Abaxx Confirms Active Trading in Gold Singapore Futures Following Launch
By GlobeNewswire Published on June 16, 2025, 04:00 IST
TORONTO, June 15, 2025 (GLOBE NEWSWIRE) — Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) ('Abaxx' or the 'Company'), a financial software and market infrastructure company, majority shareholder of Abaxx Singapore Pte Ltd., the owner of Abaxx Commodity Exchange and Clearinghouse (individually, 'Abaxx Exchange' and 'Abaxx Clearing'), and producer of the SmarterMarkets™ Podcast, today announced active trading in its physically-deliverable Gold Singapore Futures following the product's official launch on June 12, 2025.
As the only physically-deliverable, U.S. dollar-denominated gold futures contract based in Asia's primary trading center of Singapore, this product provides a regionally relevant tool for price discovery, hedging, and delivery, and offers global access to a contract designed for today's trade flows.
The Abaxx Gold Singapore Futures contract is a USD-denominated, kilobar-sized product aligned with the format preferred by the regional physical bullion trade. Deliverable into approved vaults in Singapore, the contract is purpose-built to serve refiners, industrial consumers, banks, and physical traders seeking to hedge kilobar transactions in Asia's key delivery hub.
The launch comes at a time when gold prices are reaching record highs and demand for regional price transparency is growing.
Abaxx Gold Singapore Futures saw active trading during their first two trading sessions. Eight market makers participated, including firms from Singapore, Hong Kong, London and Thailand, with more market makers and commercial firms expected to connect in the coming weeks.
'KGI Securities Singapore is delighted to be cleared for trading on the Abaxx Gold Singapore Futures contract,' said Ken Ong, CEO of KGI Securities Singapore. 'This new offering directly addresses the growing demand for regional price transparency and a physically-deliverable gold product tailored for the Asian market. We are excited to facilitate access for our clients to this critical new instrument and to further strengthen our commitment to providing comprehensive solutions in the commodities market.'
'We congratulate Abaxx on the launch of their Gold Futures contract,' said Golf Hirunyasiri, CEO, MTS Gold Group. 'MTS Gold is pleased to be the first physical market participant committed to supporting delivery under Abaxx's Gold Futures contract. We are excited about the synergy and participation and wish Abaxx continued success.'
The Abaxx Gold Singapore Futures contract is available for trading 14 hours per day, Monday through Friday. For full contract specifications and onboarding information, visit abaxx.exchange/resources-clearing-members-brokers .
About Abaxx Technologies
Abaxx Technologies is building Smarter Markets: markets empowered by better tools, better benchmarks, and better technology to drive market-based solutions to the biggest challenges we face as a society, including the energy transition.
In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is the majority shareholder of Abaxx Singapore Pte. Ltd., the owner of Abaxx Exchange and Abaxx Clearing, and the parent company of wholly owned subsidiary Abaxx Spot Pte. Ltd., the operator of Abaxx Spot.
Abaxx Exchange delivers the market infrastructure critical to the shift toward an electrified, low-carbon economy through centrally-cleared, physically-deliverable futures contracts in LNG, carbon, battery materials, and precious metals, meeting the commercial needs of today's commodity markets and establishing the next generation of global benchmarks.
Abaxx Spot modernizes physical gold trading through a physically-backed gold pool in Singapore. As the first instance of a co-located spot and futures market for gold, Abaxx Spot enables secure electronic transactions, efficient OTC transfers, and is designed to support physical delivery for Abaxx Exchange's physically-deliverable gold futures contract, providing integrated infrastructure to deliver smarter gold markets.
For more information, visit abaxx.tech | abaxx.exchange | abaxxspot.com | basecarbon.com | smartermarkets.media
For more information about this press release, please contact:
Steve Fray, CFO
Tel: +1 647-490-1590
Media and investor inquiries:
Abaxx Technologies Inc.Investor Relations TeamTel: +1 246 271 0082
E-mail: [email protected]
Cautionary Statement Regarding Forward-Looking Information
This press release includes certain 'forward-looking statements' and 'forward-looking information' (collectively, 'forward-looking statements') within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as 'believe', 'anticipate', 'estimate', 'project', 'intend', 'expect', 'may', 'will', 'plan', 'should', 'would', 'could', 'target', 'purpose', 'goal', 'objective', 'ongoing', 'potential', 'likely' or the negative thereof or similar expressions.
In particular, this press release contains forward-looking statements including, without limitation, statements regarding the potential benefits and impact of the Gold Kilobar Futures contract and Abaxx Spot platform, the Company's business strategies, plans, and objectives, the development of new markets and products, expectations regarding Abaxx's partnerships, demand for Abaxx's products and market adoption and regulatory approvals. Forward-looking statements are based on the reasonable assumptions, estimates, analyses and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Such factors impacting forward-looking information include, among others: risks relating to the global economic climate; dilution; Abaxx's limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for Abaxx to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on Abaxx and the industry; acquiring and maintaining regulatory approvals for Abaxx's products and operations; the ability to list Abaxx's securities on stock exchanges in a timely fashion or at all; network security risks; the ability of Abaxx to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. In addition, particular factors which could impact future results of the business of Abaxx include but are not limited to: operations in foreign jurisdictions; protection of intellectual property rights; contractual risk; third-party risk; clearinghouse risk; malicious actor risks; third- party software license risk; system failure risk; risk of technological change; dependence of technical infrastructure; and changes in the price of commodities, capital market conditions, restriction on labor and international travel and supply chains, and the risk factors identified in the Company's most recent management discussion and analysis filed on SEDAR+. Abaxx has also assumed that no significant events occur outside of Abaxx's normal course of business.
Abaxx cautions that the foregoing list of material factors is not exhaustive. In addition, although Abaxx has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Abaxx has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking statements and information contained in this press release represents the expectations of Abaxx as of the date of this press release and, accordingly, is subject to change after such date. Abaxx undertakes no obligation to update or revise any forward-looking statements and information, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements and information. Cboe Canada does not accept responsibility for the adequacy or accuracy of this press release.
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Ahmedabad Plane Crash
GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hamilton Spectator
14 hours ago
- Hamilton Spectator
Jetoptera Executes FETT for FTC-250 at Paris Air Show 2025
PARIS, June 21, 2025 (GLOBE NEWSWIRE) — On the occasion of Jetoptera's debut at the Paris Air Show 2025, we are proud to announce the successful completion of the first test of the engine that will power the J-500, the 500-lb VTOL cargo unmanned aircraft system Jetoptera is developing in collaboration with Eanan Al Samma, for the United Arab Emirates (UAE) market. The First Engine To Test (FETT) was evaluated at the VAN DER LEE Turbo Systems facilities in Zaandam, The Netherlands. The 250 kW turbocompressor, that is the heart of the Fluidic Propulsive System™, is a two-shaft engine using a free turbine that is mechanically coupled to a two-stage axial compressor designed to produce the appropriate flow rates and pressure ratios required by the FPS™. 'The FETT demonstrated a very smooth startup and operability when operated in a turbofan mode. The engine was instrumented in this configuration, to monitor pressure and temperature as well as thrust produced. The next step includes the performance mapping of the turbocompressor, followed by the integration with the FPS™ onto the J-500 airframe,' said Dr Andrei Evulet, CEO/CTO of Jetoptera, Inc. The J-500 prototype is developed specifically for the UAE and MENA market and will be uniquely enabled by the FPS™ to perform unmanned cargo missions with VTOL and unmatched speed, low noise, and reliability thanks to the patented propulsion system. The modularity of the FTC-250 system allows its components to operate in turbojet, turbofan and FPS™ modes. Jetoptera and Eanan Al Samma thank Parametric Solutions, Inc. and VAN DER LEE Turbo Systems for their critical support in the design and manufacturing of the unique FTC-250 architecture in record time. For information about this press release please contact Todd Newton todd@ Jetoptera, Inc. Facebook: LinkedIn: A photo accompanying this announcement is available at
Yahoo
a day ago
- Yahoo
Is Cboe Global Stock Outperforming the Nasdaq?
Cboe Global Markets, Inc. (CBOE) is a leading global exchange operator and financial technology firm, headquartered in Chicago and employing around 1,650 people. With a market cap of $23.6 billion, it spans trading venues across North America, Europe, and Asia-Pacific. Companies with a market value of $10 billion or more are classified as 'large-cap stocks,' Cboe Global holds its place in this category. It leads the U.S. options market and is the originator of the VIX volatility index, giving it a unique edge in volatility-driven trading. Its consistent innovation, regulatory expertise, and scale position it as a key player in capital markets infrastructure, capable of capitalizing on both market volatility and long-term trading trends. Is Palantir Stock Poised to Surge Amidst the Israel-Iran Conflict? 'It Has No Utility': Warren Buffett Doesn't Care How High Gold Goes, He Isn't a Buyer OpenAI CEO Sam Altman Says 'We Are Heading Towards a World Where AI Will Just Have Unbelievable Context on Your Life' Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Cboe Global shares are currently trading 3.6% below its 52-week high of $236.02, which they touched recently on May 8. The stock has climbed 3.6% over the past three months, underperforming the broader Nasdaq Composite's ($NASX) 11.7% rise over the same time frame. However, on a year-to-date basis, CBOE has delivered a standout performance, surging 16.5% and handily outperforming the Nasdaq's modest 1.2% return. The outperformance extends over the longer horizon as well, with CBOE boasting a 34.4% gain over the past 52 weeks, far exceeding the Nasdaq's 9.4% rise during the same period. Since July last year, CBOE has remained above its 200-day moving average and has mostly traded over its 50-day moving average since early April. On May 2, shares of Cboe Global Markets rose over 2% following the release of its Q1 results, which exceeded expectations on both earnings and revenue. The company reported adjusted EPS of $2.50, surpassing consensus estimates by 5.9%, while adjusted revenue came in at $565.2 million, topping forecasts by 1.5%. It upgraded full-year guidance, with revenue growth now projected in the mid-to-high single-digit range, thanks to continued investment in tech platforms, global expansion, and Data Vantage. CBOE's rival, CME Group Inc. (CME), has outperformed the stock and gained 38.5% over the past 52 weeks and 17.2% in 2025. Analysts maintain a cautious outlook on its prospects. CBOE has a consensus rating of 'Hold' from the 17 analysts covering the stock and is currently trading above its mean price target of $225. On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Business Wire
a day ago
- Business Wire
ISG to Study Providers of Strategic Insurance Services
STAMFORD, Conn.--(BUSINESS WIRE)--Information Services Group (ISG) (Nasdaq: III), a global AI-centered technology research and advisory firm, has launched four research studies examining providers of services that address the complex needs of insurance enterprises. Insurance enterprises are navigating digital transformation, embracing advancements in AI and digital engineering. Providers foster these capabilities, ensuring that companies are equipped to thrive in a rapidly changing environment. Share The study results will be published in four ISG Provider Lens™ reports: Insurance Global Capability Centers (GCCs) by Service Providers, Insurance GenAI and Agentic AI Services, Insurance Services Specialists and Insurance Digital Engineering Services. The reports are scheduled to be released in November 2025. Enterprise buyers will be able to use information from the reports to evaluate their current vendor relationships, potential new engagements and available offerings, while ISG advisors use the information to recommend providers to the firm's buy-side clients. The insurance services ecosystem is evolving to address demands for streamlined processes, enhanced customer interactions and greater adaptability. Insurance companies increasingly use GCCs as essential hubs to boost operational efficiency. The integration of advanced AI technologies, such as generative AI and agentic AI, has become crucial for enhancing customer experience and operational resilience. Enterprises are seeking insurance services specialists to address skills gaps through tailored solutions. At the same time, digital engineering is transforming the industry by streamlining design-to-execution processes. 'Insurance enterprises are navigating a steep landscape of digital transformation, embracing advancements in AI and digital engineering,' said Iain Fisher, director at ISG. 'Providers play a crucial role in fostering these capabilities, ensuring that companies are equipped to thrive in a rapidly changing environment.' ISG has distributed surveys to more than 100 providers for the four studies. Working in collaboration with ISG's global advisors, the research team will produce four reports, each with one or more quadrants representing the strategic services insurance enterprises are buying, based on ISG's experience working with its clients. The four reports are: Insurance Global Capability Centers (GCCs) by Service Providers: This report will cover providers offering services for GCC setup, optimization and transformation. It will include one quadrant: Insurance GCC CaaS: Setup-Run-Optimize-Transform-Transfe r, evaluating providers that use a capability-as-a-service (CaaS) approach to support GCC setup and operation from end to end. These providers enable streamlined GCC operations, offer frameworks for continuous improvement using Lean and Six Sigma methodologies and align GCC capabilities with industry trends and organizational goals. Insurance GenAI and Agentic AI Services: This report will explore GenAI and agentic AI development and deployment services. It will include two quadrants: GenAI — Development and Deployment Service s, assessing providers that deliver end-to-end solutions from proofs of concept to full-scale GenAI implementation, including continuous monitoring and management. Providers are evaluated on their ability to deliver tailored cloud infrastructure and optimize resources for efficient model training and deployment. Agentic AI — Development and Deployment Service s, covering providers that specialize in delivering autonomous AI solutions capable of planning, executing and refining tasks with minimal human input. They employ agentic AI, which autonomously orchestrates tasks and performs self-corrections, to optimize insurance workflows and processes. Insurance Services Specialists: The report will assess companies delivering specialized services for life and retirement (L&R) and property and casualty (P&C) insurance operations and insurance ITO. It will include three quadrants: Life and Retirement (L&R) Insurance Services Specialists, evaluating providers that offer L&R insurance operations outsourcing. These providers utilize intelligent automation, analytics and AI to enhance speed, cost efficiency and accuracy while supporting various operations across the L&R lifecycle. Property and Casualty (P&C) Insurance Services Specialists, assessing providers that specialize in P&C insurance operations outsourcing, including consulting and managed services. These providers enhance operations by delivering speed, cost savings and accuracy, focusing on modernizing services and improving customer management and technology enablement in each functional area. Insurance ITO Services Specialists, covering ITO providers that offer traditional and modern digital services. These providers are assessed based on their ongoing or implemented technology support and business transformation programs across the insurance value chain. Insurance Digital Engineering Services: This report will assess providers of digital engineering services to insurance companies. It will include one quadrant: Insurance Digital Engineering Services, evaluating providers that deliver integrated hardware and software for data-driven product development and feature augmentation services. These providers increasingly use industrial automation, GenAI and agentic AI to support insurance companies from product design to execution. The reports will cover the global strategic insurance services market and examine products and services available globally. ISG analysts Ashish Jhajharia and Sandhya Hari Navage will serve as authors of the reports. A list of identified providers and vendors and further details on the studies are available in this digital brochure. Companies not listed as strategic insurance services providers can contact ISG and ask to be included in the study. All 2025 ISG Provider Lens™ evaluations feature expanded customer experience (CX) data that measures actual enterprise experience with specific provider services and solutions, based on ISG's continuous CX research. Enterprise customers wishing to share their experience about a specific provider or vendor are encouraged to complete this online survey. Participants will receive a copy of this report in return for their feedback. About ISG Provider Lens™ Research The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Mexico, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage. About ISG ISG (Nasdaq: III) is a global AI-centered technology research and advisory firm. A trusted partner to more than 900 clients, including 75 of the world's top 100 enterprises, ISG is a long-time leader in technology and business services that is now at the forefront of leveraging AI to help organizations achieve operational excellence and faster growth. The firm, founded in 2006, is known for its proprietary market data, in-depth knowledge of provider ecosystems, and the expertise of its 1,600 professionals worldwide working together to help clients maximize the value of their technology investments.
