Abaxx Exchange registered as foreign board of trade

Executive Summary

• The U.S. Commodity Futures Trading Commission (CFTC) granted Abaxx Technologies Inc.'s Abaxx Commodity Exchange and Clearinghouse registration as a Foreign Board of Trade (FBOT).
• This regulatory approval enables United States-based futures commission merchants, brokers, and trading firms to directly access Abaxx Exchange's regulated markets for the first time.
• The move marks a significant milestone in the company's commercial expansion, allowing U.S. participants to trade benchmark contracts in energy, environmental, battery materials, and precious metals.

Key Details

• Regulatory Action: CFTC granted FBOT registration to Abaxx Commodity Exchange and Clearinghouse.
• Market Access: U.S. futures commission merchants, brokers, and trading firms can now directly access Abaxx Exchange's regulated markets.
• Product Suite: The exchange offers physically deliverable futures markets, including:
  • The only physically backed liquefied natural gas (LNG) forward curves currently trading globally.
  • The only physically deliverable, U.S.-dollar-denominated gold kilobar futures contract based in Singapore.
  • The first physically deliverable, U.S.-dollar-denominated lithium carbonate benchmarks outside of China.
  • The first financially settled contracts indexed to the utilization of installed wind capacity in Germany.
• Trading Hours: Monday to Friday, 10 a.m. to 12 a.m. Singapore time (14 hours), excluding Singapore public holidays.
• Strategic Goal: To accelerate participation across the company's growing suite of benchmark contracts and provide better price discovery and risk management tools for commodities critical to the transition to a lower-carbon economy.

Notable Quotes

• "FBOT registration positions Abaxx to bring direct U.S. participation into the commodity benchmarks of the energy transition. With this access, U.S. commercial players can participate in benchmarks anchored in real physical trade flows -- expanding participation and liquidity in Abaxx markets and extending smarter markets to the world's largest futures trading community." — Joe Raia, Chief Commercial Officer, Abaxx Exchange
• "Abaxx's FBOT registration provides an additional pathway for our U.S. participants to engage with those opportunities." — Tom Anderson, Senior Vice-President, Group Chief Financial Officer and Chief Operating Officer, ADM Investor Services
• "We welcome Abaxx Exchange's foreign board of trade registration and the access it provides our North American commodity futures clients to trade these new markets." — Randall Fenlon, Global Co-Head of Energy, Commodities and Shipping, BGC Group