Sporttrade, a Philadelphia-based financial technology company, today announced submission of Designated Contract Market (“DCM”) and Derivatives Clearing Organization (“DCO”) applications with the Commodities Futures Trading Commission (“CFTC”). 

“Today marks the opening of an incredibly exciting chapter of the Sporttrade journey.” said Alex Kane, Founder and CEO. “The CFTC’s market-based regulatory framework enables Sporttrade to provide market participants an elevated level of efficiency, transparency, and consumer protection relative to what we’ve been able to offer to date.”

Since 2022, Sporttrade has been regulated as a state-licensed sports betting operator in five states; New Jersey, Colorado, Iowa, Arizona, and Virginia. Customers on the existing Sporttrade platform have come to expect quality service and tight spreads on an award winning platform.

`“We had originally our technology under the assumption that the sports trading vertical would follow the trajectory of most other electronic markets, one towards efficiency and transparency powered by intermediation and institutional participation.” noted Kane. “Federal registration will thus allow us to finally unlock the full potential of our natively-built exchange, clearing, and broker technology in our pursuit to always put the customer first.”

About Sporttrade Inc. 
Sporttrade combines proprietary technology, thoughtful design, and electronic markets expertise to offer a more equitable, responsible, and accessible marketplace for market participants. Sporttrade is led by an accomplished team from sports, markets, and compliance backgrounds. The company is based in the Philadelphia, Pennsylvania area. For more information visit us at sporttrade.com and follow us on Twitter @sporttrade_app, and Instagram sporttrade_app.

Sporttrade media contact:
[email protected]
sporttrade.com