Rothera, a CFTC-regulated event contract exchange, said the U.S. Commodity Futures Trading Commission (CFTC) has approved its filing for a new type of swap tied to a key performance indicator (KPI) of Tesla (TSLA). It is the first such contract the CFTC has approved, paving the way for Rothera to list more KPI swaps covering financial reporting, platform usage and production metrics. Planned corporate KPIs include financial metrics such as earnings, sales, margins and expenses; platform usage metrics such as active users, customers, flights and trips; and production metrics such as units produced and delivered. The gradual rollout begins this fall, with initial listings targeted ahead of relevant companies' quarterly reporting dates. CEO Tom Chippas said the contracts let market participants of all sizes manage risk tied to specific business outcomes more precisely.
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