Abaxx Announces First Carbon Futures Delivery on Abaxx Exchange

TORONTO, May 07, 2025 (GLOBE NEWSWIRE) -- Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company, majority shareholder of Abaxx Singapore Pte Ltd., the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “Abaxx Exchange” and “Abaxx Clearing”), and producer of the SmarterMarkets™ Podcast, today announced the successful first delivery under a carbon futures contract on Abaxx Exchange.

The delivery, involving 50 lots of May 2025 CORSIA¹ Phase 1 Carbon Offset Unit Futures (“CP1”) priced at USD \$24.25/tCO₂e², validates the clearing, delivery, and settlement processes underpinning Abaxx Exchange’s physically-deliverable futures contracts. It marks the first live exercise of Abaxx’s end-to-end infrastructure for managing the transfer of environmental assets through a regulated futures market.

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The transaction was completed between Mercuria Energy Trading SA (METSA) and a U.S.-based counterparty, with Eagle Commodities, a division of Marex, facilitating the original trade. Clearing services were provided by KGI Securities, Marex, and another bank clearing firm.

The delivery involved the transfer of eligible CORSIA Phase 1 carbon units from Mercuria to a registry account established for the buyer, fulfilling the delivery obligations under the May 2025 CP1 futures contract.

"This marks the first delivery through Abaxx’s carbon futures infrastructure, a contract structure designed to support price formation, risk management, and forward planning," said Alasdair Were, Head of Environmental Markets at Abaxx Exchange. "These are the functions needed to make environmental markets investable and connect capital to climate-linked exposures."

"We are proud to support the execution, clearing and delivery of the May 2025 CORSIA Phase 1 Carbon Offset Unit Futures," said Ken Ong, CEO of KGI Securities. "This transaction underscores the strength of Abaxx Exchange’s infrastructure and our commitment to sustainable finance, empowering clients in the evolving environmental asset landscape."

The CORSIA Phase 1 Carbon Offset Unit Futures contract, launched in June 2024, is part of Abaxx Exchange’s growing suite of physically-deliverable products across energy, environmental, battery materials, and precious metals markets.

Abaxx’s full suite of futures contracts is open for trading 14 hours a day, Monday through Friday. For a full list of clearing firms and execution brokers, visit our market directory.

About Abaxx Technologies

Abaxx Technologies is building Smarter Markets: markets empowered by better tools, better benchmarks, and better technology to drive market-based solutions to the biggest challenges we face as a society, including the energy transition.

In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is the majority shareholder of Abaxx Singapore Pte. Ltd., the owner of Abaxx Exchange and Abaxx Clearing, and the parent company of wholly owned subsidiary Abaxx Spot Pte. Ltd., the operator of Abaxx Spot.

Abaxx Exchange delivers the market infrastructure critical to the shift toward an electrified, low-carbon economy through centrally-cleared, physically-deliverable futures contracts in LNG, carbon, battery materials, and precious metals, meeting the commercial needs of today’s commodity markets and establishing the next generation of global benchmarks.

Abaxx Spot modernizes physical gold trading through a digitally integrated, physically-backed gold pool in Singapore. It is set to become the first market infrastructure to align spot and futures gold markets in the same location—enabling secure electronic transactions, efficient OTC transfers, and physical delivery for Abaxx Exchange’s gold futures contracts to deliver smarter gold markets.

For more information, visit https://abaxx.tech | https://abaxx.exchange | https://abaxxspot.com | https://basecarbon.com | https://smartermarkets.media

¹ Carbon Offsetting and Reduction Scheme for International Aviation
² Tonne of carbon dioxide equivalent