Sporttrade to Leverage Nasdaq Surveillance Technology to Bolster Market Integrity of Sports Betting Platform
14 Settembre 2021 - 2:30PM
Nasdaq (Nasdaq: NDAQ) and Sporttrade, a
Philadelphia-based fintech, sports betting company, announced today
that Sporttrade will leverage Nasdaq technology for surveillance of
its sports betting and trading platform. Founded in 2018,
Sporttrade was built to advance the sports betting industry by
utilizing exchange technology and processes to enhance and
democratize the traditional betting experience. Sporttrade’s open
trading marketplace will allow participants to trade sporting
events the same way they trade stocks, with tighter spreads, more
liquidity, and unique features like "always on" in-play trading,
and the ability to trade in and out of bets at any time.
In utilizing Nasdaq’s SaaS-deployed market surveillance
technology, Sporttrade will be able to monitor trading patterns and
protect its user base by identifying irregularities and unusual
trading behavior. Through interactive visualization, complex data
can be distilled into a single snapshot and provide a full view of
the order book, enabling Sporttrade to transparently and
continuously collaborate with regulators.
“Today marks another important step in fulfilling our mission to
elevate the sports betting industry with proven capital markets
technology that will monitor our platform and protect our user
base,” said Alex Kane, Founder and CEO of Sporttrade. “Adopting
Nasdaq’s industry-leading market surveillance technology is
essential in Sporttrade’s promise to our participants – to advance
fair, transparent, and efficient open sports betting
markets.”
“Through this agreement, Sporttrade will apply exchange-grade
technology in their efforts to uphold integrity in the rapidly
evolving sports betting industry,” said Tony Sio, Head of Market
Regulatory Technology, Nasdaq. “Our expertise in developing and
delivering surveillance technology for exchanges, regulators and
new types of marketplaces outside of the traditional capital
markets will support and advance Sporttrade’s efforts in building a
fair, transparent and safe marketplace with robust surveillance
processes.”
“We are encouraged by Sporttrade’s commitment to corporate
social responsibility, leading to more informed customers,” said
Keith Whyte, Executive Director of the National Council on Problem
Gambling. “By providing customers with win/loss visualizations,
promoting limits and leveraging Nasdaq's market surveillance
technology, Sporttrade is taking responsible gaming seriously and
putting it at the forefront of its mission.”
Nasdaq’s end-to-end market technology powers more than 2,300
companies in 50 countries, spanning the world’s financial industry,
including capital markets infrastructure operators, market
participants, banks, and regulators.
Sporttrade is due to launch its native trading app beginning in
New Jersey in Q4 of 2021, with additional states to follow in 2022
and beyond.About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the
capital markets and other industries. Our diverse offering of data,
analytics, software and services enables clients to optimize and
execute their business vision with confidence. To learn more about
the company, technology solutions and career opportunities, visit
us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.
About Sporttrade Inc.Sporttrade is the first
regulated sports betting exchange in U.S. history. Sporttrade is
led by an accomplished team from sports betting and capital markets
backgrounds. The company is based in the Philadelphia, Pennsylvania
area. For more information visit us at http://sporttrade.com/ and
follow us on Twitter @sporttrade_app, and Instagram
sporttrade_app.
Media Contacts:
NasdaqRyan WellsMobile: +1 646 648
3887ryan.wells@nasdaq.com Yan-yan TongMobile: +1 240 721 80
66yan-yan.tong@nasdaq.com
Sporttrademedia@getsporttrade.com
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