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To print this article, all you need is to be registered or login on Mondaq.com. CFTC Commissioner Dan M. Berkovitz argued that futures contracts tied to the outcome of sporting events should be permitted to be traded on a designated contract market ( DCM ) if it can be demonstrated that there is an economic purpose and the contract provides impartial access to the public. Mr. Berkovitz s statements came following the recent withdrawal by Eris Exchange ( ErisX ) of a proposal to list futures contracts tied to the outcome of NFL games. Mr. Berkovitz said that the proposal was deficient because (i) there was insufficient evidence ....
A Proposal to the CFTC for a New Way for "Bets" to Be Hedged | Faegre Drinker Biddle & Reath LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
CFTC Announces Review Of RSBIX NFL Futures Contracts Proposed By Eris Exchange, LLC Date 23/12/2020 The Commodity Futures Trading Commission today announced it has initiated a review, pursuant to CFTC Regulation 40.11(c), of RSBIX NFL futures contracts self-certified by Eris Exchange, LLC (ErisX) on December 15, 2020. ErisX self-certified three RSBIX NFL futures contracts: one based on the moneyline; the second on the point spread; and the third on total points for individual NFL games. Beginning today, the CFTC has 90 days or longer as agreed to or requested by ErisX to review and make a determination with respect to the submissions. The review follows a Commission determination that the RSBIX NFL futures contracts “may involve, relate to, or reference” an activity enumerated in Regulation 40.11(a)(1), including but not limited to “gaming, or an activity that is unlawful under any State or Federal law.” Accordingly, and pursuant to Regulation 40.11( ....