ABX claims to offer 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.
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. Through its online trading platform ‘MetalDesk’, ABX provides instant electronic global trading, price discovery, and clearing facilities to market participants worldwide.
“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,” ABX CEO Tom Coughlin said.
“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 commercialisation 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.”