Company news

Allocated Bullion Exchange (ABX) Officially Soft-Launched

Until now, the ABX exchange was housed under Bullion Capital, but has now been launched as its own entity.

The Allocated Bullion Exchange (ABX) has finally launched today as the world’s first global institutional electronic exchange for allocated physical precious metals. ABX sees itself as a disruptor to the existing methods of physical bullion trading, which it describes as “slow, inefficient, inaccessible and lack[ing] transparency, resulting in high costs and creating a disincentive for precious metals producers, traders and investors.”

Until now, the exchange was housed under Bullion Capital which has acted as ABX’s pre-launch test platform. Its proprietary online trading platform MetalDesk provides instant electronic trading, price discovery, and clearing facilities to market participants worldwide.

ABX’s aim is to modernize the precious metals markets by connecting with major global liquidity centers including Sydney, London, New York, Singapore, Hong Kong, Shanghai (Free Trade Zone), Bangkok, Zurich, Istanbul and Dubai.

Tom Coughlin, CEO, ABX
Tom Coughlin, CEO, ABX

ABX CEO Tom Coughlin said: “The soft launch of the ABX is the culmination of many years of hard work and planning in developing a modern, transparent and efficient solution for the trading of allocated physical precious metals. The ABX platform is a cutting edge offering to the precious metals industry and several major industry players are already signed up to join the marketplace. Our soft launch will allow current and pre-onboarded ABX members to announce to their client base the commercialization of ABX and the availability of products and services via the exchange.

Our team has been working on this vision for more than five years now, so I am extremely proud to finally be introducing the exchange to the precious metals industry. At a time of high volatility in global markets and resurgent interest in precious metals, the launch of ABX is expanding access, enhancing efficiency and raising transparency in a market that historically has been opaque.”

 

Friday, 12 Feb, 2016 / 2:48

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : https://www.financemagnates.com/institutional-forex/exchanges/allocated-bullion-exchange-abx-officially-soft-launched/

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