Singapore: Abaxx Technologies Inc (Abaxx), a financial software and market infrastructure company, announced that Abaxx Exchange will launch Abaxx Silver Singapore futures on May 22, expanding its precious metals product suite.

According to BERNAMA News Agency, the futures contract is designed for the commercial requirements of the global industrial silver market, providing standardised reference pricing and risk management tools aligned with physical market practices.

Abaxx Exchange Chief Business Development Officer, Russell Robertson, highlighted that silver is increasingly linked to industrial demand from sectors such as solar, electronics, and advanced manufacturing. Robertson noted that as these supply chains grow, commercial participants need pricing and risk management tools that connect more directly to the physical silver they source and use.

Robertson further elaborated that the Abaxx Silver Singapore futures contract is designed to close this gap with a physically deliverable contract built around higher-purity silver and delivery in Singapore. The contract is intended to provide a globally accessible benchmark for price discovery and hedging, with physical delivery in Singapore to support Asian industrial trade flows.

Denominated in United States dollars, the contract is based on 1,000 troy ounces of 0.9999 fine silver and will be delivered into approved vaults in Singapore.