Mr. Josh Crumb reports

ABAXX EXCHANGE REPORTS RECORD QUARTERLY TRADING VOLUME AND AVERAGE DAILY OPEN INTEREST

Abaxx Technologies Inc. has released September and third quarter 2026 trading results, with quarterly volume reaching 1,522,286 contracts, up 71 per cent from second quarter.

Total exchange volume, ADV and average daily open interest reached new quarterly highs in Q3 2026:

• Q3 volume increased 71 per cent to 1,522,286 contracts, ADV increased 61 per cent to 23,420 contracts per day and average daily open interest increased 22 per cent to 782 contracts compared with Q2.
• Gulf of Mexico LNG, North Pacific Asia LNG, Gold Singapore and Lithium Carbonate Singapore futures each reached new quarterly volume highs. Compared with Q2, volume increased 17 per cent for GOM, 19 per cent for NPA, 42 per cent for GKS and 9 per cent for LCS.
• Silver Singapore futures traded 454,241 contracts in the contract's first full quarter of trading, following its May 22 launch.
• For the six months ended Sept. 30, 2026, trading volume and ADV were more than seven times those of the preceding six months. Volume increased from 332,594 to 2,411,188 contracts, ADV from 2,661 to 19,136 contracts per day and average daily open interest from 337 to 714 contracts.

"The third quarter was our strongest yet," said Russell Robertson, chief business development officer at Abaxx Exchange. "We remain focused on using our market-maker and liquidity provider programs to create the conditions necessary for increased commercial participation in our markets. Commercial participants want to see more outright trading, which increased to 22 per cent of September trading volume from 15 per cent in August. They want narrower bid-ask spreads to reduce the cost of entering and exiting positions and order book depth to facilitate putting on larger positions. Our market-makers have decreased their average bid-ask spreads in GKS and SSP, and we continue to see an increase in order book depth across multiple active contract months."

Within the record third quarter, there was daily, weekly and monthly variability in trading activity, which is to be expected in new and growing markets.

July's ADV of 34,136 contracts included three particularly active sessions with daily volumes of 117,879, 103,527 and 70,941 contracts. Across the other 20 trading days, July ADV was 24,639 contracts, illustrating how individual sessions can affect monthly results in Abaxx's new and growing markets.

ADV was 18,897 contracts in August and 16,328 in September. As noted in the August update, the company believes lower activity reflected normal variability, including summer seasonality and adjustments -- but not reductions -- to liquidity provider programs. Trading activity reaccelerated after an ADV of 4,739 contracts in the first half of September, reaching 27,916 contracts per day in the second half of the month and 22,340 contracts per day through Oct. 9.

Across the full quarter, ADV increased 61 per cent from Q2, alongside narrower bid-ask spreads, increased order book depth and a greater share of outright trading.

Neither July's three exceptionally active trading sessions, nor the lower volumes in August and early September, taken in isolation, are a reliable basis for ascertaining the trajectory of exchange activity. The company includes six-month comparisons in its trading updates to help investors assess progress across these expected fluctuations. For the six months ended Sept. 30, 2026, trading volume and ADV were more than seven times those of the preceding six months.

The company remains confident in its trajectory toward its goal of one million ADV over three to five years, which would imply maintaining 50-per-cent to 100-per-cent half-over-half growth, as creating the right conditions for commercial participation translates into rising commercial trading volumes in the future.

"The key indicators commercial traders care about -- order book depth, narrowing bid-ask spreads and a growing share of outright trading -- are all moving in the right direction," said Abaxx founder and chief executive officer Josh Crumb. "It's a process. First, market-makers and liquidity providers establish the right conditions, which they have largely done. Then, commercial participants encourage their FCMs to connect directly to Abaxx Clearing. In particular, commercial participation would greatly benefit from on-boarding a Tier 1 bank clearing member to support their margin financing needs. To support this on-boarding phase, our market-maker and liquidity provider programs are, by design, structured to scale alongside activity. We expect these liquidity-related credits to essentially offset transaction and clearing fees in the near term as our priority remains building the next generation of commodity benchmark futures contracts rather than near-term transaction and clearing revenue."

LNG futures reached new monthly volume highs for a second consecutive month in September:

• GOM volume increased 5 per cent to 26,318 contracts and NPA volume increased 7 per cent to 26,699 contracts, bringing combined LNG volume to 53,017 contracts, up 6 per cent from August.
• Gold Singapore futures traded 176,928 contracts, up 1 per cent from August, marking the sixth consecutive month with volume above 170,000 contracts.
• September marked the third-highest monthly volume to date at 359,208 contracts, down 5 per cent from August, with an ADV of 16,328 contracts. While the lower trading volume seen in August continued into the first two weeks of September, activity accelerated in the second half of the month, with an ADV of 27,916 contracts per day, continuing into October, with a month-to-date ADV of 22,340 contracts per day through Oct 9.

About Abaxx Technologies Inc.

Abaxx is building smarter markets: markets empowered by better tools, better benchmarks and better technology to drive market-based solutions to the biggest challenges faced as a society, including the energy transformation and the transition to an artificial-intelligence-augmented economy.

In addition to developing and deploying financial technologies that make communication, trade and transactions easier and more secure, Abaxx is the majority shareholder of Abaxx Singapore, the owner of Abaxx Exchange and Abaxx Clearing, parent company of wholly owned subsidiaries Abaxx Spot and Adaptive Infrastructure, and founder and creator of Abaxx Labs and the SmarterMarkets podcast.

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