Abaxx To Launch Silver Futures Contract In Singapore
KUALA LUMPUR, May 19 (Bernama) -- Abaxx Technologies Inc (Abaxx), a financial software and market infrastructure company, announced that Abaxx Exchange will launch Abaxx Silver Singapore futures on May 22, expanding its precious metals product suite.
According to a statement, the futures contract is designed for the commercial requirements of the global industrial silver market, providing standardised reference pricing and risk management tools aligned with physical market practices.
Abaxx Exchange Chief Business Development Officer, Russell Robertson said silver is increasingly linked to industrial demand from sectors such as solar, electronics and advanced manufacturing.
“As those supply chains grow, commercial participants need pricing and risk management tools that connect more directly to the physical silver they source and use.
“The Abaxx Silver Singapore futures contract is designed to close that gap with a physically deliverable contract built around higher-purity silver and delivery in Singapore,” he said.
The contract is intended to provide a globally accessible benchmark for price discovery and hedging, with physical delivery in Singapore to support Asian industrial trade flows.
Denominated in United States dollars, the contract is based on 1,000 troy ounces of 0.9999 fine silver and will be delivered into approved vaults in Singapore.
-- BERNAMA