Cinnober, a global provider of exchange and clearing technology solutions, today announces that Abaxx Exchange will use Cinnober’s TRADExpress Trading System and TRADExpress RealTime Clearing for its new commodity exchange and clearinghouse.
Abaxx’s commodity exchange and clearinghouse, currently in development in Singapore, will initially focus on Liquefied Natural Gas (LNG) derivatives. The new exchange will leverage Cinnober’s established trading and clearing systems, which will provide a resilient and reliable technological framework needed to operate an advanced marketplace.
“We were impressed with the functionality of the Cinnober solutions, in addition to the competencies of their technical teams,” stated John Knorring CEO of Abaxx Exchange. “This partnership establishes the foundation to extend the portfolio of capabilities of the Abaxx Exchange.”
“Cinnober’s systems are playing a crucial part in setting up this venue for price formation and trading of LNG contracts, in order to make global energy trading more efficient,” says Peter K. Lenardos, CEO of the Cinnober Group. “Our proven trading and post-trade solutions will enable Abaxx to rapidly deploy the infrastructure, functions and services needed to operate a safe, fair and orderly marketplace.”