Business
StoneX and ACX to Collaborate to Create U.S. Digital Carbon Marketplace
The agreement further affirms StoneX's commitment to bringing liquidity and transparency to carbon trading and represents ACX's expansion into the U.S. market
About this update from Stonex Group Inc.
[{"type":"text","content":"The agreement further affirms StoneX's commitment to bringing liquidity and transparency to carbon trading and represents ACX's expansion into the U.S. market\nMIAMI, SINGAPORE and ABU DHABI, UAE, March 22, 2023 /PRNewswire/ -- StoneX Group Inc. (\"StoneX\") and AirCarbon Pte. Ltd. (\"ACX\") have signed an agreement to create a digital carbon marketplace in the United States as part of the StoneX platform. The new digital carbon marketplace will enable StoneX clients to access markets and trade carbon over a transparent and seamless solution.\nStoneX will create and operate the digital carbon marketplace utilizing ACX's existing technology infrastructure, which includes order matching and clearing and settlement of carbon trades. StoneX will work with ACX to develop the specifications for the carbon contracts to be traded in the new digital carbon marketplace. This offering will target project developers, sellers, end-buyers, and other traders of carbon credits.\nOscar Schaps, President of Latin America FCM Division, StoneX commented: \"This agreement solidifies StoneX's long-term commitment to carbon trading and creating increased transparency in this fast-moving market. Leveraging ACX's expertise and established presence in the marketplace will add significant value for our clients. This is a mutually beneficial relationship and we are excited about our continued collaboration with ACX over the longer-term.\"\nWilliam Pazos, Co-CEO and Co-Founder of ACX commented: \"The ACX ecosystem connects global carbon markets seamlessly on a fully regulated common order book. We are excited to link our markets in Abu Dhabi, Singapore and Brazil to StoneX, further expanding our reach into North America and the broader StoneX platform of over 54,000 commercial, institutional, and global payments customers.\" \nAbout StoneX Group Inc.\nStoneX Group Inc., through its subsidiaries, operates a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high touch service and deep expertise. The Company strives to be the one trusted partner to its clients, providing its network, product and services to allow them to pursue trading opportunities, manage their market risks, make investments and...