StoneX and ACX to Collaborate to Create U.S. Digital Carbon Marketplace

Rhea-AI Summary

StoneX Group Inc. and AirCarbon Pte. Ltd. have signed a strategic agreement to establish a digital carbon marketplace in the United States. This initiative will enhance liquidity and transparency in carbon trading, leveraging ACX's existing technology for order matching and settlement. The marketplace aims to serve a diverse range of clients, including project developers and traders of carbon credits.

Oscar Schaps, President of Latin America FCM Division at StoneX, emphasized the commitment to carbon trading, while ACX's Co-CEO highlighted the expansion of their ecosystem into North America. This partnership opens new avenues for clients involved in carbon markets.

Positive

• Creation of a digital carbon marketplace will enhance market presence in the U.S.
• Partnership with ACX leverages established technology for efficient trading.
• Broad client base targeted, including project developers and carbon credit traders.

Negative

• None.

News Market Reaction – SNEX

-3.52%

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-3.52% News Effect

On the day this news was published, SNEX declined 3.52%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

The agreement further affirms StoneX's commitment to bringing liquidity and transparency to carbon trading and represents ACX's expansion into the U.S. market

MIAMI, SINGAPORE and ABU DHABI, UAE, March 22, 2023 /PRNewswire/ -- StoneX Group Inc. ("StoneX") and AirCarbon Pte. Ltd. ("ACX") have signed an agreement to create a digital carbon marketplace in the United States as part of the StoneX platform. The new digital carbon marketplace will enable StoneX clients to access markets and trade carbon over a transparent and seamless solution.

StoneX will create and operate the digital carbon marketplace utilizing ACX's existing technology infrastructure, which includes order matching and clearing and settlement of carbon trades. StoneX will work with ACX to develop the specifications for the carbon contracts to be traded in the new digital carbon marketplace. This offering will target project developers, sellers, end-buyers, and other traders of carbon credits.

Oscar Schaps, President of Latin America FCM Division, StoneX commented: "This agreement solidifies StoneX's long-term commitment to carbon trading and creating increased transparency in this fast-moving market. Leveraging ACX's expertise and established presence in the marketplace will add significant value for our clients. This is a mutually beneficial relationship and we are excited about our continued collaboration with ACX over the longer-term."

William Pazos, Co-CEO and Co-Founder of ACX commented: "The ACX ecosystem connects global carbon markets seamlessly on a fully regulated common order book.  We are excited to link our markets in Abu Dhabi, Singapore and Brazil to StoneX, further expanding our reach into North America and the broader StoneX platform of over 54,000 commercial, institutional, and global payments customers." 

About StoneX Group Inc.

StoneX Group Inc., through its subsidiaries, operates a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high touch service and deep expertise. The Company strives to be the one trusted partner to its clients, providing its network, product and services to allow them to pursue trading opportunities, manage their market risks, make investments and improve their business performance. A Fortune-500 company headquartered in New York City and listed on the Nasdaq Global Select Market (NASDAQ:SNEX), StoneX Group Inc. and its over 3,600 employees serve more than 54,000 commercial, institutional, and global payments clients, and more than 400,000 retail accounts, from more than 80 offices spread across six continents. Further information on the Company is available at www.stonex.com.

About AirCarbon Pte. Ltd.

AirCarbon Exchange (ACX), operated by AirCarbon Pte. Ltd., is a global exchange revolutionizing the voluntary carbon market. ACX's client base comprises corporate entities, financial traders, carbon project developers and other industry stakeholders. ACX provides its participants with an efficient and transparent trading platform which is easy to use, frictionless and with the lowest transaction fees available in the market. Its underlying distributed ledger technology will allow the carbon market to scale efficiently to meet global ambitions of Net Zero.

ACX was recognized as the Best Carbon Exchange globally in Environmental Finance's prestigious Voluntary Carbon Market Rankings, the largest and most closely watched survey of the world's Voluntary Carbon Market, for two consecutive years (2021, 2022). ACX was also named as the "Best Solution in Energy Trading" by Wired UK and Publicis Sapient at their Global EnergyTech Awards, which spotlighted the companies that are "Winning the Race to Reinvent Energy".

For more information or to trade carbon, please reach out to info@AirCarbon.co or visit www.aircarbon.co. 

View original content:https://www.prnewswire.com/news-releases/stonex-and-acx-to-collaborate-to-create-us-digital-carbon-marketplace-301778210.html

SOURCE AirCarbon Exchange; StoneX

FAQ

What is the significance of the StoneX and ACX agreement?

The agreement establishes a digital carbon marketplace in the U.S., enhancing liquidity and transparency in carbon trading.

How will StoneX utilize ACX's technology?

StoneX will use ACX's technology for order matching and clearing of carbon trades in the new marketplace.

Who are the primary beneficiaries of the new digital carbon marketplace?

The marketplace will primarily serve project developers, sellers, end-buyers, and traders of carbon credits.

What date was the StoneX and ACX agreement announced?

The agreement was announced on March 22, 2023.

What is the stock symbol for StoneX?

The stock symbol for StoneX is SNEX.