Non-Executive Director - DCM Public Director / DCO Independent Director

Smarkets is a prediction market exchange for sports and political trading that has handled over $50 billion in volume since 2010. We are upending the sports betting industry by growing a platform that offers the best value for traders, with not only the fairest prices but also the best technology, alongside a superior customer experience.

Smarkets Board of Trade Exchange LLC

Smarkets Board of Trade Clearing LLC

Smarkets is seeking two senior independent non-executive directors to serve on the boards of both Smarkets Board of Trade Exchange LLC (a designated contract market) and Smarkets Board of Trade Clearing LLC (a derivatives clearing organisation).

Each director will serve as a DCM Public Director of Smarkets Exchange and a DCO Independent Director of Smarkets Clearing. As this is a dual-board appointment, each candidate must satisfy both the DCM Public Director independence standard and the DCO Independent Director material-relationship standard; satisfying only one will not qualify a candidate for the role.

The role provides non-executive oversight and constructive challenge, not day-to-day management; the experience we are looking for is set out below.

Sitting on both boards, the director will contribute to oversight of regulatory compliance, market integrity, risk management, operational resilience, system safeguards, settlement and financial resources, participant access, conflicts of interest, and recovery and wind-down planning — exercising judgment consistent with the public interest, Smarkets Exchange’s self-regulatory responsibilities, and Smarkets Clearing’s safety and regulatory obligations.

Board-level oversight of the exchange’s regulatory programme — surveillance, investigations, disciplinary processes, rule enforcement, regulatory budget and resources, and the performance of the Chief Regulatory Officer. The director may serve on the DCM Regulatory Oversight Committee and other committees, supporting impartial decision-making and the fair, consistent application of the Rulebook.

Board-level oversight of the clearinghouse’s risk management framework, settlement, participant eligibility, collateralisation model, default management, financial resources, system safeguards, operational resilience, and recovery and wind-down planning. One of the DCO Independent Directors will chair Smarkets Clearing’s Disciplinary Panel, Membership Committee and Appeals Committee, so candidates should be willing to perform committee chair duties — managing conflicts, ensuring procedural fairness, and overseeing disciplinary, membership and appeal matters in line with the Rulebook.

Candidates would generally have at least 10 years’ relevant senior experience (or equivalent seniority, expertise or regulatory experience), drawn from areas such as:

• regulated exchanges, clearinghouses, trading venues, or financial market infrastructure;

• derivatives, event contracts, clearing, settlement, or market operations;

• regulatory, compliance, surveillance, enforcement, or legal functions;

• financial services governance or board service;

• enterprise risk, cybersecurity, technology risk, or operational resilience;

• audit, finance, or controls oversight; or

• public policy, regulation, or public-interest governance.

The director must satisfy the independence standards for both roles:

• DCM Public Director: no material relationship with Smarkets Exchange — i.e. no relationship that could reasonably affect the director’s independent judgment.

• DCO Independent Director: no material relationship with Smarkets Clearing. In particular, the individual must not currently be, or have been within the past year, an officer or employee of Smarkets Clearing or an affiliate, or a director, officer, or employee of a Participant or Introducing Broker.

Candidates must also meet applicable fitness, integrity, competence, disciplinary-history, and disqualification standards, and are subject to Smarkets’ conflicts-of-interest policies: any actual, potential, or perceived conflict must be disclosed, and the director must recuse from any matter in which they have a conflict.

The role is unlikely to suit candidates who are currently (or were within the past year) employed by Smarkets, an affiliate, a Participant, or an Introducing Broker; who hold recent material commercial, financial, or family ties to Smarkets; or who have a disciplinary, regulatory, or disqualification issue affecting director fitness.

The director must attend quarterly board and committee meetings, review board materials, contribute to regulatory and governance discussions, and be available for urgent matters. Additional time may be needed for committee chair duties, disciplinary and appeal matters, regulatory and incident reviews, and meetings with management or regulators.

• independent judgment and sound regulatory instincts;

• integrity and credibility;

• willingness to challenge management constructively;

• strong governance discipline and practical understanding of regulated markets;

• ability to manage conflicts appropriately; and

• clear, balanced, public-interest-minded decision-making and communication.

We’re an equal opportunities employer and celebrate diversity in all its forms. If you need any adjustments during the recruitment process, please let us know — we’re happy to accommodate your needs.