Abaxx Celebrates Milestone in Carbon Futures
Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF), known for its innovative approach to financial software and market infrastructure, has reached a significant milestone with the successful first delivery of a carbon futures contract at Abaxx Exchange. This achievement illustrates how Abaxx is pioneering advancements in the environmental market sector.
Details of the Carbon Futures Delivery
The delivery involved an impressive completion of 50 lots of May 2025 CORSIA Phase 1 Carbon Offset Unit Futures, priced at USD $24.25 per tonne of carbon dioxide equivalent. This successful transaction not only confirms Abaxx Exchange’s efficient clearing, delivery, and settlement processes but also demonstrates the operational capability of their end-to-end infrastructure designed for managing environmental assets through a regulated futures market.
Key Players and Partners
This groundbreaking transaction was facilitated between Mercuria Energy Trading SA (METSA) and a counterparty based in the U.S. Additionally, the key roles of Eagle Commodities, a division of Marex, in facilitating the trade, along with the vital clearing services provided by KGI Securities and Marex, underscore the collaborative effort required in achieving such a success.
Significance of the CORSIA Phase 1 Futures Contract
Alasdair Were, Head of Environmental Markets at Abaxx Exchange, highlighted the importance of this delivery, stating, “This marks the first delivery through Abaxx’s carbon futures infrastructure, a contract structure designed to support price formation, risk management, and forward planning.” Such infrastructures are crucial for making environmental markets more attractive and accessible for investment and managing climate-related risks.
Comments from Industry Leaders
Ken Ong, CEO of KGI Securities, also expressed pride in their involvement, saying, “This transaction underscores the strength of Abaxx Exchange’s infrastructure and our commitment to sustainable finance, empowering clients in the evolving landscape of environmental assets.” This reflects a broader dedication within the industry to foster innovative solutions that support sustainability.
Expanding Product Offerings
The CORSIA Phase 1 Carbon Offset Unit Futures contract was part of a growing suite of products launched by Abaxx Exchange. Other offerings span various sectors, including energy, environmental, battery materials, and precious metals markets, further establishing Abaxx's commitment to facilitating a diverse and comprehensive trading platform.
Active Trading Environment
Traders and market participants can engage with Abaxx’s futures contracts during active trading hours of 14 hours a day, Monday through Friday. This schedule is designed to accommodate a wide range of trading strategies and enhance market liquidity, allowing for more flexible participation in markets.
About Abaxx Technologies
Abaxx Technologies is innovating Smarter Markets through better technology and tools tailored for current market demands. Their aim includes driving solutions to major challenges society faces, specifically focusing on the energy transition. By streamlining communication, trade, and transactions through advanced financial technologies, Abaxx is set to make significant impacts in the marketplace.
Transforming Commodity Trading
One notable offering from Abaxx is Abaxx Spot, which aims to modernize physical gold trading. This initiative provides a digitally integrated, physically backed gold pool in Singapore. Integrating spot and futures markets in a single location allows for secure transactions and efficient transfers, substantially optimizing trading practices in the gold market.
Contact Information
If you require further information, please reach out to Steve Fray, CFO at Abaxx Technologies. He can be contacted at +1 647-490-1590. Additionally, for any media or investor inquiries, you may connect with the Investor Relations Team at the same phone number or via email at ir@abaxx.tech.
Frequently Asked Questions
What recent milestone did Abaxx Technologies achieve?
Abaxx Technologies successfully completed its first delivery under a carbon futures contract on Abaxx Exchange.
What was the price for the carbon offset unit futures?
The carbon offset unit futures were priced at USD $24.25 per tonne of carbon dioxide equivalent.
Who were the key players involved in the transaction?
The transaction was conducted between Mercuria Energy Trading SA and a U.S. based counterparty, with support from Eagle Commodities and various clearing services.
What is the purpose of CORSIA Phase 1?
CORSIA Phase 1 aims to establish a structured approach for carbon offset trading, fostering price formation and enhanced risk management.
How can interested parties reach Abaxx Technologies?
Interested parties can contact Steve Fray, CFO, at +1 647-490-1590 or via email at ir@abaxx.tech.
