Abaxx chooses Cinnober trading and clearing technology to power new commodity exchange

By Cinnober - 2018.11.27

Press releases

Cinnober, a global provider of exchange and clearing technology solutions, today announces that Abaxx Exchange will use Cinnober’s TRADExpress Trading System and TRADExpress RealTime Clearing for its new commodity exchange and clearinghouse.

Abaxx’s commodity exchange and clearinghouse, currently in development in Singapore, will initially focus on Liquefied Natural Gas (LNG) derivatives. The new exchange will leverage Cinnober’s established trading and clearing systems, which will provide a resilient and reliable technological framework needed to operate an advanced marketplace.

We were impressed with the functionality of the Cinnober solutions, in addition to the competencies of their technical teams,” stated John Knorring CEO of Abaxx Exchange. “This partnership establishes the foundation to extend the portfolio of capabilities of the Abaxx Exchange.

“Cinnober’s systems are playing a crucial part in setting up this venue for price formation and trading of LNG contracts, in order to make global energy trading more efficient,” says Peter K. Lenardos, CEO of the Cinnober Group. “Our proven trading and post-trade solutions will enable Abaxx to rapidly deploy the infrastructure, functions and services needed to operate a safe, fair and orderly marketplace.”

Cinnober provides trading and clearing technology to marketplaces and clearinghouses globally. Cinnober’s customers include leading exchanges such as the Asia Pacific Exchange (APEX), Australian Securities Exchange (ASX), B3, Dubai Gold & Commodities Exchange (DGCX), Euronext, Japan Exchange Group (JPX), London Metal Exchange (LME), Johannesburg Stock Exchange (JSE), and Stock Exchange of Thailand (SET).

 

For further information, please contact:

Anna Hallgren
Co-Head of Marketing and Corporate Communications
Cinnober Financial Technology AB
Tel. +46 73 347 87 20
anna.hallgren@cinnober.com

 

About Cinnober

Cinnober provides solutions and services to trading venues and clearing houses. Cinnober’s solutions are largely based on the TRADExpress™ Platform, incorporating everything needed for mission-critical solutions in terms of performance, robustness and flexibility. The portfolio of offerings includes price discovery and matching, real-time risk management, clearing and settlement, index calculation, data distribution and surveillance.

Cinnober’s customers include Asia Pacific Exchange, Australian Securities Exchange, B3, Dubai Gold & Commodities Exchange, Euronext, Japan Exchange Group, Johannesburg Stock Exchange, London Metal Exchange, LME Clear, NYSE and Stock Exchange of Thailand.

Cinnober is part of the Cinnober Group which also includes the subsidiaries Simplitium and Minium. For additional information, please visit https://group.cinnober.com.

Cinnober’s shares are traded on the Nasdaq First North exchange and the company’s Certified Advisor is FNCA. To help the market to assess the value of the deals won by Cinnober, the following definitions have been established. A major deal is one for which the order value over a period of five years is estimated to exceed SEK 100 million. A smaller deal is one for which the order value over a period of five years is estimated to be less than SEK 30 million. A medium-sized deal is one for which the order value over a period of five years is estimated to be in between that of a smaller deal and a major one. The signed agreements mentioned above, one for trading and one for clearing, are each considered medium-sized deals from this perspective.

This information is such that Cinnober Financial Technology AB (publ) is obliged to publish under the EU Market Abuse Regulation and the Securities Market Act. This announcement was published on November 27, 2018 at 10.00 a.m. CET.

 

About Abaxx

A subsidiary of Abaxx Technologies headquartered in Singapore, Abaxx Exchange was founded to introduce market-based technology solutions to solve energy trading inefficiencies.  Headed by former exchange executives, energy trading experts, and payment technology specialists, the organization is primarily focused on standardizing the terms of trade and credit in the increasingly complex global energy markets.

Abaxx Technologies is dedicated to the Commoditization of Trust™.  Through the development and deployment of trust-enabling internet protocols, Abaxx is accelerating commerce and reducing exposure to risk in targeted global industries.

Timeline

2000
Breakthrough order from American Stock Exchange
Breakthrough order from American Stock Exchange
Breakthrough order from American Stock Exchange
2017
Breakthrough order from American Stock Exchange

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