Rothera, a US-based event contract market regulated by the CFTC is set to build its institutional event contracts exchange and clearing platform, built by Adaptive’s Aeron Exchange Accelerator.
It launched after just five months and the platform is approaching a 10% share of US event contract market volume, with $3 billion contracts traded during the first two months of operations.
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Tom Chippas, chief executive, Rothera, said: “Time-to-market was critical for us. Launching in time for The World Cup was imperative and we had less than 5 months to build. We needed to move fast but did not want to compromise on the technical foundations, or accept the longer-term constraints that typically come with vendor technology.
“The Aeron Exchange Accelerator struck the balance, allowing us to launch quickly while assuring flexibility for our roadmap and ownership of our unique IP.”
Specifically, the platform allows Rothera to offer trading in swaps related to both emergent and planned world events – the Aeron architecture allows for thousands of concurrent contracts in a 24/7 environment.
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Matt Barrett, chief executive and co-founder at Adaptive, added: “Rothera is pioneering the next generation of regulated, institutional-grade event contract market infrastructure. They needed more than just a fast launch; they required a future-proof technology foundation capable of handling immense concurrent volumes 24/7, without sacrificing performance.
“The Aeron Exchange Accelerator was specifically designed for this exact paradigm shift, giving ambitious operators the institutional scaffolding they need to deploy rapidly, while ensuring they retain 100% of the proprietary IP that drives their true market value.”