Abaxx and Eventus partner to enhance trade surveillance in new commodity exchange

Abaxx and Eventus partner to enhance trade surveillance in new commodity exchange

Eventus, a leader in comprehensive, at-scale trade surveillance software, and Abaxx Technologies, a pioneer in financial software and market infrastructure, have announced their collaboration.

The partnership has been formed to equip Abaxx Exchange with a robust, customizable, and scalable trade surveillance platform as it launches its new marketplace. This collaboration ensures that the exchange can maintain high standards of market integrity from its inception.

Eventus offers the Validus platform, an award-winning trade surveillance system that can be tailored and scaled to suit various market needs. It is designed for easy deployment and operation across diverse markets including equities, options, futures, and more. The platform is trusted by leading financial institutions globally, providing comprehensive regulatory solutions to complex, high-volume trading environments.

Abaxx Technologies is committed to developing financial technologies that enhance communication, trade, and transactions, making them easier and more secure. As the majority owner of Abaxx Exchange and Abaxx Clearing, Abaxx plays a critical role in the regulatory recognized market operations and clearinghouses. Its latest project, Abaxx Exchange, focuses on commodities relevant to energy transitions such as liquified natural gas (LNG) and carbon.

The new marketplace opened for trading on June 28, 2024, in Singapore, offering global futures on energy, metals, and other commodities critical to energy transition. Initial offerings include liquified natural gas and carbon, with plans to expand to battery metals and other solutions.

Abaxx Exchange President, Strategy and Development, Dan McElduff 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.”

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