ForecastEx, LLC Announces New Clearing Member

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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/forecastex-llc-announces-new-clearing-member-302289004.html

SOURCE ForecastEx LLC