Press release

XCHG Appoints Robert Shults Head of North American Markets

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Xpansiv CBL Holding Group (XCHG), the world’s first data-driven commodity exchange, today announced the addition of Robert Shults as the new Head of North America Markets. Shults’ role will focus on business expansion for the company’s exchange-traded environmental products, while also driving commercial adoption of new Digital Feedstock™ products—XCHG’s proprietary asset class.

With more than 35 years of leadership and commodities experience, Shults joins XCHG after serving as Managing Director of TP ICAP Americas Holdings, Inc., where he was responsible for daily operations and business development of Axiom’s wholesale physical and financial brokerage services. Robert was a founding partner of Axiom Commodity Group, LLC, the holding company of Atlas Commodity Markets, Atlas Petroleum Markets, Atlas Physical Grains, and Axiom Refined Products—which were sold to TP ICAP in November 2018. Prior to founding Axiom, he served as Managing Director of Commercial Services and a member of the Executive Management Committee for APX Inc., where he helped build market infrastructure solutions for energy and environmental markets. Additionally, he served on the Board of Directors of the Environmental Markets Association.

“Robert Shults is a seasoned leader who brings outstanding intuition and extensive trading, origination, regulatory, and risk-management expertise,” said XCHG CEO Joe Madden. “We are now primed to scale rapidly. With the formation of XCHG, Shults will play an integral role in building our global brand while also expanding the reach of Digital Feedstock.”

“Commodities markets have evolved over the years as the availability of resources have adapted to our ever-changing world,” said Shults. “The demand for commodity data is rising faster than traditional markets can adapt. XCHG unlocks that data and provides markets with unprecedented insights and opportunities. I’m thrilled at the opportunity to join this team.”

The addition of Shults as the Head of North America Markets comes on the heels of rapid growth for XCHG. In August, CBL Markets and Xpansiv announced the completion of their merger to form XCHG, which brings together a data refinery and next-generation platform with the leading commodity spot exchange. XCHG creates a marketplace powered by Digital Feedstock, a new data format that combines real-time production monitoring, standards, data science, cryptography, and distributed-ledger technologies to refine, characterize, and convert data into digital assets—Intelligent Commodities—that can be transacted without risk to counterparties.

About Xpansiv CBL Holding Group (XCHG)

XCHG is a first-of-its-kind commodity exchange built for a new asset class: data. XCHG ingests data, sourced from each commodity’s lifecycle, and converts it into Intelligent Commodities—digital assets that enable transactions based on comprehensive information.

About Xpansiv

Xpansiv transforms primary production data into Digital Feedstock, a new data format that delivers secure, comprehensive information to global markets. For the first time, commodities can be traded in a digital format that includes a deeper accounting of their true cost and value.

About CBL Markets

CBL Markets provides access to the world’s energy and environmental commodity markets, facilitating the secure and seamless trading of commodities like carbon, renewable energy, water, and gas.