Abaxx Exchange and Clearing Joins Futures Industry Association

TORONTO, Jan. 29, 2024 (GLOBE NEWSWIRE) -- Abaxx Technologies Inc. (NEO:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company, producer of the SmarterMarkets Podcast, and indirect majority shareholder of Abaxx Singapore Pte Ltd. (“Abaxx Singapore”), the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “Abaxx Exchange” and “Abaxx Clearing”), announces that Abaxx Singapore Pte. Ltd has been approved for membership into the Futures Industry Association (FIA).

The FIA is a global trade organization with a diverse membership base, including clearing firms, exchanges, clearing houses, and trading firms from over 48 countries, along with various professionals serving the industry with the mission to support open, transparent and competitive markets, protect and enhance the integrity of the financial system and promote high standards of professional conduct.

The newly-granted membership reflects Abaxx’s readiness to meet the commercial needs of global futures markets participants. Abaxx Exchange and Abaxx Clearing will be introducing centrally cleared, physically-delivered futures contracts and derivatives to deliver better price signals and better risk management tools, as well as an enhanced market ecosystem enabling energy and commodity markets to accelerate the energy transition.

“Joining the FIA marks an important step in our timeline toward the launch of the Abaxx Exchange and Clearinghouse,” said Abaxx Exchange Chief Commercial Officer, Joe Raia. “The FIA has long been a leading industry advocate for better risk policies in global regulated markets. As a member of the FIA, Abaxx Exchange and Clearing looks forward to advocating for smarter markets and better energy transition products.”

About Abaxx

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 a majority-owner of Abaxx Exchange and Abaxx Clearing, subsidiaries recognized by MAS as an RMO and 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.