Abaxx Partners With Eventus and ION for Carbon Market Platform
Abaxx Exchange has partnered with Eventus and ION to enhance its new carbon market platform. Eventus will provide trade surveillance through its Validus platform, while ION will offer post-trade clearing and risk solutions via its XTP technology.
About the Partnership with Eventus
Abaxx has deployed the Validus platform for its market surveillance program. Validus provides robust, customisable, and scalable surveillance capabilities. It offers strong workflow automation, enhancing focus and control over market surveillance. Validus is quick and easy to implement and is supported by an experienced and responsive Eventus team.
About the Partnership with ION
Abaxx has implemented ION’s XTP technology for post-trade clearing and risk management. XTP supports real-time position valuations, margining, and commission calculations. It allows exchange clearing members to source trades via the Abaxx Clearinghouse API. XTP performs account transfers, trade splits, and give-up/take-up processes. It calculates final settlement amounts and produces required reports during the end-of-day process.
Carbon Market Platform – Benefits for Traders
This synergy will offer numerous benefits to traders and investors:
Enhanced Market Surveillance
With Eventus’ Validus platform, traders and investors will have a strong and scalable market surveillance system. This will ensure market integrity, reduce the risk of fraudulent activities, and increase trust in the platform.
Improved Risk Management
ION’s XTP technology provides real-time position valuations, margining, and commission calculations. Traders and investors can manage their risk more effectively with up-to-date information.
Efficient Post-Trade Processes
XTP facilitates account transfers, trade splits, and give-up/take-up processes. This streamlines post-trade activities, making it easier and faster for traders and investors to manage their transactions.
Comprehensive Reporting
XTP technology generates detailed reports, including final settlement amounts and end-of-day processes. This provides traders and investors with clear and accurate data, enhancing their decision-making capabilities.
Support for Energy Transition Strategies
The partnership supports the energy transition by providing future contracts for LNG and carbon markets. Traders and investors can execute strategies aligned with the global shift towards low-carbon energy sources.
Abaxx
Abaxx is a Singapore-based commodity futures exchange and clearinghouse that offers global futures on energy, metals, and other commodities focused on energy transition. It launched in June 2024 and provides physically deliverable commodity benchmark futures contracts. Abaxx uses advanced technologies like Eventus’ Validus and ION’s XTP to ensure robust market surveillance and efficient post-trade processes.
Events
Eventus provides trade surveillance software and the Validus platform, which ensures market integrity across various asset classes. It was founded in 2014 and serves tier-1 banks, broker-dealers, and trading firms globally. Its technology is customisable, scalable, and easy to implement. Eventus aims to help clients meet regulatory challenges and maintain market trust.
ION
ION provides trading and workflow automation software. It offers financial institutions, central banks, and corporations high-value analytics and insights. Founded in 1999, ION furnishes post-trade clearing and risk management solutions. Its XTP technology supports real-time valuations and comprehensive reporting. ION’s goal is to enhance efficiency and risk management in financial markets. The company aims to support the evolving needs of the derivatives market. ION focuses on delivering robust and secure solutions for its clients.
Conclusion
Abaxx’s partnerships with Eventus and ION strengthen its market surveillance and post-trade processes, ensuring robust and efficient operations. These collaborations support Abaxx’s mission to enhance market integrity and aid the global energy transition. Looking ahead, Abaxx aims to establish itself as a leading exchange, providing secure and transparent markets for critical commodities.
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