Chicago, November 5 (Reuters) / PRNewswire / -- A prediction market platform and exchange for developers, STX, announced on Thursday that the U.S. Commodity Futures Trading Commission (CFTC) has approved it to operate as a designated contract market (Designated Contract Market, DCM) and a derivatives clearing organization (Derivatives Clearing Organization, DCO).

These approvals mean that STX can operate a regulated exchange in the United States and clear transactions conducted on its platform.

Holding both of these qualifications simultaneously means that STX manages the entire lifecycle of a transaction under federal supervision, from order matching to clearing and settlement. The original intention of establishing STX was to provide institutional-level infrastructure for event contracts.

On the STX platform, participants directly trade positions based on real-world outcomes through an open order book, with prices determined by the market. Sports are at the core of this platform, but its broader goal is to provide a transparent market in any scenario where people have opinions about future developments.

STX is also aimed at developers. Its API has been launched, and documentation is provided on docs.stxapp.io. It supports REST and WebSocket for accessing markets, placing orders, as well as managing portfolio data. Additionally, it offers official TypeScript, Python, and C# SDK. Developers can now build in a demonstration environment and can also develop applications for STX members through OAuth. Teams that hope to collaborate with STX for the launch are encouraged to apply to join STX Launch Partner Program to receive direct integration support and gain early access before the wider rollout in the United States.

STX initially launched as a regulated exchange in Ontario, and it took several years of processes before it obtained approval in the United States.

STX CEO Justin Deutsch stated: "We hope that the best developers can obtain the stability and support they need, so as to focus on the next wave of innovation in financial contracts."

STX indicates that trading in the United States is about to be launched. Traders can join the waiting list at stxapp.io. Developers can visit docs.stxapp.io to view the documentation, and apply to become one of the first partners at stxapp.io / launch-partner.

About STX

STX is a prediction market platform and exchange aimed at developers, where people can trade positions based on real-world outcomes, with a focus on sports. STX is the designated contract market and derivatives clearing organization in the United States as specified by CFTC, and it operates a regulated exchange in Ontario. For more information, see stxapp.io.

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