Non-Executive Director

DCM Public Director / DCO Independent Director

About Smarkets

Smarkets is a prediction market exchange for sports and political trading that has handled more than $50 billion in trading volume since 2010. The company is focused on delivering fair pricing, advanced technology, and a superior customer experience while reshaping the sports betting and prediction markets industry.

Entities

Smarkets Board of Trade Exchange LLC

Smarkets Board of Trade Clearing LLC

Role Summary

Smarkets is seeking two senior independent non-executive directors to serve on the boards of both Smarkets Board of Trade Exchange LLC (Designated Contract Market) and Smarkets Board of Trade Clearing LLC (Derivatives Clearing Organization).

Each director will serve as both a DCM Public Director and a DCO Independent Director. Candidates must satisfy the independence requirements for both roles.

This is a governance and oversight position focused on independent judgment, regulatory oversight, and risk management rather than day-to-day operational management.

Key Responsibilities

Serve on both boards and contribute to oversight of:

• Regulatory compliance
• Market integrity
• Risk management
• Operational resilience
• System safeguards
• Settlement and financial resources
• Participant access
• Conflicts of interest
• Recovery and wind-down planning

Exercise independent judgment consistent with the public interest, regulatory obligations, and governance responsibilities of both organizations.

DCM Public Director – Smarkets Exchange

Provide board-level oversight of the exchange's regulatory program, including:

• Market surveillance
• Investigations
• Disciplinary processes
• Rule enforcement
• Regulatory budgets and resources
• Chief Regulatory Officer performance

May serve on the Regulatory Oversight Committee and other governance committees.

DCO Independent Director – Smarkets Clearing

Provide board-level oversight of:

• Risk management frameworks
• Settlement processes
• Participant eligibility
• Collateralization models
• Default management
• Financial resources
• Operational resilience
• Recovery and wind-down planning

One Independent Director will also chair:

• Disciplinary Panel
• Membership Committee
• Appeals Committee

Responsibilities include managing conflicts, ensuring procedural fairness, and overseeing disciplinary, membership, and appeals matters.

Candidate Profile

Candidates should generally possess 10+ years of senior-level experience in one or more of the following areas:

• Regulated exchanges
• Clearinghouses
• Trading venues
• Financial market infrastructure
• Derivatives and event contracts
• Clearing and settlement operations
• Regulatory and compliance functions
• Market surveillance and enforcement
• Legal and governance roles
• Enterprise risk management
• Cybersecurity
• Technology risk
• Operational resilience
• Audit and finance oversight
• Public policy and regulatory affairs

Independence, Eligibility & Conflicts

Candidates must satisfy both independence standards:

DCM Public Director

Must not have any material relationship with Smarkets Exchange that could impair independent judgment.

DCO Independent Director

Must not have any material relationship with Smarkets Clearing.

In particular, candidates must not:

• Currently be an officer or employee of Smarkets Clearing or an affiliate
• Have been employed by Smarkets Clearing or an affiliate within the past year
• Be a director, officer, or employee of a Participant or Introducing Broker

Candidates must also satisfy applicable fitness, integrity, competence, disciplinary history, and director eligibility requirements.

Any actual, potential, or perceived conflicts of interest must be disclosed and appropriately managed.

Time Commitment

Directors are expected to:

• Attend quarterly board meetings
• Attend committee meetings as required
• Review board materials
• Participate in governance and regulatory discussions
• Be available for urgent matters

Additional time may be required for:

• Committee chair responsibilities
• Disciplinary and appeal matters
• Regulatory reviews
• Incident response discussions
• Meetings with management and regulators

Personal Attributes

Successful candidates will demonstrate:

• Independent judgment
• Strong regulatory instincts
• Integrity and credibility
• Willingness to challenge management constructively
• Strong governance discipline
• Practical understanding of regulated markets
• Effective conflict management
• Balanced, public-interest-oriented decision-making
• Strong communication skills

Diversity & Inclusion

Smarkets is an equal opportunity employer and welcomes applicants from all backgrounds. Accommodations are available throughout the recruitment process upon request.

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