NEW YORK and LONDON, Feb. 10, 2016 /PRNewswire/ — Allocated Bullion Exchange (ABX) has today launched as the world’s first global institutional electronic exchange for allocated physical precious metals, which will provide market participants integrated, transparent, and secure access to local markets and global liquidity pools.
ABX offers a modern, revolutionary solution to the precious metals industry by migrating the institutional trade and storage of physical precious metals into the electronic environment and significantly reducing the barriers for entry to the wholesale physical bullion market.
ABX’s open, efficient market with real-time price discovery and transparency is an innovative disruptor to existing methods of physical bullion trading, which are slow, inefficient, inaccessible and lack transparency, resulting in high costs and creating a disincentive for precious metals producers, traders and investors.
Through its unique proprietary and online trading platform ‘MetalDesk’, ABX provides instant electronic global trading, price discovery, and clearing facilities to market participants worldwide, including all physical industry participants, wealth managers, brokerage platforms and investors.
ABX is a cutting edge, centrally cleared, transparent and cost-effective allocated exchange system and standard for the industry. The exchange presents precious metal market participants with a platform where they can safely and efficiently trade, deliver, store and monetise physical precious metal in 11 global locations.
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.”
ABX is a membership-based, institutional exchange, offering trading, storage and delivery services for physical precious metals in one electronic environment, via its state-of-the-art technological solution, the MetalDesk trading platform. ABX offers a value proposition to market participants across the world including precious metal producers, refiners, intermediary broker-dealers, asset managers, institutional and private investors, manufacturers and jewellers.
Further information on the exchange is available through the website www.abx.com
Allocated Bullion Exchange (ABX) is the world’s first institutional electronic exchange for allocated physical precious metals. It offers innovative, transparent and integrated access to the wholesale physical bullion market, for the full trade cycle. Consisting of 11 locational trading hubs, it is the first exchange to offer holistic institutional trading facilities (trading, clearing, settlement and technological facilities), as well as storage and delivery services, making it the most efficient and cost-effective solution for physical precious metals trading.
The membership-based exchange removes existing barriers to entry to the global wholesale market through its robust infrastructure which integrates real-time global trading, localized price discovery, and storage and delivery services into one centralized online trading environment using the ground-breaking trading platform, MetalDesk. ABX aims to modernize and globalize the precious metal markets by connecting local markets and major global liquidity centres including Sydney, London, New York, Singapore, Hong Kong, Shanghai (Free Trade Zone), Bangkok, Zurich, Istanbul and Dubai.
ABX was born from the increased demand for a modern, globalized online environment for physical precious metals trading, which works under open market conditions. Until 2016, the exchange was housed under Bullion Capital before being launched as its own entity.
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