Abaxx Technologies Launches Innovative Gold Futures Trading

Abaxx Technologies Launches Gold Singapore Futures

The world of financial markets is constantly evolving, and Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) is at the forefront of this transformation. Recently, they proudly announced the launch of their Gold Singapore Futures, marking a significant milestone for trading in physical gold in Asia.

What Makes Gold Singapore Futures Unique?

Positioned as the only physically deliverable, U.S. dollar-denominated gold futures contract in Asia, the Abaxx Gold Singapore Futures aim to provide a much-needed tool for traders and businesses. This product enhances price discovery, simplifies hedging, and offers accessibility tailored to modern trade flows.

The Gold Singapore Futures contract is specifically designed in a kilobar format, aligning with preferences within the regional physical bullion trade. By being deliverable into approved vaults in Singapore, it caters to refiners, industrial consumers, banks, and traders focused on kilobar transactions—a critical aspect of Asia’s trading landscape.

Record Demand and Active Participation

As gold prices surge, Abaxx Gold Singapore Futures are witnessing active trading. Within the first two trading sessions, eight market makers from locations such as Singapore, Hong Kong, London, and Thailand participated, ensuring a robust trading environment. This enthusiasm is expected to grow, with more firms set to come on board in the coming weeks.

Ken Ong, CEO of KGI Securities Singapore, expressed excitement about this new offering, emphasizing its role in meeting the demands for regional price transparency. He stated that it enables better solutions for their clients, especially in an evolving commodities market.

Support from Industry Leaders

The enthusiasm doesn’t stop there. Industry experts are also voicing support for Abaxx’s pioneering initiative. Golf Hirunyasiri, CEO of MTS Gold Group, highlighted the synergy created by participating in the delivery under Abaxx’s Gold Futures contract, indicating a strong industry backing that bodes well for the future of these contracts.

Commitment to Traders

With trading accessible 14 hours a day from Monday to Friday, the Abaxx Gold Singapore Futures provide crucial flexibility for market participants. For those looking for complete contract specifications or onboarding details, resources are available on their dedicated platforms, enhancing accessibility for new participants.

About Abaxx Technologies Inc.

Abaxx Technologies is dedicated to reshaping the financial landscape. Their mission revolves around developing Smarter Markets—markets that leverage advanced technology and tools to tackle some of society's major challenges, including the global energy transition.

Through innovative financial technologies, Abaxx facilitates secure communication, trade transactions, and fosters an environment for market-based solutions. They hold a majority stake in Abaxx Singapore Pte. Ltd., which owns both Abaxx Exchange and Abaxx Clearing.

Empowering the Commodities Market

Abaxx Exchange plays a pivotal role in addressing the needs of today’s commodity markets by providing the necessary infrastructure for a shift towards a low-carbon economy. Their focus includes centrally cleared, physically delivered futures contracts in LNG, carbon, battery materials, and precious metals.

Moreover, Abaxx Spot introduces a new era in physical gold trading, creating a co-located spot and futures market in Singapore. This innovative approach simplifies electronic transactions and enhances the process of physical delivery aligned with the futures contracts.

Contact Information

For inquiries or more information regarding the recent launch and contracts, please reach out to:

Steve Fray, CFO
Tel: +1 647-490-1590

Frequently Asked Questions

What is the Abaxx Gold Singapore Futures contract?

The Abaxx Gold Singapore Futures are U.S. dollar-denominated, physically deliverable gold futures designed to enhance price discovery and facilitate trading in Asia.

Who can trade the Abaxx Gold Singapore Futures?

The contract is available to refiners, banks, industrial consumers, and traders engaged in kilobar gold transactions in Asia.

What are the trading hours for this contract?

Traders can access the Abaxx Gold Singapore Futures for 14 hours every day from Monday to Friday, ensuring flexible trading opportunities.

How does Abaxx Technologies support the market?

Abaxx Technologies is committed to providing innovative solutions to improve the efficiency and transparency of financial markets, particularly in commodities trading.

How can I get more information about trading?

For further information, you can visit Abaxx’s official website or contact their investor relations team for specific inquiries related to the trading process.

About The Author

Hi there, As a writer and financial specialist, Henry Turner is passionate about guiding people through the complex world of finance. Having worked in finance for many years, I am an expert at simplifying difficult financial ideas into understandable, useful insights for my blog and articles. My goal is to arm you with the confidence and information you need to make wise financial choices.

Writing for a number of financial blogs has allowed me to interact with readers from novice investors looking for fresh ideas to seasoned investors starting their financial journeys. My mission is to enable everyone to understand and access finance, so enabling you to confidently and clearly reach your financial goals. I appreciate you traveling with me toward success and financial literacy.

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