NEW
YORK and SINGAPORE,
July 9,
2024 /PRNewswire/ -- Eventus, a leading provider of
comprehensive, at-scale trade surveillance software, and Abaxx
Technologies, a financial software and market infrastructure
company and majority shareholder of Abaxx Singapore Pte Ltd.
("Abaxx Singapore"), the owner of Abaxx Commodity Exchange
and Clearinghouse, announces that Abaxx Exchange has selected
Eventus to provide the trade surveillance platform for the new
marketplace. Abaxx has deployed the Validus platform as the
foundation of its market surveillance program.
Open for trading as of June 28,
2024, and based in Singapore, Abaxx offers global futures on
energy, metals and other energy transition focused commodities,
beginning with liquified natural gas (LNG) and carbon, soon to be
followed by solutions for battery metals.
Dan McElduff, Abaxx Exchange
President, Strategy and Development, said: "As the first new
regulated exchange and clearinghouse focused on physical
commodities and built from the ground up in over a decade, Abaxx
requires a market surveillance tool that is robust, customizable
and scalable, yet quick and easy to implement. Eventus' Validus
platform offers the flexibility we were looking for, supported by
an experienced and responsive team guiding Abaxx in the deployment
of the solution with ease. The user-centric features of Validus
provide Abaxx with strong workflow automation, and better focus and
control over our surveillance responsibilities of the market."
Eventus CEO Travis Schwab said:
"We are incredibly honored that Abaxx has entrusted our team to
provide the backbone of its critical trade surveillance function
through the Validus platform. The innovative commodity exchange has
generated significant interest in the industry. Market integrity is
a high priority for the exchange, and Abaxx will benefit from our
expertise and high-performance surveillance technology used by
marketplaces and leading financial institutions across the
globe."
About Eventus
Eventus provides state-of-the-art,
at-scale trade surveillance software across all lines of defense.
Its powerful, award-winning Validus platform is easy to deploy,
customize and operate across equities, options, futures, foreign
exchange (FX), fixed income and digital asset markets. Validus is
proven in the most complex, high-volume, and real time environments
of Eventus' rapidly growing client base, including tier-1 banks,
broker-dealers, futures commission merchants (FCMs), proprietary
trading groups, market centers, buy-side institutions, energy and
commodity trading firms, and regulators. Clients rely on the
platform, coupled with the firm's responsive support and product
development, to overcome its most pressing trade surveillance
regulatory challenges. For more, visit www.eventus.com.
About Abaxx Technologies
Abaxx is building
Smarter Markets — markets empowered by better financial technology
and market infrastructure to address our biggest challenges,
including the energy transition. In addition to developing and
deploying financial technologies that make communication, trade,
and transactions easier and more secure, Abaxx is a
majority-owner of Abaxx Exchange and Abaxx
Clearing, subsidiaries recognized by MAS as
an RMO and ACH, respectively.
Abaxx Exchange and Abaxx Clearing are a Singapore-based commodity futures exchange and
clearinghouse, introducing centrally cleared, physically
deliverable commodities futures and derivatives to provide better
price discovery and risk management tools for the commodities
critical to our transition to a lower-carbon economy.
For more information please
visit abaxx.tech, abaxx.exchange
and smartermarkets.media.
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SOURCE Eventus and Abaxx