CHICAGO, Oct. 28,
2024 /PRNewswire/ -- ForecastEx, LLC
("ForecastEx"), the first and only CFTC Designated Contract Market
and Derivative Clearing Organization offering event contracts to
Futures Commission Merchants (FCMs) and their customers, is pleased
to announce the approval of a new Clearing Member, Robinhood
Derivatives, LLC.
ForecastEx offers FCMs and their customers the ability to hedge
against or express conviction on the outcome of key political,
economic and climate events using Forecast Contracts. For example,
a customer who believes that Kamala
Harris will win the 2024 US presidential election could
submit a bid for the "Yes" contract of the event pair titled
"Will Kamala Harris win the US
Presidential Election in 2024?". If Kamala
Harris is certified as the winner by the US Congress, then
the holder of that "Yes" contract will be paid $1.00 and the holder of the "No" contract,
$0. If the cost to purchase that
"Yes" contract was $0.37, then the
purchaser would earn $0.63 per
contract.
Forecast Contracts can be purchased through either Robinhood
Derivatives, LLC or Interactive Brokers, LLC and a complete list of
contracts offered may be found on the ForecastEx website.
Other FCMs interested in ForecastEx membership should contact
membership@forecastex.com.
About ForecastEx:
ForecastEx is a wholly owned
subsidiary of Interactive Brokers Group, Inc (Nasdaq: IBKR), whose
other subsidiaries include Interactive Brokers LLC (IB LLC) and IB
Global Investments LLC (IBGI LLC). IB LLC, an FCM and broker, is a
ForecastEx Member approved to offer Forecast Contracts to its
customers as well as eligible customers of other non-U.S. broker
affiliates on whose behalf it provides execution and clearing
services. IBGI LLC, an Affiliated Customer of IB LLC, will operate
as a liquidity provider, maintaining Bids on both the "Yes" and the
"No" of various Event Markets. Pursuant to ForecastEx Rule 405(b),
IBGI LLC bids are always filled last by ForecastEx if equal in
price to another customer's bid.
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SOURCE ForecastEx LLC
