TORONTO, Jan. 29, 2024 (GLOBE NEWSWIRE) — Abaxx Technologies Inc. (NEO:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company, producer of the SmarterMarkets™ podcast and indirect majority shareholder of Abaxx Singapore Pte Ltd. (“Abaxx Singapore”), the owner of Abaxx Commodity Exchange and Clearinghouse (individually “Abaxx Exchange” and “Abaxx Clearing”) announces that Abaxx Singapore Pte. Ltd has been approved for membership in the Futures Industry Association (FIA).
The FIA is a global trading organization with a diverse membership base that includes clearing firms, exchanges, clearing houses and trading companies from over 48 countries, as well as various professionals serving the industry whose mission is to support open, transparent and competitive markets and protect and strengthen the integrity of the financial system and promote high standards of professional conduct.
The newly granted membership reflects Abaxx's willingness to serve the commercial needs of participants in global futures markets. Abaxx Exchange and Abaxx Clearing will introduce centrally cleared, physically delivered futures and derivatives to deliver better price signals and better risk management tools, as well as an improved market ecosystem that will enable energy and commodities markets to accelerate the energy transition.
“Joining the FIA is an important step in our timeline to launch the Abaxx Exchange and Clearinghouse,” said Joe Raia, Chief Commercial Officer of the Abaxx Exchange. “The FIA has long been an industry leader for better risk policies in globally regulated markets. As a member of the FIA, Abaxx Exchange and Clearing looks forward to championing smarter markets and better products for the energy transition.”
About Abaxx
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, trading and transactions easier and more secure, Abaxx is the majority owner of Abaxx Exchange and Abaxx Clearing, subsidiaries recognized by MAS as RMO and ACH, respectively.
Abaxx Exchange and Abaxx Clearing are a Singapore-based commodity futures exchange and clearinghouse that introduces centrally cleared, physically deliverable commodity futures and derivatives contracts to provide better pricing and risk management tools for the commodities critical to our transition to a lower-carbon economy .
Further information can be found at abaxx.tech, abaxx.exchange and smartermarkets.media.
Media and investor inquiries:
Abaxx Technologies Inc.
Investor relations team
Tel: +1 246 271 0082
Email: [email protected]
For further information about Abaxx related to this press release, please contact:
Steve Fray, CFO of Abaxx
Phone: 416-786-4381
Cautionary Statement Regarding Forward-Looking Information
This press release contains certain “forward-looking information” (sometimes referred to as “forward-looking statements”) that are not historical facts. Forward-looking information includes estimates and statements that describe Abaxx's future plans, goals or objectives, including statements that Abaxx expects a particular condition or result to occur. Forward-looking information can be identified by terms such as “seek,” “believe,” “anticipate,” “expect,” “estimate,” “may,” “could,” “would,” “will” or “plan.” Because forward-looking information is based on assumptions and relates to future events and conditions, it inherently involves risks and uncertainties. Although forward-looking information is based on information currently available to Abaxx, Abaxx provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors associated with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this press release includes, but is not limited to, Abaxx and its subsidiaries, objectives or future plans, statements regarding Abaxx's ability to develop and deliver its commercial products, the expected positive effects of delivery of its commercial products, etc. positive future effects of joining the FIA, Date of commencement of operations and financial forecasts and estimates of market conditions. Such factors affecting forward-looking information include, but are not limited to: risks related to the global economic climate; Dilution; the Company's limited operating history; future capital needs and uncertainty regarding additional financing and capital market conditions generally; the competitive nature of the industry; exchange rate risks; the need for Abaxx to manage its planned growth and expansion; the impact of product development and the need for continuous technology change; protection of property rights; the impact of government regulation and compliance on Abaxx and the industry; failure to obtain required approvals from regulatory authorities on a timely basis or at all; the ability to list the Company's securities on stock exchanges on a timely basis or at all; network security risks; Abaxx's ability to maintain properly functioning systems; dependence on key personnel; deterioration in global economic and financial markets that impedes access to capital or increases the cost of capital; and volatile securities markets, which affect securities prices regardless of operating performance. Specific factors that could affect Abaxx's future results of operations include, but are not limited to: operations in foreign jurisdictions; protection of intellectual property rights; contractual risk and third-party risk; Clearinghouse risk, malicious actor risk, third party software license risk, system failure risk, technological change risk and technical infrastructure dependency; capital market conditions and stock dilution resulting from stock issuances; Abaxx Singapore's inability to raise sufficient funds; and restrictions on labor and international travel and supply chains. Abaxx also assumes that no material events will occur outside of Abaxx's normal course of business.
Abaxx points out that the above list of essential factors does not claim to be complete. Although Abaxx has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to meet expectations, estimates or intentions. When investors and others rely on Abaxx's forward-looking information to make decisions, they should carefully consider the foregoing factors as well as other uncertainties and potential events. Abaxx believes that the material factors set forth in the preceding paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change. There can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
The forward-looking information contained in this press release represents Abaxx's expectations as of the date of this press release and, accordingly, may change after such date. Readers should not place undue importance on forward-looking information or rely on this information at any other time. Abaxx undertakes no obligation to update this information at any time, except as required by applicable laws. CBOE Canada assumes no responsibility for the adequacy or accuracy of this release.
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