Allocated Bullion Exchange (ABX) boosts liquidity
Allocated Bullion Exchange (ABX) boosts liquidity explained by professional Forex trading experts the “ForexSQ” FX trading team.
Allocated Bullion Exchange (ABX) boosts liquidity
The announcement of the collaboration with Finemetal Asia comes soon after the soft-launch of the ABX, an exchange that has redefined the way physical bullion is traded globally. The ABX provides participants with an online environment featuring real-time price discovery, price transparency, institutional liquidity and a point-click-trade electronic process for allocated physical bullion.
Finemetal Asia is one of the region’s leading institutional-facing liquidity providers and trades exclusively in physical gold, silver, platinum and palladium. An established name in the Asian market, Finemetal Asia has a special agreement for distribution of precious metals products of renowned gold fabricator Argor Heraeus. As a Full Member and Liquidity Provider of the ABX, Finemetal Asia will be providing liquidity on the ABX for a range of physical precious metals contracts.
Commenting on the announcement, Tom Coughlin, CEO of ABX, said:
What the ABX is setting out to do is to modernize, globalize and integrate the precious metals market. Liquidity is the cornerstone of our offering and the addition of Finemetal Asia to the ABX, alongside other key members, continues to improve the pricing and liquidity of the physical bullion contracts on the ABX.
Among the first members of the exchange, Finemetal Asia has an established reputation as a regional leader and we look forward to growing our business together in the Asia-Pacific region. The market-leading pricing and deep liquidity made available on the ABX continues to attract a growing membership base of physical bullion industry participants, asset managers, family offices and hedge funds, and we look forward to confirming further partnerships soon.
Pádraig J Seif, CEO of Finemetal Asia Ltd, commented:
Our deal with the ABX comes as the result of a successful test period as a liquidity provider for the ABX Trading Hubs of Hong Kong, Singapore, Switzerland and Australia, during which we saw a substantial increase in turnover. As a result of the high demand experienced during this test phase, we are now in a position to confirm that Finemetal Asia has made available over 20 tonnes of silver and 500 kilos of gold in Hong Kong to increase liquidity on the ABX.
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