Fenet is an event-based contracts exchange related to finance, economy and supply chain. It makes tradable the exposures that already sit in your book but have no clean market. Built for risk transfer, not retail speculation: transparent marks, defined settlement, institutional counterparties only.
Illustrative market data. Contract specifications shown for design purposes and subject to authorisation.
Each market is a single, unambiguous claim with a named resolution source. Binary contracts settle at €1 or €0, so the traded price is a directly usable probability: markable, hedgeable and reportable. Outcomes that fall on a range trade as scalars.
A contract quoted at 0.4150 implies a 41.5% probability. P&L, exposure and risk contribution read off the number your model already produces.
Yes or no outcomes trade as binaries. Outcomes that land on a range trade as scalars, settling proportionally within defined bounds.
Post cash or eligible securities, including government bonds. Settlement follows the collateral you post, so exposure is transferred without forcing you into cash. Loss is capped at the premium, with no credit exposure between members.
Every contract names its resolution source before the first quote. Ambiguity is a listing failure, not a post-event argument.
Fenet is not a new asset class to allocate to. It is a transfer mechanism for exposures that already sit in mandates, treasury books and model portfolios without a hedging instrument.
Rate futures blend the policy path with term premium, positioning and carry. A binary on the decision itself gives you the event in clean form and leaves the curve trade intact.
A single regulatory or political outcome can dominate a quarter of tracking error. Buy the tail directly, size it to the mandate, and document the hedge with a market price rather than an internal estimate.
Event probabilities you already model, from nowcasts, text pipelines or ensembles, become executable at a quoted price, with a clean historical series for backtesting and attribution.
Outcomes that drive funding costs, capital treatment or claims frequency rarely map to a listed instrument. Transfer them at a known premium instead of self-insuring the whole distribution.
Prediction markets have an institutional-adoption problem, not a payoff problem: retail venues optimise for engagement and bilateral trades optimise for the dealer. FENET is designed against the constraints a risk committee actually applies.
| FENET | Retail prediction markets | Bilateral OTC | |
|---|---|---|---|
| Participants | Professional clients and eligible counterparties, onboarded under KYB | Open retail, pseudonymous accounts | Negotiated, relationship-dependent |
| Purpose of flow | Risk transfer and hedging | Speculation and engagement | Structuring, capacity-constrained |
| Execution | Order book and block trades | Order book only, thin size | Negotiated only |
| Settlement | Cross-asset, in the collateral you post | Stablecoins or USD wrappers | Negotiated per trade |
| Resolution | Named source and policy published pre-listing | Community or discretionary resolution | Bilateral definitions, dispute risk |
| Price transparency | Firm CLOB, published marks and depth | Thin books, wide effective spreads | No observable market price |
| Reporting | Daily marks, position and trade files | Screenshot-grade records | Manual confirmations |
| Counterparty exposure | Fully collateralised, segregated client assets | Platform and wallet risk | Full dealer credit exposure |
If a venue cannot be reached by your OMS, marked by your middle office and evidenced to your auditor, it will not be traded. Fenet is being built to those requirements first.
Order entry, drop copy and position queries through standard sessions, with a certification environment before go-live.
Top of book and full depth over WebSocket, plus end-of-day marks and full historical series for research and backtesting.
EUR funding over SEPA and TARGET2, or securities collateral held at an EU credit institution in segregated accounts, reconciled daily.
Order-book surveillance, insider and manipulation controls, and an immutable audit trail per member and contract.
Daily position, trade and valuation files in fixed schemas, deliverable to middle office, risk and fund administrators.
Contract proposals reviewed against defined listing criteria, with a published committee process and member consultation.
The product is not live yet. We are building the matching and settlement stack, progressing authorisation, and agreeing market-making obligations. We are inviting a small founding cohort of banks, asset managers and quantitative funds to shape which contracts list, how they are specified, and how the venue connects to your stack.
Tell us who you are and we will come back with more specifications and a call. Or write to dorra.jaouad@fenetexchange.com.
We will come back within two business days with the contract specification and a proposed call slot. Nothing else will be sent in the meantime.