KGI Securities Receives Membership Approval, Joins Abaxx Exchange as Clearing and Trading Member

KGI Securities will offer its clients access to Abaxx Exchange’s physically deliverable commodities contracts to facilitate their energy transition needs

SINGAPORE, Feb. 14, 2024 (GLOBE NEWSWIRE) -- KGI Securities (Singapore) Pte. Ltd. (“KGI Securities”), a wholly-owned subsidiary of KGI Securities Co. Ltd. and China Development Financial Holding Corporation (TPE: 2883) and Abaxx Technologies Inc. (NEO:ABXX)(OTCQX:ABXXF) (“Abaxx”), today announced that KGI Securities has become an approved clearing and trading member of Abaxx’s majority-owned Singapore-based exchange (“Abaxx Exchange”) and clearinghouse (“Abaxx Clearing”), facilitating centrally cleared, physically-deliverable futures contracts, and licensed as a Recognised Market Operator (“RMO”) and Approved Clearing House (“ACH”) with the Monetary Authority of Singapore (“MAS”).

KGI Securities’ clients will be among the first to access Abaxx Exchange’s first-of-their-kind, physically-deliverable futures contracts, including liquefied natural gas (“LNG”), nickel sulphate, and carbon, each on track to begin trading in the current quarter. KGI’s membership will enable their global client base to benefit from Abaxx’s market price discovery and enhanced risk management tools for energy transition-related commodities.

“We have witnessed exponential growth in our energy and commodities trading volumes over the years,” said Ken Ong, KGI Securities (Singapore) CEO. “The new Abaxx Exchange will revolutionize the way our clients engage in commodities trading, providing them with advanced risk management tools and technologies that facilitate seamless transactions.”

The partnership between KGI Securities and Abaxx Exchange brings together KGI Securities’ extensive experience in commodities trading and Abaxx Exchange’s state-of-the-art marketplace. By combining their expertise, the two organizations aim to empower market participants with innovative solutions and unlock new avenues for success.

KGI Securities has an established presence in Asia and with its 24-hour coverage, the multi-product and client-centric solutions entity offers one-stop service to clients in Asia, positioning itself as an ideal choice for clients looking to connect to Abaxx Exchange.

Nancy Seah, CEO, Abaxx Exchange said: “Record trading volumes on existing exchanges speak to an environment that is ready for new benchmark contracts for energy transition commodities along with better tools for managing new risk sources. We look forward to working alongside KGI Securities to help our collective clients navigate the unique challenges presented by our transition to a lower-carbon economy with the introduction of smarter markets.”