At the monthly CCP Global Executive Committee Meeting in November 2024, the Executive Committee accepted Abaxx Commodity Futures Exchange and Clearinghouse (“Abaxx”) as an Observer Member of CCP Global. Abaxx, consisting of MAS-licensed Abaxx Exchange and Abaxx Clearing as recognised market operator and approved clearing house respectively, is a Singaporebased commodity futures exchange and clearing house that introduces centrally cleared, physically deliverable commodities futures and derivatives to provide better price discovery and risk management tools for the commodities critical to the transition to a lower-carbon economy. In particular, Abaxx Clearing provides central clearing, mitigates counterparty credit risk and completes the full-service offering of Abaxx Exchange.
“We are excited to welcome our newest member Abaxx to CCP Global, bringing our total membership to 44. Abaxx’s innovative approach to commodity markets will add valuable insights to our organization’s activities, Our membership warmly welcomes them to our community, and we look forward to great collaboration with them.” said Teo Floor, CEO of CCP Global.
"Abaxx is excited and honoured to join CCP Global. It not only enhances our operational capabilities as an individual CCP but also fosters collaboration with our fellow members and knowledge sharing. We want to contribute to further strengthening global financial markets' overall stability and efficiency.” said Nancy Seah, CEO of Abaxx Exchange.
