UDX under Underdog self-certifies seven sports event contract templates with the CFTC
The certifications cover 3 baseball and 3 basketball templates, involving winner, winning margin, and total points markets. The seventh, broader contract allows markets to be created around whether specified athletes, teams, or other entities achieve results within a set period.
These contracts have a notional value of $1, with trading price ranges from $0.001 to $0.999. UDX stated that trading will usually remain open outside of announced maintenance windows and liquidity will be provided by at least one market maker.
Underdog acquired Aristotle Exchange DCM and its associated derivatives clearing organization in March. Prior to the acquisition, Underdog mainly acted as an intermediary, providing users access to contracts listed on other federally registered trading venues.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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