The Federation of Euro-Asian Stock Exchanges
Baymarkets
About Company
Established: 2016
Address: Prinsens gate 2, 0152 Oslo,
Contact person: Tore Klevenberg
Email: [email protected]
Website: www.baymarkets.com
- Joined FEAS in 2022 -
Peter Fredriksson
Chairman of the Board
Year in review
2022 was something of a roller coaster for Baymarkets. In 2021 we won a contract to deliver our clearing system Clara to a new clearing house being set up in Ukraine. The project was due to begin in January 2022 and was initially pushed back when Russian troops first appeared on the Ukrainian border. Understandably, following the full scale invasion in February 2022 the project was placed on hold indefinitely..
During this time we were also having discussions with Abaxx Technologies, a commodity derivatives exchange in Singapore, about providing a clearing system for their newly established clearing house and exchange. We started working with them in May 2022 and are delighted by the successful progress of the project, and particularly, the relationships we have developed with the Abaxx team.
Abaxx exchange and clearing with physically delivered LNG (Liquified Natural Gas) and other Carbon products, and is expected to go live in Q2 of this year.
Baymarkets face the same challenges as many other tech companies - primarily finding and recruiting skilled and experienced developers.
There is fierce competition in the market and this remains a big challenge for us.
Furthermore, we have also been looking to expand our clearing expertise within the organisation. We are fortunate to have an extensive network in the
clearing space and were very pleased to have Thorbjorn Bors join us in January 2023.
Our goals for last year were to sign at least one new client contract and to expand our team, and having achieved both goals we look back at 2022 with satisfaction.
Delivering our Clara clearing system to the Abaxx Exchange
Signing the contract with Abaxx Exchange (and the ensuing celebration!)
Working with clients in different time zones has been an adjustment for us but has worked out very well.
In addition to the successful project with Abaxx, we have upgraded the UX in our Clara clearing system from an older version to a state-of-the-art GUI, which has been specifically designed for clearing houses.
Expansion
The team. We would not have achieved the success we did last year without the dedication and hard work of every member of our team.
Project of the year
Event of the year
Change of the year
Accomplishment
of the year
Word of the year
Person of the year