DUBLIN/PARK CITY, May 28, 2008 -- Intrade and Reality Markets announced today that they have reached an understanding to explore areas of collaboration that would mutually benefit the memberships of both prediction market platforms and prediction market users generally.
- The adoption of a standardized event market specifications starting with Reality Markets listing Intrade markets and prices on its platform
- Cooperation in developing future event market categories and contracts
- Cooperation in exploring the feasibility of each exchange offering the other's markets and market data.
Intrade CEO John Delaney said, "We are very pleased to pursue areas of common interest with Reality Markets and all prediction market platform operators. For prediction markets to achieve their full potential, moving closer to a seamless marketplace will become ever more important to market participants. We look forward to working with Reality Markets and other platform operators to expand the availability of standardized markets and specifications to prediction market users."
Brad Stewart, Chief Executive Officer of Reality Markets said "Intrade is considered the leading prediction market platform and we are very pleased to co-operate with them. By adopting a common event market specification we will make it easier for users of prediction markets to observe arbitrage opportunities, and move between platforms to exploit these opportunities and improve the quality of the information."
About Intrade: Intrade is the worlds leading prediction market platform. Members trade on unique markets and by so doing generate information on the likelihood of the underlying event occurring. Intrade and the predictive information generated by its members have been featured on ABC, CNBC, FOX, CNN, Bloomberg, Fortune & others. Subscribe to Intrade News on RSS: http://www.intrade.com/news/newsRss.xml
Contact: John Delaney, CEO, Intrade
Telephone: 011 353 1 6200 300
About Reality Markets: Reality Markets is a prediction market trading platform. Members are able to trade on events markets that they are passionate and opinionated about. By aggregating the predictions of the diverse community of participants, Reality Markets and its members generate accurate predictive information on the likelihood of specific events occurring.
Contact: Brad Stewart, CEO, Reality Markets