FEAS Yearbook FEAS Yearbook 2023 | Page 88

The Federation of Euro-Asian Stock Exchanges

Baymarkets

About Company

Established: 2016

Address: Prinsens gate 2, 0152 Oslo,

Norway

Contact person: Tore Klevenberg

Email: [email protected]

Website: www.baymarkets.com

- Joined FEAS in 2022 -

Peter Fredriksson

Chairman of the Board

Year in review

Baymarkets provides our clearinghouse system Clara to global Exchanges, marketplaces and clearinghouses.

During 2023 we have been very busy with delivering and adapting Clara to Abaxx Exchange, which is a new Commodity Exchange based in Singapore.

Abaxx is now getting ready for launch in the beginning of 2024 after accepting delivery of Clara, and then receiving regulatory approval from the Singapore regulator MAS in 2023.

Abaxx Exchange introduces centrally cleared physically delivered futures contracts and derivatives to deliver better price signals, better risk management and an enhanced market ecosystem enabling energy and commodity markets to accelerate the energy transition.

The first products will be Liquified Natural Gas (LNG) Nickel Sulphide, and Carbon Offsets.

Abaxx is using our VaR based risk model with Filtered Historical Simulation (FHSVaR), and also utilizing our stress test- and guarantee fund framework.

Project of the year: Delivery of our clearing system Clara  to Abaxx Exchange

Event of the year: We have been present at several conferences during 2023 with the highlights at the FEAS events in Yerevan and Almaty, where we were asked to participate in panels to discuss trends in the CCP world and to talk about clearing in general.

Change of the year: During 2023 we increased our team in Norway with risk expert Thorbjorn Bors, taking on the responsibility of Business Development in Risk, and have also strengthened the development team.

Accomplishment of the year: Abaxx UAT and MAS approvals

Word of the year: Dedication

Person of the year: Instead of pointing out a special person we consider 2023 a huge team effort.

Member of the year: Since we don’t have members like the exchanges dfo we want to put forward Abaxx Exchange as our client of the year.

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