Allocated Bullion Exchange

What Allocated Bullion Exchange does

Allocated Bullion Exchange (ABX) is an Australian-headquartered, ASIC-regulated institutional exchange that operates an electronic marketplace for the trading of allocated physical precious metals — gold, silver, and platinum — across 11 global trading hubs and 7 vaulting, storage, and delivery locations. Founded in 2011 (originally as Bullion Capital) and fully launched under the ABX brand in 2016, the company connects miners, refiners, brokers, dealers, banks, institutional investors, central banks, and proprietary trading firms through a three-tier membership structure (Full Members, Associate Members, and Proprietary Trading Members) and through downstream channels including RIA/broker-dealer custodians, SMSF/SDIRA/SIPP administrators, and FX/commodity brokers.

The core technology is the proprietary MetalDesk web-based trading platform, which combines a central limit order book, real-time pricing across 326 products, vault content management, low-latency execution, multi-language support, and clearing/settlement functionality in which ABX operates as central counterparty (CCP). MetalDesk is offered as a fully configurable white-label solution, and the platform also supports the Holding Identification Number (HIN) system for client-level title documentation and Electronic Vault Warrants (eVW) for collateralization across other asset classes. Vaulting is delivered in partnership with Loomis International and Armaguard, with independent inspection and audit by Inspectorate and BDO.

Revenue is generated through five streams: trade execution fees (volume-tiered), storage fees (calculated daily, billed monthly in arrears), white-label platform and management fees, collateral management fees on eVW-pledged bullion, and membership fees that vary by monthly trade volume and metal stored. Pricing is not publicly disclosed and is negotiated bilaterally with members. The company maintains offices in Brisbane, Shanghai, Hong Kong, Bangkok, Limassol (Cyprus), and New York, and is privately held with founder/CEO Thomas Coughlin and CFO Michael Coughlin in senior leadership, alongside exchange-industry veteran Eric Maine as Senior Managing Director of Corporate Strategy and Product Development.

Name

Allocated Bullion Exchange

Legal name

Australian Bullion Exchange Limited

Website

https://abx.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

Allocated Bullion Exchange is an ASIC-regulated, Australian-headquartered institutional electronic exchange for allocated physical precious metals (gold, silver, platinum), connecting miners, refiners, brokers, banks, and institutional investors via its proprietary MetalDesk platform across 11 global trading hubs.

Ownership category

akta.pro rank

Headquarters

HQ city

Brisbane

HQ country

Australia

HQ region

Oceania

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Trade Execution Fees: Fees charged on trade execution. Consideration for trades credited to cash balance minus trade execution fee upon sale. Trade execution fees vary by monthly trade volume.
2. Storage Fees: Storage fees calculated daily and charged monthly in arrears at agreed rates. Only charged on bullion held at 5:00pm local time at each trading hub. New revenue stream for members offering MetalDesk to clients.
3. White Label Platform Fees: Members offering MetalDesk white label to clients generate trade-based fees and ongoing management-style storage fees.
4. Collateral Management Fees: Ongoing collateralization fees charged when bullion is used as margin collateral for financing or trading other asset classes through Electronic Vault Warrants.
5. Membership Fees: Fees charged to Members vary by monthly trade volume and by metal stored at the exchange. Proprietary Trading Members admitted at sole discretion based on holdings and trading activity.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

ABX is an institutional electronic exchange for trading allocated physical precious metals (gold, silver, platinum). Its MetalDesk platform enables wholesale participants to trade, settle, clear, store, and distribute physical bullion across 11 global trading hubs, supported by white-label distribution, Electronic Vault Warrants for collateralization, and membership-based access for brokers, dealers, banks, miners, refiners, and institutional investors.

Product overview

Allocated Bullion Exchange (ABX) operates a platform-plus-modules architecture built around its core MetalDesk trading platform. MetalDesk serves as the central interface connecting buyers and sellers of physical precious metals across 11 global trading hubs. The ecosystem includes supporting modules: ABX White Label Solutions (for downstream client distribution), Electronic Vault Warrants (eVW for collateralization), Storage & Logistics (vaulting with Armaguard/Loomis), and Clearing & Settlement (central counterparty services). All products are traded in allocated physical form (gold, silver, platinum) with full legal title remaining with the investor.

Differentiator

Problem solved

Functional benefit

Brands

• MetalDesk: ABX's market-leading, web-based trading platform specifically designed for the trading and inventory management of physical precious metals.
• Electronic Vault Warrants (eVW)

Products and services

• MetalDesk Trading Platform Market-leading web-based trading platform specifically designed for the trading and inventory management of physical precious metals. Brings price discovery from 11 global trading hubs into one online trading environment, offering increased liquidity, transparent pricing, a central limit order book covering 326 products, low-latency execution, multi-language support, market depth, vault content management, private-client account management, and finance management. Used by Full Members, Associate Members, Proprietary Trading Members, and white-label partners.
• MetalDesk White Label Solutions Plug-and-play solution allowing physical bullion dealers, asset managers, and online brokers to obtain physical bullion liquidity and offer it to their clients, either by trading on their behalf or distributing the platform directly under their own brand. Fully customizable branding, marketing collateral (brochures, platform user guides, product specification documents), and ongoing ABX IT and operational support with front & back office integration are included.
• Electronic Vault Warrants (eVW) Electronic document of title enabling the holder to monetize the value of bullion stored in ABX vaults. Each eVW represents specific bullion bars identified by bar number, weight, fineness, and refiner; permits physical precious metals to be used as good collateral for trading other asset classes offered by Full Members. Available through White Label Solution for eligible gold and silver bars.
• Storage & Logistics Comprehensive allocated bullion storage and inventory management across seven global vaulting locations, delivered in partnership with Armaguard and Loomis International. Includes the Holding Identification Number (HIN) system that assigns each investor a sub-account and ensures legal title to bullion is held by the client and does not appear on ABX's or the vault provider's balance sheet.
• Clearing & Settlement (CCP Service) Central Counterparty (CCP) clearing and settlement service for all trades executed on ABX, delivering financial and operational efficiencies with immediate transfer of bullion title upon execution and remittance of funds at t+1 depending on product. Designed for Full Members, Associate Members, and Proprietary Trading Members trading across all 11 hubs.
• ABX Exchange Membership (Full, Associate, Proprietary Trading) Tiered membership to the ABX exchange with three categories: Full Members (large wholesale bullion brokers, dealers, banks, mining producers, refiners entitled to trade all products in all hubs and to sponsor Associate Members); Associate Members (stockbrokers, wealth managers, accountancy and insurance brokers sponsored by Full Members to manage private clients); Proprietary Trading Members (high-volume hedge funds, sovereign wealth funds, ETFs, pension/super funds, central banks admitted at ABX's sole discretion based on holdings and trading activity). Membership fees vary by monthly trade volume and metal stored.

Quantifiable outcome

• Significant additional revenues for producers by selling at Offer price instead of Bid price through intermediaries
• +3 more outcomes

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Five partnerships are on record, tiered core.

• Loomis InternationalcoreOthersWorld leading secure logistics provider offering secure, efficient, and reliable bullion storage services with modern infrastructure, cutting-edge security systems, and comprehensive insurance facilities for global bullion storage.
• ArmaguardcoreOthersWorld leading secure logistics provider offering comprehensive insurance facilities and secure storage solutions for precious metals in the ABX Vault Network.
• InspectoratecoreOthersIndustry specialist providing inspection and audit services on all bullion stored in the ABX Vault Network, including weight reconciliation, visual checks for bar number and brand purity, and verification of bar number records.
• BDOcoreOthersIndustry specialist providing independent audit and inspection services on all bullion stored in the ABX Vault Network including random sample weight checks, calibration status checks for scales, and full reporting of findings.
• Good Delivery Refiners (LBMA Approved)coreTechnology or IntegrationABX maintains a list of approved Good Delivery refiners eligible to deposit bullion into the ABX vault network. Bullion must be delivered directly by a Good Delivery Refiner with refiner certificate.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Shanghai Gold Exchange: China's primary physical gold trading venue, operating a centralized trading, clearing, and delivery system for physical precious metals. Highly comparable as a physical bullion exchange with multi-tier membership and allocated delivery, though serves primarily the China market.
• BullionVault: Online allocated gold, silver, platinum, and palladium marketplace allowing retail and professional investors to trade allocated bullion in professional vaults. Closest direct comparable for the allocated-ownership digital bullion model, though at smaller scale and retail-tilted.
• Abaxx Exchange: Singapore-headquartered commodities and energy exchange offering electronic trading of physically delivered commodity contracts. Closest comparable operating model to ABX: vertically integrated exchange with clearing, membership tiers, and a focus on institutional physically delivered products.
• GoldMoney: Online platform for buying, selling, and storing allocated physical precious metals in vault networks, with multi-currency settlement. Comparable to ABX on the allocated-ownership and vault-network model, though focused more on retail/wealth clients than institutional wholesale flow.
• Dubai Gold & Commodities Exchange (DGCX): Middle East-based commodities exchange offering precious metals and other commodity derivatives with central clearing and global membership. Comparable as a regional institutional precious metals venue with electronic trading and clearing infrastructure.

Emerging players

• Vaulted: App-based platform for fractional ownership of allocated physical gold and silver held in vaults. Comparable model (allocated, fractional ownership via digital platform) but at much earlier stage and retail focus.

Broad incumbents

• Intercontinental Exchange (ICE): Operates global futures exchanges including precious metals contracts (e.g., gold and silver futures previously on ICE Futures U.S.). A broad incumbent in exchange-traded commodities with clearing, listing, and membership infrastructure that overlaps with ABX's role.
• CME Group (COMEX division): Operates COMEX, the world's largest precious metals futures and options market. While focused on derivatives rather than physical allocated bullion, it sets global precious metals price benchmarks and competes for institutional trading flow.

Regional players

• Perth Mint: Australian precious metals institution operating refinery, vaulting, and trading/dealer services for physical gold and silver. Regionally comparable as an integrated physical bullion operator with institutional services, though not an exchange venue.

Others

• London Bullion Market Association (LBMA): Industry body that sets the global LBMA Gold and Silver Price benchmarks and accredits Good Delivery refiners. Not a direct competitor, but the dominant institutional infrastructure and standards-setter against which any electronic allocated bullion exchange must compete for institutional flow.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/THE_ABX
• Facebookfacebook.com/AllocatedBullionExchange
• LinkedInlinkedin.com/company/abx

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Allocated Bullion Exchange