UDX Self-Certifies 7 Sports Event Contract Templates with CFTC

On July 15, UDX self-certified 7 sports event contract templates with the U.S. Commodity Futures Trading Commission (CFTC), planning to launch the first batch of contract trading by July 17 at the latest. The related certification includes 3 baseball and 3 basketball templates, covering markets for match winners, point spreads, and total points. The 7th contract allows for the creation of markets regarding whether specified athletes, teams, or other entities achieve results within a limited period. The nominal value of the contract is $1, with a trading price range from $0.001 to $0.999. UDX stated that trading will remain open outside of the announced maintenance window and will be supported by at least one market maker providing liquidity. Underdog acquired Aristotle Exchange DCM and its affiliated derivatives clearing organization in March, which previously primarily acted as an intermediary, providing users access to contracts listed on other federally registered trading venues.

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