Plus500 appointed as clearing partner for CME and FanDuel platform

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Plus500 Ltd on Monday said it has been appointed as the clearing partner for the CME and FanDuel’s new event-based contracts platform.

The Haifa, Israel-based trading platform provider said it will provide brokerage-execution and clearing services for FanDuel Prediction Markets, a non-clearing futures commission merchant and joint venture between CME Group and FanDuel, part of New-York betting operator, Flutter Entertainment PLC.

Shares in Plus500 rose 3.6% to 3,288.00 pence each in London on Monday morning. Flutter Entertainment closed up 4.4% at $208.69 in New York on Friday. It was down 0.4% at 15,680.00p on Monday in London.

‘Being chosen to clear for this groundbreaking initiative is a historic milestone for Plus500. It reflects our capabilities as an accredited, trusted market infrastructure provider, built on proprietary technology, regulatory expertise, and a focus on institutional collaboration,’ Chief Executive Officer David Zruia said.

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