Trading

LME faces new nickel competitor: ‘The marketplace came to us’

Twenty-one firms worked with Abaxx to develop the new contract

Launching with three products, Abaxx's exchange is awaiting approval from Singapore's financial regulator
Launching with three products, Abaxx's exchange is awaiting approval from Singapore's financial regulator Photo: Suhaimi Abdullah/Getty Images

The London Metal Exchange may soon face new competition in nickel trading.

Abaxx Technologies, a Toronto-based firm, is planning to set up a commodities exchange in Singapore with nickel as a flagship product.

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