UDX, the exchange recently acquired by Underdog, filed a self-certification with the U.S. Commodity Futures Trading Commission on July 15 for seven sports event contract templates. The filing sets a target for the first contracts to go live by July 17, though it does not confirm that public trading has already started. The certification covers three baseball templates and three basketball templates tied to winner, margin of victory, and total points markets. A seventh, broader template would allow markets based on whether a specified athlete, team, or other entity achieves an outcome within a defined period. The contracts carry a notional value of $1, with trading prices ranging from $0.001 to $0.999. UDX said trading would generally remain open outside announced maintenance windows and that at least one market maker would provide liquidity. Underdog acquired Aristotle Exchange DCM and its affiliated derivatives clearing organization in March. Before that deal, the company mainly acted as an intermediary, giving users access to contracts listed on other federally registered venues.
UDX, the exchange recently acquired by Underdog, submitted a self-certification to the U.S. Commodity Futures Trading Commission on July 15 for seven sports event contract templates. The filing says the first contracts are scheduled to launch by July 17 at the latest, but it does not confirm that public trading has already begun.
The certification covers three baseball templates and three basketball templates. Those contracts span markets tied to game winners, margin of victory, and total points. A seventh template is broader in scope and would allow markets based on whether a specified athlete, team, or other entity achieves an outcome during a defined period.
The filing states that the contracts have a notional value of $1, with trading prices ranging from $0.001 to $0.999. UDX said trading would generally stay open outside announced maintenance windows, and that at least one market maker would provide liquidity.
Underdog acquired Aristotle Exchange DCM and its affiliated derivatives clearing organization in March. Before the acquisition, Underdog primarily operated as an intermediary, giving users access to contracts listed on other federally registered trading venues.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
