Abaxx Technologies Launches Innovative Gold Trading Infrastructure in Singapore

Abaxx Technologies Inc ( (TSE:ABXX) ) has issued an update.

Abaxx Technologies Inc. has launched a new gold trading infrastructure in Singapore, introducing a physically-deliverable Gold Kilobar Futures contract and the Abaxx Spot Gold Pool. This initiative marks the first co-located spot and futures market infrastructure for gold in Asia, aiming to streamline the trading, storage, and settlement of gold by aligning futures and spot markets with the physical trade. The launch is expected to reduce market fragmentation, offer a regional benchmark for price discovery, and simplify post-trade settlement, providing a more efficient and secure platform for bullion dealers, refiners, and other market participants.

Spark’s Take on TSE:ABXX Stock

According to Spark, TipRanks’ AI Analyst, TSE:ABXX is a Neutral.

Abaxx Technologies Inc. has strong revenue growth and a solid balance sheet, but it remains unprofitable with negative cash flow, significantly impacting its financial performance score. Technical analysis points to a stable stock price without significant upward momentum. Valuation metrics are poor due to negative profitability. However, strategic corporate events positively influence the overall score by enhancing financial stability and market potential.

To see Spark’s full report on TSE:ABXX stock, click here.

More about Abaxx Technologies Inc

Abaxx Technologies Inc. is a financial software and market infrastructure company focused on creating smarter markets through better tools, benchmarks, and technology. It is the majority shareholder of Abaxx Singapore Pte. Ltd., which owns the Abaxx Commodity Futures Exchange and Clearinghouse, and the parent company of Abaxx Spot Pte. Ltd.

Average Trading Volume: 193,538

Technical Sentiment Signal: Buy

Current Market Cap: C$61.56M

For detailed information about ABXX stock, go to TipRanks’ Stock Analysis page.