December 8
, 2023 [crocon media – msch] In a significant development for the global commodities market, Abaxx Technologies Inc. (NEO:ABXX)(OTCQX:ABXXF) has received approval from the Monetary Authority of Singapore (MAS) for its subsidiaries, Abaxx Clearing Pte Ltd. and Abaxx Exchange Pte Ltd., to operate as an Approved Clearinghouse (ACH) and Recognised Market Operator (RMO), respectively. This move is set to revolutionize the way futures and options contracts are listed, traded, and settled globally.
Transformative Impact on Global Commodities Markets
The granting of these licenses to Abaxx Singapore’s subsidiaries is a game-changer. It allows for the establishment of a regulated marketplace that not only provides a venue for listing and trading futures and options contracts but also offers centralized clearing and settlement services. This development is particularly crucial for the global energy transition, offering new exchange market infrastructure to support a lower-carbon economy.
A New Era of Commodity Futures Markets
Abaxx Technologies’ approach to commodity futures markets is set to address the gaps left by legacy commodities futures exchanges. With the global energy and resource supply chains undergoing significant changes, Abaxx’s innovative solutions offer market participants new approaches and more competition. This includes the development of new, physically-deliverable contracts for commercial risk management, which are essential in today’s rapidly evolving information technology landscape.
Abaxx Technologies is not just creating a new commodity exchange; it’s also pioneering in technological advancements. The company’s use of deep learning-based AI and a cloud-based distributed manufacturing network is indicative of its commitment to driving improvements in manufacturing capabilities. This technological edge is expected to enhance transaction velocity, data security, and risk management.
Future Prospects and Market Implications
The implications of this development are far-reaching. Abaxx Technologies is poised to become a key player in the global commodities market, offering innovative solutions that could redefine how commodities are traded and settled. This could attract significant interest from various sectors, including aerospace, defense, advanced automotive, and high-tech industrial markets.
The approval of Abaxx Technologies by MAS marks a significant milestone in the evolution of global commodities markets. With its innovative approach and advanced technological infrastructure, Abaxx is well-positioned to lead the charge in transforming the industry and supporting the global energy transition.
Read the press release : https://www.globenewswire.com/news-release/2023/12/07/2792529/0/en/Abaxx-Granted-Approved-Clearinghouse-and-Recognised-Market-Operator-Licenses-from-Monetary-Authority-of-Singapore.html
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