BetFair (today, Wednesday, December 5, 2007):
Betfair Launches Tradefair
Betfair Customer Services 05 Dec 14:35
We would like to inform you of the launch of a new business within the Betfair group of companies, Tradefair. Tradefair is for anyone interested in trading on financial markets.
Tradefair Binaries – is a financial exchange product that uses Betfair’s revolutionary but familiar technology to allow you to bet on the world’s financial markets. With markets as simple as “Is FTSE going to close up or down today?” and markets featuring other indices, currencies and interest-rate movements, there should be something for everybody. You can use your existing Betfair account, you know exactly how much you can win or lose and can even set your own price. Go to http://www.tradefair.com to find out more.
Additionally, we are pleased to announce that Tradefair Spreads offers you financial spread trading at http://www.tradefair.com.
Keep an eye out for more details about Tradefair Binaries and Tradefair Spreads in future weeks!
Very interesting press release: it shows that they view TradeFair strictly as a financial event derivative exchange (just like HedgeStreet was, in the US) —which, from its UK base, will probably reach out to continental Europe, and possibly to the US, later on, when the national regulations allow. The second interesting clue is that they view the spreads as a sidebar product —good (I don’t like spreads). The third clue is that they confirm what the Midas Oracle readers already knew: TradeFair is a spin-off, not just an additional brand.
Just a remark related to the first point. Let’s suppose (crazy supposition) that, later on, they understand that they were wrong to corner TradeFair as a financial-only prediction exchange. They will easily be able to re-brand it as a generalist exchange (like TradeSports-InTrade), later on. Nothing is really engraved in marble for the eternity. (They could also use the TradeFair software to power generalist prediction markets on another exchange, later on, maybe, who knows.)
Previously: Binaries and Spreads: BetFair spins off TradeFair. (published on November 5, 2007) + Meet David Jack, the managing director of TradeFair. + TradeFair Binaries User Guide – What is Trading? + BetFair’s Global Warming Prediction Markets — CFM’s Views (My citicism of BetFair’s entry in the prediction market field)
NEXT: Why does Tradefair care about Prediction Markets – by TradeFair’s David Jack – 2007-12-06
