UDX Self-Certifies 7 Sports Event Contract Templates to CFTC on July 15

According to the filing, UDX, an exchange recently acquired by Underdog, self-certified 7 sports event contract templates to the U.S. Commodity Futures Trading Commission (CFTC) on July 15, with plans to launch initial contracts by July 17. The templates comprise 3 baseball and 3 basketball contract designs, covering winner, spread, and total score markets, plus 1 generalized contract allowing markets on designated athletes, teams, or entities.

Contract notional values are set at $1, with trading prices ranging from $0.001 to $0.999. UDX stated that trading will remain open outside announced maintenance windows and will be supported by at least one market maker.