Allocated Bullion Solutions (ABS), an institutional electronic network for bullion trading, has been selected by the Futures and Industry Association (FIA) to showcase at the FIA Expo Innovators Pavilion. Innovators Pavilion is a new addition at the annual FIA Futures and Options Expo in Chicago, now in its 31st year of bringing together derivatives industry professionals worldwide. The Pavilion will be an opportunity for 20 companies who champion forward-thinking solutions for market participants.
 
ABS was launched in 2013 by industry veterans, Seamus Donoghue and Allen Vincent. The firm is based in Singapore and is dedicated to providing solutions for the institutional physical precious metals market. Among other trading processes, institutional bullion trading has remained largely manual. In order to efficiently address costs, operational risks, and scale, there is a need for migrating to an electronic trading infrastructure.
 
ABS Chief Operating Officer, Allen Vincent, who is also one of the speakers at the upcoming FIA Futures & Options Expo said: “We are honored to be included in this year’s FIA’s Innovation Hall as it is a great opportunity to share our vision of automating the market with other key minds in the industry. The launch of ABS MIDAS was a long time coming, with many hours spent speaking with bullion industry participants on their frustrations of a market lacking technological innovation.”
 
ABS MIDAS is an innovative global electronic trading network for physical precious metals. The platform enables institutional participants to efficiently scale their trading and distribution with current and new clients. Buyers and sellers can connect in a transparent and compliant framework, while reducing transaction costs. The solution can also be white labeled to enable firms to create their own privately branded client networks.
 
Rob Creamer, FIA board member and chairman of FIA Principal Traders Group, said, “We’re thrilled that the FIA Expo Innovators Pavilion attracted so many exceptional, forward-thinking applicants. The 20 companies chosen as Innovators represent an exciting range of industry services.” The Chairman of the Innovators Pavilion selection committee also said that, “FIA is proud to offer them a platform to showcase new ideas, forge connections, and drive investment in innovation in the cleared derivatives industry.”