Cantor为对冲基金开放Kalshi预测市场大宗交易
Cantor Fitzgerald Opens Kalshi Prediction Markets to Hedge Funds, Institutional Investors
Cantor Fitzgerald正式向机构客户开放Kalshi预测市场大宗交易通道，Susquehanna提供流动性，这是预测市场机构化进程的实质性一步，值得关注预测市场基础设施与相关标的的投资者留意。
Cantor Fitzgerald is opening a new institutional gateway into prediction markets, launching a service that will allow hedge funds and other large investors to execute block trades in event contracts on Kalshi.
Cantor Fitzgerald 正在为预测市场开辟新的机构通道，推出一项服务，允许对冲基金和其他大型投资者在 Kalshi 上执行事件合约的大宗交易。
The global financial services firm and investment bank announced Wednesday that it will act as an introducing broker, arranging and facilitating institutional-sized trades through Kalshi‘s block-trading framework. The trades can be negotiated at a single price away from the exchange’s central order book, giving institutions a way to take larger positions without relying solely on liquidity available in the public market.
这家全球金融服务公司和投资银行周三宣布，将作为介绍经纪人，通过 Kalshi 的大宗交易框架安排和促进机构规模交易。这些交易可以在交易所中央订单簿之外以单一价格协商，为机构提供了一种在不完全依赖公开市场流动性的情况下建立更大头寸的方式。
Susquehanna Predictions, part of Susquehanna International Group, will provide institutional-scale pricing and liquidity for the trades. Cantor said Kalshi will be the first prediction market available through the new service, with additional venues expected to follow.
Susquehanna International Group 旗下的 Susquehanna Predictions 将为这些交易提供机构规模的定价和流动性。Cantor 表示，Kalshi 将是新服务中首个可用的预测市场，预计后续将有更多平台加入。
“Prediction markets are growing rapidly, but institutional participation has not kept pace because investors have lacked the ability to transact at scale,” Pascal Bandelier, co-CEO and global head of equities at Cantor, said in the announcement. The company said the new service applies the institutional trading model it already uses in equity and fixed-income markets to event contracts.
“预测市场正在快速增长，但机构参与度并未跟上，因为投资者缺乏大规模交易的能力，”Cantor 联合首席执行官兼全球股票主管 Pascal Bandelier 在公告中表示。公司表示，新服务将其在股票和固定收益市场中使用的机构交易模式应用于事件合约。
Want to see more from DefiRate? Add us as a preferred news source on your Google account
想从 DefiRate 获取更多内容？请在您的 Google 账户中将我们添加为首选新闻源
Cantor brings Kalshi to thousands of institutional clients
Cantor 将 Kalshi 带给数千家机构客户
Cantor has roughly 3,000 institutional clients, ranging from hedge funds to family offices, which manage investments for wealthy families, according to The Wall Street Journal. The firm will serve as a broker for those clients, buying or selling blocks of Kalshi event contracts and, in some cases, helping distribute positions to other investors through private negotiations.
据《华尔街日报》报道，Cantor 拥有约 3,000 家机构客户，涵盖从对冲基金到为富裕家庭管理投资的家族办公室。该公司将作为这些客户的经纪人，买卖 Kalshi 事件合约的大宗，并在某些情况下，通过私下协商帮助将头寸分配给其他投资者。
The potential uses go well beyond the political and sports contracts that have driven much of prediction markets’ recent public attention. Bandelier told the WSJ that hedge funds have expressed interest in contracts tied directly to corporate metrics, such as iPhone sales, rather than predicting how Apple shares might respond to those figures. Family offices have looked at contracts tied to weather, crop production and oil prices as potential hedges against risks affecting their investments.
潜在用途远不止于推动预测市场近期公众关注的政治和体育合约。Bandelier 告诉《华尔街日报》，对冲基金对直接与公司指标（如 iPhone 销量）挂钩的合约表现出兴趣，而不是预测苹果股价可能对这些数据的反应。家族办公室则关注与天气、农作物产量和油价相关的合约，作为对冲影响其投资风险的潜在工具。
Institutions will also be able to propose markets tailored to risks they want to trade or hedge. Joe Grubb, head of business development at Susquehanna Predictions, cited artificial intelligence supply chains and computing power prices as other areas where event contracts could be used.
机构也将能够提出针对他们希望交易或对冲的风险量身定制的市场。Susquehanna Predictions的业务发展主管乔·格拉布指出，人工智能供应链和计算能力价格是事件合约可能应用的其他领域。
“We believe the next area of material growth for prediction markets will be large institutional risk transfer,” Grubb said in Cantor’s announcement. Susquehanna said customized event contracts could give institutional traders a way to hedge both broad market risks and industry-specific exposures that are not adequately covered by traditional insurance markets.
格拉布在坎托的公告中说：“我们相信预测市场的下一个实质性增长领域将是大型机构风险转移。”Susquehanna表示，定制事件合约可以为机构交易者提供一种对冲广泛市场风险和行业特定风险的方式，这些风险在传统保险市场中并未得到充分覆盖。
Institutional prediction market push was already underway
机构预测市场的推动已经在进行中
Cantor’s launch builds on a broader effort by Kalshi and other financial firms to make prediction markets more accessible to institutional investors. In May, Kalshi told Reuters that its institutional trading volume had grown 800% over the previous six months, driven by increased activity from asset managers, hedge funds, prime brokerages and other financial institutions.
坎托的推出建立在Kalshi和其他金融公司为使预测市场更易于机构投资者使用的更广泛努力之上。5月，Kalshi告诉路透社，其机构交易量在过去六个月内增长了800%，这得益于资产管理公司、对冲基金、主要经纪商和其他金融机构的活动增加。
Kalshi had also recently executed its first customized block trade, while some institutional contracts were already reaching several million dollars. Andy Ross, Kalshi’s head of institutional business, said the exchange was seeing increased demand for contracts that could hedge risks over the coming months, although attracting a broader institutional base remained in its early stages.
Kalshi最近也执行了其首笔定制大宗交易，而一些机构合约已经达到数百万美元。Kalshi机构业务主管安迪·罗斯表示，交易所看到对能够对冲未来几个月风险的合约需求增加，尽管吸引更广泛的机构基础仍处于早期阶段。
“We’re in the foothills of this, but we’re climbing pretty fast here,” Ross told Reuters.
罗斯告诉路透社：“我们正处于起步阶段，但我们在快速攀升。”
Other firms have been building the infrastructure needed to connect those investors to prediction markets. Clear Street partnered with Kalshi to provide institutional clients access to event contracts, while trading technology provider Talos integrated Kalshi into its platform in July, giving select institutional clients access to algorithmic execution and block-trading tools.
其他公司一直在建设将这些投资者与预测市场连接所需的基础设施。Clear Street与Kalshi合作，为机构客户提供事件合约的访问权限，而交易技术提供商Talos在7月将Kalshi集成到其平台中，为选定的机构客户提供算法执行和大宗交易工具的访问权限。
Cantor was already involved in that effort. The investment bank advised Talos on aspects of the buildout of its institutional prediction market functionality. At the time, Cantor said prediction markets were developing into a “credible institutional asset class” and that firms entering early could help shape market structure, liquidity and execution standards.
坎托已经参与了这一努力。这家投资银行在Talos构建其机构预测市场功能方面提供了建议。当时，坎托表示，预测市场正在发展成为“可信的机构资产类别”，早期进入的公司可能有助于塑造市场结构、流动性和执行标准。
Kalshi lowers threshold for institutional block-trade incentives
Kalshi降低机构大宗交易激励的门槛
The Cantor launch comes as Kalshi is separately making its own block-trading incentives more accessible to institutional traders. In a CFTC filing Wednesday, the exchange amended its Block Trade Rebate Program to lower the qualifying threshold from 100,000 contracts to 50,000, matching Kalshi’s minimum size for a block trade.
Cantor的推出正值Kalshi正单独采取措施，使其大宗交易激励计划对机构交易者更加可及。在周三向美国商品期货交易委员会（CFTC）提交的文件中，该交易所修订了其大宗交易返利计划，将合格门槛从10万份合约降低至5万份，与Kalshi的大宗交易最低规模相匹配。
Under the amended program, eligible trades of at least 50,000 contracts can receive rebates covering all maker and taker exchange trading fees, less other incentives earned during the month. Kalshi also extended the program’s expiration date from Sept. 1 to Oct. 1. The changes will take effect no earlier than 10 business days after the Aug. 19 filing.
根据修订后的计划，符合条件的至少5万份合约的交易可获得返利，覆盖所有做市商和接受方的交易所交易费用，减去当月获得的其他激励。Kalshi还将该计划的到期日从9月1日延长至10月1日。这些变更将在8月19日提交文件后的至少10个工作日后生效。
Kalshi said it intends for the program to “accelerate institutional adoption of event contracts as a mechanism for hedging risk,” with larger block trades expected to eventually generate additional activity and liquidity on its central order book. Kalshi excludes sports contracts from the rebate program.
Kalshi表示，该计划旨在“加速机构采用事件合约作为对冲风险的工具”，预计更大的大宗交易最终将为其中央订单簿带来额外的活动和流动性。Kalshi将体育合约排除在返利计划之外。
The filing does not mention Cantor or Susquehanna. Kalshi also did not indicate the amendment is specifically in connection with Cantor’s new service. However, its filing on the same day as Cantor’s launch underscores Kalshi’s broader effort to attract larger institutional trades alongside the new Wall Street distribution channels being built around its markets.
该文件未提及Cantor或Susquehanna。Kalshi也未表明此次修订与Cantor的新服务有具体关联。然而，其在Cantor推出同一天提交的文件，凸显了Kalshi在围绕其市场构建新的华尔街分销渠道的同时，更广泛地努力吸引更大的机构交易。
The post Cantor Fitzgerald Opens Kalshi Prediction Markets to Hedge Funds, Institutional Investors appeared first on DeFi Rate.
文章《Cantor Fitzgerald向对冲基金和机构投资者开放Kalshi预测市场》最初出现在DeFi Rate上。
更进一步：量化金融体系
看懂新闻只是起点——沿量化金融路径，把它变成能交付的工程能力