Abaxx talks up Q2 milestones, trading gains

Executive Summary

• Abaxx Technologies provided a Q2 2025 corporate update highlighting significant operational milestones, including the successful launch and trading activity of its Gold Singapore Futures (GKS) contract and Gulf of Mexico LNG Futures (GOM).
• The company achieved its first-ever physical delivery of a regulated, exchange-cleared voluntary carbon contract, validating its end-to-end infrastructure capabilities.
• Strategic developments include the formation of Abaxx Spot for physically allocated gold trading, the advancement of CFTC FBOT recognition applications, and the announcement of pilots for private digital title financing and tokenized USD trust networks.

Key Details

• Gold Singapore Futures (GKS):
  • Officially launched on June 12, 2025.
  • Average daily volumes increased from 200 lots in June to 500–1,000+ lots in August.
  • Consistent days above 1,000 lots recorded; active curve established across four months.
  • Development underway for additional precious metals including silver, platinum, and rhodium.
• LNG and Carbon Markets:
  • Gulf of Mexico LNG Futures (GOM): Gained traction with regular trading activity and the first calendar-month spread trade; noted as the only physically backed LNG forward curve available and trading globally.
  • Carbon Contracts: Completed the first-ever physical delivery of a regulated, exchange-cleared voluntary carbon contract between major global participants.
  • Weather futures and carbon market contracts aligned with regional compliance programs moved to Stage 3; these will be the first Abaxx products priced in non-USD currencies.
  • Stage 3 development continued on complementary cash-settled LNG contracts and a financially settled copper spread contract.
• Commercial and Liquidity Metrics:
  • 80 firms (clearing firms, trading firms, interdealer brokers) are either fully connected or in the process of onboarding with Abaxx Exchange.
  • Connectivity established with 15 market maker firms and five liquidity providers to deepen market liquidity and tighten bid/ask spreads.
  • Active negotiations with state-owned enterprises (SOEs) regarding incorporating Abaxx LNG benchmarks into pricing formulas.
  • Discussions ongoing with external exchange groups in China for cross-jurisdictional product listing opportunities.
• Regulatory and Risk Management:
  • Application to the U.S. Commodity Futures Trading Commission (CFTC) for recognition as a Foreign Board of Trade (FBOT) is under review and progressing well.
  • Implemented exchange rule changes regarding error trade cancellation and no-cancellation bands.
  • Established accounts with two clearing members as designated liquidation brokers for default management.
• Systems and Operations:
  • Abaxx Singapore granted ISO/IEC 27001:2022 certification for exchange and clearing infrastructure.
  • Multicurrency settlement and collateralization capabilities completed development and testing, with implementation scheduled for Q3 2025.
• Abaxx Console Suite and Digital Title:
  • Announced a Q4 2025 pilot for the first application of Abaxx's private digital title, financing gold futures margin with physical gold held in Abaxx Spot.
  • Announced a second pilot to test the Abaxx U.S.-dollar trust network using private digital title and ID++ technologies with tokenized-U.S.-dollar money market funds.
  • Deployed pilot-ready Abaxx Messenger, Sign, and Drive applications to production ahead of schedule.
  • Validated bank-grade security of Verifier+ for passwordless login.
• Abaxx Spot:
  • Incorporated as a separate entity in Q2 2025 to operate a physically allocated gold trading platform in Singapore.
  • Uses an undivided interest structure for 99.99% purity kilobars, traded via a prefinanced, OTC-cleared central limit order book (CLOB).
  • Registered dealer under the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019 (PSPM Act); exempt from spot commodities brokers licence under the Commodity Trading Act 1992.
  • Not regulated by the Monetary Authority of Singapore as a financial institution but operates in compliance with the PSPM Act.