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Abaxx Announces First Carbon Futures Delivery on Abaxx Exchange
TORONTO, May 07, 2025 (GLOBE NEWSWIRE) -- Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) ( ...
About this update from Abaxx Technologies Inc
[{"type":"text","content":"Abaxx Announces First Carbon Futures Delivery on Abaxx Exchange\n\n\n\n TORONTO, May 07, 2025 (GLOBE NEWSWIRE) -- Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) (“\n \n Abaxx\n \n ” or the “\n \n Company\n \n ”), a financial software and market infrastructure company, majority shareholder of Abaxx Singapore Pte Ltd., the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “\n \n Abaxx Exchange\n \n ” and “\n \n Abaxx Clearing\n \n ”), and producer of the SmarterMarkets™ Podcast, today announced the successful first delivery under a carbon futures contract on Abaxx Exchange.\n \n\n The delivery, involving 50 lots of May 2025 CORSIA¹ Phase 1 Carbon Offset Unit Futures (“CP1”) priced at USD $24.25/tCO₂e², validates the clearing, delivery, and settlement processes underpinning Abaxx Exchange’s physically-deliverable futures contracts. It marks the first live exercise of Abaxx’s end-to-end infrastructure for managing the transfer of environmental assets through a regulated futures market.\n \n\n The transaction was completed between Mercuria Energy Trading SA (METSA) and a U.S. based counterparty, with Eagle Commodities, a division of Marex, facilitating the original trade. Clearing services were provided by KGI Securities, Marex, and another bank clearing firm.\n \n\n The delivery involved the transfer of eligible CORSIA Phase 1 carbon units from Mercuria to a registry account established for the buyer, fulfilling the delivery obligations under the May 2025 CP1 futures contract.\n \n\n “This marks the first delivery through Abaxx’s carbon futures infrastructure, a contract structure designed to support price formation, risk management, and forward planning,” said Alasdair Were, Head of Environmental Markets at Abaxx Exchange. “These are the functions needed to make environmental markets investable and connect capital to climate-linked exposures.”\n \n\n “We are proud to support the execution, clearing and delivery of the May 2025 CORSIA Phase 1 Carbon Offset Unit Futures,” said Ken Ong, CEO of KGI Securities. “This transaction underscores the strength of Abaxx Exchange’s infrastructure and our commitment to sustainable finance, empowering clients i...