TORONTO: Abaxx Technology Corp. Ltd., a development stage financial technology business and global commodities exchange, launched on NEO Exchange. Abaxx is now available for trading under the symbol NEO:ABXX.
Founded in 2018, Abaxx develops software tools that enable commodity traders and finance professionals to communicate, manage risk, and transact faster and more securely.
The Company is uniquely positioned to promote price discovery, transparency, order matching, settlement and clearing for market participants in energy and commodities, especially where terms of trade are not yet standardized.
Abaxx is transforming the marketplace, technological infrastructure, regulatory and governance framework to reinvent commodities exchanges.
Led by a team of commodities experts and senior executives, Abaxx leverages deep expertise in markets, software technology, and intellectual property to capture the rapidly growing spot market for Liquified Natural Gas (LNG), and the global energy transition from coal and oil to gas and renewables.
“While evaluating options to grow our business, the NEO team has been closely aligned with our views on the future of the exchange industry in fulfilling commercial requirements and serving shareholders,” noted Josh Crumb, Founder and CEO of Abaxx.
“This is a true listing partnership with an exchange that is, like us, committed to technology and progress. Abaxx is improving communication and productivity with innovative software tools for commodity traders and finance professionals. Concurrently, we are launching our new Commodity Exchange in Singapore, focused on Energy and Battery Metals related to the transition from coal and oil to gas and renewables. It’s an exciting time for Abaxx and we are grateful to NEO for their continued role in our journey.”
Investors can trade shares of NEO:ABXX through their usual investment channels, including discount brokerage platforms and full-service dealers.
“As a cutting-edge fintech company in the commodities space, Abaxx is well-versed in the capital markets and exchange industry. Their decision to list on the NEO Exchange is a powerful endorsement of our exceptional service and commitment to delivering results,” noted Jos Schmitt, President and CEO of NEO.
“Abaxx is at the crest of a wave of technology companies preparing to launch on NEO, all of whom share our laser-like focus on innovation and disruption. NEO is proud to be their senior exchange of choice, and we look forward to providing Abaxx with the enhanced liquidity, increased access to capital, and wider investor exposure they are seeking.”
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Abaxx Technologies Inc. is a development stage financial technology business developing software tools which enable commodity traders and finance professionals to communicate, trade and transact faster and more securely. Abaxx Technologies Inc. is the majority shareholder of Abaxx Singapore Pte. Ltd. (“Abaxx Commodity Exchange”, or “ACX”), a commodity futures exchange seeking final regulatory approvals as a Recognized Market Operator (“RMO”) and Approved Clearing House with the Monetary Authority of Singapore (“MAS”).