Affiliate of Prediction Market Broker River Markets Completes CFTC Registration

TechFlow news, November 9: According to The Block, prediction market broker River Markets said its affiliate River Finance LLC has registered as a futures commission merchant (FCM) with the U.S. Commodity Futures Trading Commission (CFTC) and joined the National Futures Association (NFA), allowing it to hold client accounts and process client funds.

River Markets is building a prediction market prime brokerage platform for institutional traders, planning to let clients manage funds, positions, and risks across multiple exchanges and clearing firms through a single account, while supporting financing arrangements and approved over-the-counter trading.

The company, founded in May this year, said it has routed more than 250 million contracts for clients including hedge funds and proprietary trading firms, having previously completed an $8.5 million seed funding round.

Source: TechFlow