Abaxx Technologies Inc.

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Abaxx Technologies Inc.
Headquarters Singapore, Toronto, New York, Silicon Valley
Key People Josh Crumb, Founder and CEO
Website https://www.abaxx.tech/

Abaxx Technologies Inc. is a financial software company developing technological infrastructure for global commodity exchanges and digital marketplaces. It is the majority shareholder of Abaxx Singapore Pte. Ltd. and the Abaxx Commodity Exchange (ACX). The company says it is developing the technological infrastructure and applications for the Environmental, Social and Governance Economy. Its services include order matching, trade registration and clearing. Its formative technology is designed to increase transaction speed and data security and improve risk management.

Abaxx is the creator and producer of the SmarterMarkets™ podcast.

On August 25, 2021, Abaxx was notified that Monetary Authority of Singapore had given an "approval in principle" to the application of Abaxx Clearing Pte. Ltd. to become a clearing house. The move advanced the central clearing house towards launch, which is planned for September.[1]

History[edit]

Abaxx Technologies is a Canadian fintech startup that plans to launch a Singapore-based exchange and clearinghouse in September of 2021. The company has been working on a physically delivered Liquid Natural Gas "LNG" contract that it expects to be the cornerstone of the exchange. There was previously no physically delivered benchmark LNG contract, and market participants instead use a variety of derivative oil and gas contracts to hedge their market risk.

Abaxx intends for its LNG contract to consolidate the fractured and inefficient LNG market, and create a benchmark index in Asia to rival other regional hydrocarbon benchmarks such as WTI and Henry Hub in North America, and Brent crude in Europe.[2]

Products and Services[edit]

Their cornerstone exchange product will be an LNG contract that aims to be a benchmark contract akin to WTI or Henry Hub in North America, or Brent Crude in Europe.[3]

Key People[edit]

  • Josh Crumb, Founder and CEO
  • Andrew Fedak, Founder and Chief Strategy Officer
  • Bob Boisjoli, Chief Financial Officer

References[edit]