Systematic trading in event markets.
Tessel Markets is a proprietary trading firm. We price sports, esports, crypto and weather events from live data, and trade them with our own capital on systems we build ourselves.
Every contract ends at zero or one.
An event contract pays out on one fact: the team won, the price closed above the line, the station's high reached the mark. Between the open and that fact, its price is a probability that moves with every piece of news. We trade that movement with models, and the models are only as good as the data, the speed and the discipline behind them.
Models, tested before they trade
Every strategy is a model scored on recorded markets, walked forward in time, before capital goes in. Every order is sent by software.
Our own data and execution
We record the markets we trade and the sources that move them, run our own systems close to both, and measure every step from an event to our order.
Data from the source
We take each event from the source its contract settles on wherever we can, and use it for our own trading only.
Four markets, one discipline.
Each market settles differently, moves at a different speed and needs its own data. What carries across is the method.
Sports
Results, totals and in-play markets, repriced within seconds of a scoring play.
Esports
Professional matches whose every kill and objective is recorded by the game's own servers.
Crypto
Short-dated contracts on where a price will stand at a fixed time, on assets that trade around the clock.
Weather
Daily temperature and precipitation contracts settled on the readings of named stations.
Writing
Notes on how event markets work: settlement, speed, forecasting and risk.
- The settlement source is the contractOvertime rules, postponements, revised statistics, price references and weather stations: where what a contract pays on parts from what happened, and how to read a market before trading it.
- A latency budget, from the event to the orderSix legs between an event and an order at the venue, how to measure each one on clocks that agree, and why the cheapest milliseconds are usually in your own software.
- Calibrating a forecast against a market priceCalibration, sharpness and proper scoring rules; reading a probability out of a price; and testing a model against the market the way it would really have traded.
Data, venues and infrastructure.
If you provide official data, market access or connectivity for the markets we trade, we would like to hear from you.