The CME Group and Gaming Company Fanduel derivatives has announced a new partnership, causing an event platform.
Based on the history of the CME group in Fanduel’s financial and clientele in the playing space, the platform will offer entirely funded contracts based on events with a defined risk. Customers will be able to bet on a variety of markets on simple bets “yes” or “no”, from $ 1 so low.
Products should be launched later this year, with market-based benchmarks such as S&P 500 and NASDAQ-100, oil and gas, gold, cryptocurrencies and other key economic indicators, such as GDP and IPC. There is also a promise of new markets to be determined in the coming months, with more to come after the launch as well.
“Individual investors are increasingly sophisticated and continuously pursues new financial opportunities,” said Terry Duffy, president of the CME group and head of management. “To respond to this request, we have created this innovative partnership, which will operate an unprotected FCM. Together, our events based on events will use the growing public interest in markets, and we will provide education to attract a new generation of potential non -active traders in derivatives today. ”
Fanduel in search of partnerships throughout the play space
To bring the platform to customers, the two companies will create a new joint venture, operating a merchant of the term contract commission (FCM) which will facilitate access to these contracts based on events via Fanduel, which has recently been sold to the Giant of the Flutter game.
“The partnership with CME Group will unlock our ability to provide even newer and engaging products to Fanduel’s fast growing customers,” said Amy Howe, CEO of Fanduel Group. “We believe that there is potentially a large audience for markets based on commercial events and we want to provide a platform that allows our customers to engage in this activity.
“We are delighted to associate ourselves with CME Group to design new engaging products, combining innovation with the best regulatory compliance and consumer protection.”
This would not be the only partnership that Fanduel will continue, with new whirlwinds on a potential partnership with the predictions of the Kalshi market.
Star image: CME Group / Fanduel
The CME group and the Fanduel partner for the event contract platform appeared first on Readwrite.
