Locked and loaded!!!!! SINGAPORE, Jan. 30, 2024 (GLOBE NEWSWIRE) -- StoneX Financial Pte Ltd (“StoneX”), a subsidiary of StoneX Group Inc. (NASDAQ: SNEX), and Abaxx Technologies Inc. (NEO:ABXX)(OTCQX:ABXXF) (“Abaxx”), today announced that StoneX has become the first approved clearing and trading member of Abaxx’s indirectly held, majority-owned Singapore-based exchange (“Abaxx Exchange”) and clearinghouse (“Abaxx Clearing”), introducing centrally cleared, physically-deliverable futures contracts, and licensed as a Recognised Market Operator (“RMO”) and Approved Clearing House (“ACH”) with the Monetary Authority of Singapore (“MAS”).
StoneX’s clients will have access to Abaxx Exchange’s suite of first-of-their-kind, physically- deliverable futures contracts, including liquefied natural gas (“LNG”), nickel sulphate, and carbon, from the first day of trading on Abaxx Exchange. This will enable StoneX clients to be the first market participants to benefit from Abaxx’s market price discovery and enhanced risk management tools for energy transition-related commodities.
Greg Kallinikos, CEO Asia Pacific, StoneX Group said; “We are excited to have become the first clearer of Abaxx following a very productive collaboration with Abaxx’s team, leading up to Abaxx obtaining its recent regulatory approvals in Singapore. We look forward to adding this unique capability to our existing, industry-leading market access and providing StoneX clients with a brand-new avenue to manage their inventory and market risk. In true StoneX fashion, we have listened to our clients and will continue to work closely with Abaxx and the industry to support the establishment of this promising new marketplace.”
With its global full-service FCM offering out of New York, London, and Singapore, and it’s 24-hour coverage and multiple electronic access solutions, StoneX is well placed to be the ideal choice for clients looking to trade on Abaxx Exchange. StoneX and Abaxx Exchange share a deep expertise in the commodity and energy markets, and this offering supports a shared commitment to continued innovation in these markets.
Nancy Seah, CEO, Abaxx Exchange said: “The Abaxx team is thrilled to have StoneX lead the way as the first clearing member of Abaxx Exchange and Abaxx Clearing. Our growing list of clean fuel, battery metal and emission market products are designed to help our clients tackle the difficult challenges of the transition to clean, sustainable energy. Having a world class firm like StoneX as our first clearing member reaffirms the Abaxx mission of bringing smarter markets to our collective customers.”