What regulatory approvals are still pending for the exchange and clearinghouse, and what is the risk of delays?

Regulatory picture – Abaxx’s Q2 2025 update notes that the Abaxx Commodity Exchange still needs final approval from the Ontario Securities Commission (OSC) and the Canadian Securities Administrators (CSA), while the Abaxx Clearinghouse is awaiting its licence from the Ontario Securities Commission’s clearing‑house regulator and, on the Singapore side, a “recognition” from the Monetary Authority of Singapore (MAS). Both bodies have to sign‑off on the exchange’s market‑‑rules framework and the clearinghouse’s risk‑management and margin‑setting protocols before the platforms can go live.

Risk of delays – Historically, OSC/CSA and MAS reviews can take anywhere from 3 to 9 months, especially when new commodity‑product structures or cross‑border clearing arrangements are involved. Any hold‑up in the OSC or MAS sign‑off would push the commercial‑launch timetable back, compressing the revenue runway that Abaxx has been counting on for FY 2025. A delay also raises the probability of a “regulatory‑risk premium” being baked into the stock, which could trigger a 10‑15 % downside on the next trading session as investors re‑price the uncertainty. Conversely, a clean, on‑time approval would likely act as a short‑cover catalyst, lifting the share price on the expectation of a new revenue stream from exchange fees and clearing margins.

Trading implication – Given the pending OSC/CSA and MAS approvals, the stock is currently biased toward a near‑term correction risk. If you are already long, consider tightening stops around the 5‑%‑10 % downside level until a regulatory green‑light is confirmed. For the risk‑averse, a short‑position or a put‑spread that expires just before the anticipated approval window (late Q3 2025) can capture the upside of a potential delay, while still allowing you to roll back in if the approvals come through on schedule. Keep an eye on any regulatory filings or press releases from the OSC, CSA, or MAS in the next 4‑6 weeks for the first concrete signal of timing.