NEW YORK / SINGAPORE, July 9, 2024 – Eventus, a leading provider of comprehensive, at-scale trade surveillance software, and Abaxx Technologies, a financial software and market infrastructure company and majority shareholder of Abaxx Singapore Pte Ltd. (“Abaxx Singapore”), the owner of Abaxx Commodity Exchange and Clearinghouse, announces that Abaxx Exchange has selected Eventus to provide the trade surveillance platform for the new marketplace. Abaxx has deployed the Validus platform as the foundation of its market surveillance program.
Open for trading as of June 28, 2024, and based in Singapore, Abaxx offers global futures on energy, metals and other energy transition focused commodities, beginning with liquified natural gas (LNG) and carbon, soon to be followed by solutions for battery metals.
Dan McElduff, President, Strategy and Development, said: “As the first new regulated exchange and clearinghouse focused on physical commodities and built from the ground up in over a decade, Abaxx requires a market surveillance tool that is robust, customizable and scalable, yet quick and easy to implement. Eventus’ Validus platform offers the flexibility we were looking for, supported by an experienced and responsive team guiding Abaxx in the deployment of the solution with ease. The user-centric features of Validus provide Abaxx with strong workflow automation, and better focus and control over our surveillance responsibilities of the market.”
CEO Travis Schwab: “We are incredibly honored that Abaxx has entrusted our team to provide the backbone of its critical trade surveillance function through the Validus platform. The innovative commodity exchange has generated significant interest in the industry. Market integrity is a high priority for the exchange, and Abaxx will benefit from our expertise and high-performance surveillance technology used by marketplaces and leading financial institutions across the globe.”
About Eventus
Eventus provides state-of-the-art, at-scale trade surveillance software across all lines of defense. Its powerful, award-winning Validus platform is easy to deploy, customize and operate across equities, options, futures, foreign exchange (FX), fixed income and digital asset markets. Validus is proven in the most complex, high-volume, and real time environments of Eventus’ rapidly growing client base, including tier-1 banks, broker-dealers, futures commission merchants (FCMs), proprietary trading groups, market centers, buy-side institutions, energy and commodity trading firms, and regulators. Clients rely on the platform, coupled with the firm’s responsive support and product development, to overcome its most pressing trade surveillance regulatory challenges. For more, visit www.eventus.com.
About Abaxx Technologies
Abaxx is building Smarter Markets — markets empowered by better financial technology and market infrastructure to address our biggest challenges, including the energy transition. In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is a majority-owner of Abaxx Exchange and Abaxx Clearing, subsidiaries recognized by MAS as an RMO and ACH, respectively.
Abaxx Exchange and Abaxx Clearing are a Singapore-based commodity futures exchange and clearinghouse, introducing centrally cleared, physically deliverable commodities futures and derivatives to provide better price discovery and risk management tools for the commodities critical to our transition to a lower-carbon economy.
For more information please visit abaxx.tech, abaxx.exchange and smartermarkets.media.
For more information about this press release, please contact:
For Abaxx:
Steve Fray, CFO
Tel: +1 416-786-4381
Media and investor inquiries:
Abaxx Technologies Inc.
Investor Relations Team
Tel: +1 246-271-0082
E-mail: ir@abaxx.tech
For Eventus:
Ellen G. Resnick
Crystal Clear Communications
+1 773-929-9292; +1 312-399-9295 (mobile)