Mercuria and HNK Alpha Execute First Carbon Futures Block Trades on Abaxx Commodity Futures Exchange and Clearinghouse

TORONTO, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Abaxx Technologies Inc. (NEO:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company, majority shareholder of Abaxx Singapore Pte Ltd. (“Abaxx Singapore”), the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “Abaxx Exchange” and “Abaxx Clearing”), and producer of the SmarterMarkets™ Podcast, today announced the execution of the first two carbon futures block trades, traded between Mercuria and HNK Alpha on October 30, 2024.

Mercuria and HNK Alpha traded 50 lots of December 2024 CORSIA¹ Phase 1 Carbon Offset Unit Futures at USD $24.00/tCO2e². Mercuria and HNK Alpha also traded 50 lots of December 2025 JREDD+³ Carbon Offset Unit Futures at USD $17.75/tCO2e.

Abaxx’s carbon futures contracts are designed to enhance price discovery and equip market participants with improved risk management tools. These centrally-cleared, physically-deliverable contracts were launched in June to provide reliable price signals essential for pricing carbon emissions and advancing decarbonization efforts.

“We’re proud that Mercuria has chosen to use Abaxx Exchange Environmental Futures to better manage their risk in global carbon markets,” said Abaxx Exchange’s Head of Environmental Markets, Alasdair Were. “We’ve built these contracts in collaboration with global market participants and to meet the needs of the commercial market, and we look forward to continue working with world-class trading firms like Mercuria to build liquidity in our carbon markets.”

Abaxx’s suite of futures contracts for LNG and carbon are open for trading 14 hours a day, Monday through Friday. Visit for a full list of clearing firms and execution brokers.



Notes:

¹ Carbon Offsetting and Reduction Scheme for International Aviation

² Tonne of carbon dioxide equivalent

³ Jurisdictional Reducing Emissions from Deforestation and Forest Degradation

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.



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