaxx’s regulated markets directly, enhancing their trading options.
What products does Abaxx offer?
Abaxx features various innovative futures contracts including LNG, gold kilobar futures, and lithium carbonate benchmarks, among others.
Who are some supporters of Abaxx's initiatives?
Industry leaders such as Tom Anderson and Randall Fenlon have shown support, emphasizing the benefits of increased market access for U.S. traders.
How can investors learn more about Abaxx?
Investors can get in touch with Abaxx's Investor Relations team or visit their official website for more information about their offerings and market access.
