StoneX Becomes Abaxx Exchange’s First Clearing and Trading Member to Expand Market Offering
Retrieved on:
Tuesday, January 30, 2024
SINGAPORE, Jan. 30, 2024 (GLOBE NEWSWIRE) -- StoneX Financial Pte Ltd (“StoneX”), a subsidiary of StoneX Group Inc. (NASDAQ: SNEX), and Abaxx Technologies Inc. (NEO:ABXX)(OTCQX:ABXXF) (“Abaxx”), today announced that StoneX has become the first approved clearing and trading member of Abaxx’s indirectly held, majority-owned Singapore-based exchange (“Abaxx Exchange”) and clearinghouse (“Abaxx Clearing”), introducing centrally cleared, physically-deliverable futures contracts, and licensed as a Recognised Market Operator (“RMO”) and Approved Clearing House (“ACH”) with the Monetary Authority of Singapore (“MAS”).
Key Points:
- SINGAPORE, Jan. 30, 2024 (GLOBE NEWSWIRE) -- StoneX Financial Pte Ltd (“StoneX”), a subsidiary of StoneX Group Inc. (NASDAQ: SNEX), and Abaxx Technologies Inc. (NEO:ABXX)(OTCQX:ABXXF) (“Abaxx”), today announced that StoneX has become the first approved clearing and trading member of Abaxx’s indirectly held, majority-owned Singapore-based exchange (“Abaxx Exchange”) and clearinghouse (“Abaxx Clearing”), introducing centrally cleared, physically-deliverable futures contracts, and licensed as a Recognised Market Operator (“RMO”) and Approved Clearing House (“ACH”) with the Monetary Authority of Singapore (“MAS”).
- This will enable StoneX clients to be the first market participants to benefit from Abaxx’s market price discovery and enhanced risk management tools for energy transition-related commodities.
- Nancy Seah, CEO, Abaxx Exchange said: “The Abaxx team is thrilled to have StoneX lead the way as the first clearing member of Abaxx Exchange and Abaxx Clearing.
- Having a world class firm like StoneX as our first clearing member reaffirms the Abaxx mission of bringing smarter markets to our collective customers.”