Public markets. Private positions.
Parallax is a regulated event-contract exchange: standardized event contracts quoted 0–100, auction-first execution, central clearing, deterministic resolution, and controlled visibility.
The contract model and the risk layer are stable across all listed products. Execution protocols vary by market type and liquidity regime.
Standardized event contracts
Fixed-payout, fungible contracts quoted 0 to 100 and cash-settled on resolution. Binary, range-strip, and categorical-ladder families cover the product set.
Auctions as primary discovery
Frequent uniform-price auctions concentrate flow, reduce signaling noise, and establish benchmark prices. RFQ and block workflows handle size. Continuous trading is earned, not assumed.
Central clearing and risk
One risk layer across all approved contracts: segregation, netting, collateral management, scenario-based margin, and an explicit default waterfall.
Tiered visibility
Public market quality. Private positions, margin, and collateral. Full supervisory look-through for conduct, risk, and settlement oversight.
Controlled visibility by role.
Parallax separates market transparency from position disclosure. Participants see their own orders, trades, collateral, and positions. The market sees aggregate price, volume, depth, imbalance, and open interest. The venue maintains the full audit trail required for surveillance, risk, and resolution. Regulators receive required reporting and access under the rulebook and applicable law.
Deploy size without revealing direction. Preserve discretion for institutional positions while market quality remains open and auditable.
Proves market quality without revealing intent.
- Listed contract terms
- Last price and indicative price
- Paired volume and imbalance
- Open interest and delayed prints in size bands
Built on Canton.
Parallax runs on the Canton Network, a permissioned ledger used in institutional financial-market workflows. Canton and Daml form the canonical rights, privacy, and settlement layer: the system of record for what exists, who can see it, and how it settles.
Hot-path services such as auction optimization, RFQ negotiation, market-data dissemination, surveillance analytics, and client connectivity run off-ledger and commit back to canonical state, so the rulebook and the technical record remain aligned.