TradeSports-InTrade: DEMS.HOUSE.OVER29.5 contract – REDUX

Alex Forshaw:

Check out my latest post at Midas Oracle, in which I recap and broadside TS’ handling of the DEMS.HOUSE.OVER29.5 contract. The original difference in interpretation was understandable, but TS’ subsequent circling the wagons, and hoping it would blow over, fit a broader pattern of ignoring criticism and treating individual traders in a cavalier fashion.

Let me be clear: I think TS’ infrastructure and growing trader base are both outstanding assets–the best that I know of for political futures, in fact. That’s why I rip them mercilessly even as I trade on TS all the time. It that also makes credibility issues all the more important, so that TS can retain its status as a major event derivatives player and not squander its client base and infrastructure on sloppy, legalistic outcome interpretation and subsequent CYA / refusing to acknowledge the most minor of mistakes / not even considering compensation of legitimate alternative interpretations of its contracts.