Trade Exchange Network (TEN), a Dublin-based internet
exchange that offers a broad range of sports, weather,
political and economic contracts, has said it is preparing to
launch a new exchange for institutional customers by the third
TEN, which currently offers binary options for retail
traders on Tradesports.com and Intrade.com, said it would open
an exempt exchange for institutional and professional traders
called Intrade Board of Trade by September. As an exempt board
of trade for qualified members, it will operate with less CFTC
oversight than traditional futures exchanges.
Unlike the two current exchanges that TEN operates, the new
contracts would be much larger in size than the typical $10
contracts now offered on TradeSports and Intrade.
TEN has narrowed its search for a clearinghouse to handle
transactions for the new exchange and planned to make a
selection soon. It also planned to use market makers to provide
liquidity and two-sided markets and would increase the speed of
the platform 100-fold from its current capacity of 1,000
messages per second in order to handle high velocity
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