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Canadian Halal Investor.

Screened October 1, 2026 · TSX: ABXX · Q2 2026 interim filings

FAIL

Is Abaxx Technologies Inc. (ABXX) halal?

Abaxx Technologies Inc. (TSX: ABXX) is a financial software and market-infrastructure company that owns the Abaxx Commodity Exchange and Clearinghouse in Singapore. This screener gives it a FAIL. The business gate fails: Abaxx's core business is operating a commodity futures exchange and clearinghouse — conventional financial infrastructure whose gross fee income comes from derivatives trading, and futures contracts are widely considered non-compliant instruments (gharar, deferred settlement). The financial gates both clear: interest-bearing debt of C$24.0M is ~3.9% of a ~C$609M market cap (passes), and cash plus securities of ~C$110.3M are ~18.1% of market cap (passes). The ~5% non-compliant-income gate cannot be computed in its standard form — H1 2026 revenue was negative (-C$5,510) after liquidity-related credits were deducted from gross fees under IFRS 15, while investment and interest income was C$191,617. Data from Q2 2026 interim filings, screened October 1, 2026.

The two-gate Shariah screen

Every screener on this site runs the same two gates: first, the business must be halal (no conventional insurance, banking, alcohol, gambling, weapons manufacturing, and the like); second, the financial ratios must clear (debt under roughly 33% of market cap, non-compliant income under roughly 5%).

Gate one: the business — fails

Abaxx describes itself as "a financial software and market infrastructure company" and is the majority shareholder of Abaxx Singapore Pte. Ltd., the owner of the Abaxx Commodity Exchange and Clearinghouse (individually "Abaxx Exchange" and "Abaxx Clearing") — a Monetary Authority of Singapore-licensed Recognized Market Operator and Approved Clearing House. As of Q2 2026 the exchange listed 18 centrally cleared futures contracts across LNG, carbon, battery materials, precious metals and gold kilobars (including the Gold Singapore kilobar futures that won "Best Innovation" at the 2026 FOW Asia Pacific Awards), and the company reported gross transaction and clearing fees of $5,912,012 in the first half of 2026. Alongside the exchange, Abaxx operates the Abaxx Spot physical gold pool, the MarketOS™/ID++ digital infrastructure business, and holds a ~20% associate stake in Base Carbon (a carbon-credit development firm, from which it accrues a 2.5% software royalty — $39,774 in H1 2026). Its common shares traded on Cboe Canada (NEO) from December 2020 and moved to the TSX on May 21, 2026, trading under ABXX (also OTCQX: ABXXF). The dominant scholarly position holds futures contracts to be non-compliant (gharar, speculation, deferred settlement), and operating the venue that exists to facilitate derivatives trading is a conventional financial-services business — the category AAOIFI-style screens exclude. The company's revenue model is fee income from that venue. The business gate therefore fails.

Gate two: the ratios — debt and cash pass; income gate not computable

Both computable financial gates clear with margin; the income gate is not computable because reported revenue is negative. But the business gate fails, so the overall result is FAIL.

What other screeners say

The bottom line

This screener gives Abaxx Technologies Inc. (TSX: ABXX) a FAIL. The business gate fails: Abaxx is a financial-market-infrastructure company whose core business is operating a commodity futures exchange and clearinghouse — conventional financial infrastructure built around derivatives markets, whose gross fee income ($5.9M in H1 2026) comes from futures trading. Interest-bearing debt is C$24.0M (~3.9% of a ~C$609M market cap) and cash plus securities are ~C$110.3M (~18.1% of market cap) — both clear the ~33% ceilings. The ~5% income gate cannot be computed in its standard form because H1 2026 revenue was negative (-C$5,510). Treat this as a flag to consult a qualified scholar; re-screen quarterly after earnings. Snapshot dated October 1, 2026.

Sources

Related screeners

Frequently asked questions

Is Abaxx Technologies Inc. (ABXX) halal?

Our screener gives Abaxx Technologies Inc. (TSX: ABXX) a FAIL screening result. Although its debt (about 3.9% of market cap) and cash (about 18.1% of market cap) clear the usual AAOIFI-style ceilings, the business gate fails: Abaxx is a financial-market-infrastructure company whose core business is operating a commodity futures exchange and clearinghouse, and whose gross fee income comes from derivatives trading. Futures contracts are widely considered non-compliant instruments because of gharar and deferred settlement, and exchange/clearing operations are conventional financial services. Consult a qualified scholar.

Why does Abaxx fail the business gate?

Abaxx describes itself as “a financial software and market infrastructure company” and is the majority shareholder of Abaxx Singapore, the owner of the Abaxx Commodity Exchange and Clearinghouse — a Monetary Authority of Singapore-licensed Recognized Market Operator and Approved Clearing House. The exchange lists centrally cleared futures in LNG, carbon, battery materials, precious metals and gold kilobars (18 contracts as of Q2 2026), and the company’s gross transaction and clearing fees were $5,912,012 in the first half of 2026. The dominant scholarly position holds futures contracts to be non-compliant (gharar, speculation, deferred settlement), and operating the venue that exists to facilitate derivatives trading is a conventional financial-services business — the category AAOIFI-style screens exclude. The company also carries $24.0M of secured, interest-bearing convertible debentures (note 11), with $2.6M of interest and accretion expense in H1 2026.

What are Abaxx’s debt and cash ratios?

Debt passes: interest-bearing debt is the $24,011,588 of secured convertible debentures (June 30, 2026 balance sheet, note 11) — about 3.9% of a ~C$609M market cap (38,789,168 shares × C$15.70, October 1, 2026), well under the ~33% ceiling. Cash passes: cash and equivalents of $95,074,348 plus short-term investments of $372,651 plus investments at fair value of $14,870,339 total ~$110.3M — about 18.1% of market cap, under the ~33% ceiling. The income gate is not computable in its standard form: reported revenue was -$5,510 in H1 2026 (gross fees of $5,912,012 were more than offset by $5,917,522 of liquidity-related credits deducted under IFRS 15), while investment and interest income was $191,617.

What does Abaxx do, and where is it listed?

Abaxx Technologies Inc. builds financial software and commodity-market infrastructure: it is the majority shareholder of Abaxx Singapore, owner of the Abaxx Commodity Exchange and Clearinghouse, plus the Abaxx Spot physical gold pool, MarketOS/ID++ digital infrastructure, and a ~20% associate stake in Base Carbon. Its shares traded on Cboe Canada (NEO) from December 2020 and moved to the TSX on May 21, 2026, trading under ABXX (also OTCQX: ABXXF). Shariah concerns: the exchange/clearinghouse is conventional financial infrastructure built around futures (derivatives) markets; the company carries interest-bearing convertible debt; and investment and interest income of $191,617 in H1 2026 sits alongside reported revenue of -$5,510. The business gate therefore fails.

What do Zoya, Musaffa and ShariaPortfolio say about Abaxx?

As of October 1, 2026: Zoya’s screening data is app-gated and we found no public ABXX/ABXXF page, so Zoya coverage cannot be confirmed or denied; web search returns zero Musaffa results for ABXX/Abaxx, so Musaffa does not appear to cover it; ShariaPortfolio has no public per-stock screener database. Our screener reports its own figure-by-figure analysis above.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).