High Roller Technologies (NYSE: ROLR) has formed a new entity, ROLR FCM LLC, as it explores registering as a futures commission merchant (FCM) with the Commodity Futures Trading Commission. The company announced the move from Las Vegas on 11 November.

ROLR FCM has signed a discovery agreement with Connamara Technologies to assess the operating model and technology needed for a potential FCM focused on event contracts.

What Connamara will look at

  • Customer onboarding and the segregation of customer funds.
  • Margin and risk management.
  • Connectivity to clearing organisations and exchanges.
  • Regulatory recordkeeping and reporting.

ROLR FCM will also get a demonstration environment to test Connamara’s EP3 exchange technology internally. Connamara will then set out its findings, including prioritised requirements, integration needs, potential gaps and a preliminary implementation roadmap.

Where High Roller stands now

ROLR FCM has not filed an application with the National Futures Association and is not registered or authorised to operate as an FCM. No timeline has been given. High Roller entered US prediction markets through its subsidiary ROLR US LLC, which is registered as a guaranteed introducing broker, with Crypto.com’s FCM carrying customer accounts and Crypto.com | Derivatives North America supplying the contracts.

What they said

Seth Young, CEO of High Roller, said:

“Forming ROLR FCM LLC is an important step toward building the capabilities we believe can support ROLR’s long-term growth,”

“Our existing structure has provided a foundation for entering the U.S. prediction markets industry.”

High Roller runs the High Roller and Fruta online casino brands, with more than 6,000 games from over 90 providers, alongside its ROLR prediction markets brand.

Source: High Roller Technologies.