Australia-headquartered Allocated Bullion Exchange (ABX) has launched the world’s first global electronic platform for precious metals. The exchange will provide safe access to domestic markets, as well as to international liquidity pools, thereby reducing several common entry barriers to bullion markets.
With 11 trading hubs in various locations, ABX offers several services – including clearing, settlement, storage and delivery – in order to offer industry players a cost-effective and holistic solution for trading silver and gold.
“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”, said Tom Coughlin, CEO of ABX, in a company press release.
Up until now, physical precious metals was one of few asset markets that had not yet gone electronic, thus making trading less inclusive and causing a lack of confidence for participants. ABX’s MetalDesk Platform, however, resolves this issue, in addition to lowering costs for traders, increasing efficiency and offering members entry into the global market for the first time.
The exchange thus marks a new era of modernisation for bullion markets, and given that gold and silver can be used to hedge against inflation, a new period of popularity could be set to begin.
At present, ABX’s trading hubs are based in Bangkok, Dubai, Hong Kong, Istanbul, London, New York, Shanghai, Singapore, Sydney and Zurich.