Move over NASDAQ, the world of stock trading has taken a turn.
Instead of just owning a piece of a company, it’s now possible to own a piece of a soccer player, kind of. INDEX is a stock market that allows for speculation on the performance of soccer players. Similar to the way a commodity exchange works, INDEX allows participants to buy and sell money shares of more than 2,000 football players. The list includes some of the including some of the top players in the English Premier League, the UEFA Champions League and the UEFA Europe League.
The company already offers trading to users based in the UK with over 100,000 subscribers. It is now moving into Sweden and Canada, part of the companies plan to eventually offer its platform to traders across the globe. It decided on the two countries due in large part to the popularity of soccer, and because both countries have a high population of English speakers.
The expansion will give additional liquidity to INDEX’s market, and will allow its clients to have a broader portfolio with more possibilities to generate profits. Adam Cole, founder and CEO of INDEX, spoke about the expansion, saying, “We have selected Sweden and Canada as the first step in our international expansion strategy because both nations have strong sporting heritage and English is widely spoken. This latest development is not only great news for Swedish and Canadian football/trading fans but will also be a significant boost for our UK football traders.”
INDEX’s website includes a ticker where users can watch the trading performance of their players to decide on how to react. Players such as Messi, Ronaldo and Dybala are among the many players found on the site. By the way, Messi and Ronaldo are trading up by a couple of points, while Dybala is down by just over 1%.
INDEX is the first company to bring together financial trading and sports gambling. Dollar trading amounts range from the low double-digits up to six-digit figures. Its platform provides users with the ability to make money throughout the year, and include a wide range of betting opportunities. INDEX was first introduced in 2015 and is owned by UK gambling operator BetIndex.