Market infrastructure company Abaxx Technologies said on Monday that its commodity exchange Abaxx Exchange will launch Abaxx Silver Singapore futures on Friday, expanding its precious metals product suite in the city-state.
The contract is aimed at the global industrial silver market, according to the company. Abaxx said the product is designed to provide a benchmark for price discovery and hedging, with physical delivery into approved vaults in Singapore intended to support Asian industrial trade flows.
The contract is USD-denominated, sized at 1,000 troy ounces, physically deliverable, and carries a fineness requirement of 0.9999. Trading will be available from both Toronto and Singapore.
“Silver is increasingly tied to the industrial inputs behind solar, electronics, and advanced manufacturing,” said Russell Robertson, Chief Business Development Officer at Abaxx Exchange. “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.”
Robertson said the contract is designed to close that gap with a physically deliverable product built around higher-purity silver and delivery in Singapore.
The silver listing sits alongside Abaxx’s existing Gold Singapore Kilobar futures (GKS), a physically deliverable gold contract also denominated in USD with 0.9999 fineness and delivery into approved Singapore vaults, data from the exchange shows. The GKS contract is sized at one kilobar, or 32.148 fine troy ounces, and is structured around the kilobar format preferred in Asian physical gold markets.
In March, Abaxx futures became available through TMX Trayport’s Joule platform, which is used by more than 9,800 traders globally across energy, commodities and environmental markets.
