ABC Refinery Awarded CME Accreditation in USA
ABC Refinery is proud to announce it has received accreditation from the CME Group for its premier gold product, the COMEX “GC” gold futures contract, effective 05 June 2020. The accreditation sees ABC Refinery bars added to the COMEX good delivery list of brands used to physically settle against the GC gold futures contract in New York.
The addition of ABC Refinery to the CME Group’s listing of good delivery brands for the GC gold futures contract offers traders and investors all over the world access to the ABC Bullion brand via the COMEX exchange.
ABC Refinery is the refining division of the Pallion Group, Australasia’s largest independent precious metal services group of companies and have been involved in the refining and processing of precious metals in Australia since 1951. ABC Refinery currently refines over 25% of all primary gold refined in Australia, continuing to gain market share through its world leading environmentally friendly “green gold” refining standard, with gold mining companies enjoying the benefits of refining with a modern, independent and highly efficient refinery. Australia is the second largest producer of gold in the world and this is a substantial increase in the physical gold supply chain for COMEX providing a significant benefit to the Australian gold industry and economy.
Inclusion in this prestigious good delivery list is a testament to ABC Refinery’s ability to refine and manufacture gold products to a world-class standard and meet the exacting technical standards of the CME Group.
This, the latest in a long line of accreditations, completes ABC Refinery’s accreditation status with the three major gold trading centres, alongside the London Bullion Market Association (LBMA) and Shanghai Gold Exchange (SGE).
ABC Refinery is the exclusive manufacturer of ABC Bullion branded products and the COMEX gold futures accreditation further solidifies ABC Refinery as a world class producer of gold bullion and a refiner of choice.
“The accreditation marks a significant achievement, not just for ABC Refinery but for the wider Australian gold industry” said ABC Refinery Managing Director, Phillip Cochineas.
“It ensures ABC Bullion bars will continue to be a preferred brand in the global marketplace and remain sought after for years to come,” said Mr Cochineas. “It is a positive reflection on the entire Pallion family, which has enabled us to achieve this high international standard and furthers our support of the Australian gold industry by increasing demand for Australian gold.”
COMEX gold futures represent the world’s leading futures contract for gold prices and trading. The contract offers superior liquidity than any other gold market, trading the equivalent of nearly 27 million ounces daily. The gold futures trade virtually around the clock, 23 hours per day, enabling the world to access the market at times that work best for their schedules in whatever time zone they may be situated.
About ABC Refinery:
ABC Refinery is Australasia’s pre-eminent independent precious metal assayer, refiner and mint. ABC Refinery is the exclusive manufacturer of ABC Bullion, one of the cornerstones of the Australian gold trading system. In addition to its assaying and refining services, ABC Refinery operates Australia’s largest private minting facility complementing fabrication, finance and secure storage services.
ABC Refinery is the refining division of Pallion, Australasia’s largest independent precious metal services group of companies. Pallion has been involved in the refining and processing of precious metals in Australia since 1951. Today, ABC Refinery is the benchmark in Australian precious metal processing.
Pallion brings together a group of leading precious metal brands, led by specialists in their field of expertise to form the premier precious metal services group in Australasia offering the following services:
- Refining & Minting
- Casting & Jewellery
- Fabricated Metals
About CME Group:
CME Group. is a global markets company made up of four major financial exchanges:
- Chicago Mercantile Exchange CME
- Chicago Board of Trade CBOT
- New York Mercantile Exchange NYMEX
- The Commodity Exchange COMEX
It is the world's largest financial derivatives exchange group and trades in numerous global asset classes ranging from agricultural, energy and metal products through to currencies, energy, interest rates and stock indexes
CME Group offers futures contracts and options on futures using its CME Globex trading platforms, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates a central counterparty clearing provider, CME Clearing.