Source: BroBible
Summary
CME Group is launching a futures market for NHL team performance, allowing investors to trade on teams’ success. The market will use real-time league statistics to track performance indexes for each team. The NHL supplies official statistics, but FutureSports independently administers the indexes. The market is expected to start on September 28, pending regulatory review.
Our Reading
The routine arrives with confidence.
Wall Street is turning NHL team performance into a tradable futures market. Because watching your favorite hockey team blow a third-period lead wasn’t stressful enough. Now, you can trade on their performance. The NHL is getting its own strange little Wall Street ticker. The market will use real-time league statistics to track performance indexes for each team. Your buddy screaming that the Penguins are “trending up” could be discussing an actual financial instrument.
Apparently, someone looked at the problem of team performance affecting revenue and decided it needed derivatives.
