FACILITIES FOR FINANCIAL INSTRUMENTS BASED ON EVENT HAPPENINGS

1 . A method comprising:

receiving, by a computing device, information defining a winning parameter of a contest from a contest expert;

listing, by the computing device, a financial instrument that gives a holder of the financial instrument a right to a payment based on an outcome the contest and the winning parameter;

receiving, by the computing device, an offer to sell the financial instrument at a first price;

receiving, by the computing device, a bid to buy the financial instrument at the first price;

matching, by the computing device and in response to receiving the bid for the first price and receiving the offer for the first price, the offer and the bid; and

facilitating, by the computing device and in response to matching the bid and the offer, a trade that fulfills at last a part of each of the bid and the offer.

2 . The method of claim 1 , in which the contest includes a fantasy sports game.

3 . The method of claim 1 , in which the computing device includes an electronic marketplace.

4 . The method of claim 1 , in which facilitating the trade includes controlling a clearinghouse to make the trade.

5 . The method of claim 1 , in which the method comprises:

determining, by a second computing device, the matching bid and offer for the financial instrument;

facilitating, by the second computing device and in response to determining the matching bid and offer, a transfer of money from the second user's account into the first user's account;

forming, by the second computing device and in response to determining the matching bid and offer, a first obligation to make a payment of an amount of money to the second user if the outcome of the contest meets the winning parameter;

forming, by the second computing device and in response to determining the matching bid and offer, a second obligation to receive a payment of the amount of money from the first user if the outcome meets the winning parameter;

determining, by the second computing device, that the outcome meets the winning parameter;

facilitating, by the second computing device and in response to the determining that the outcome meets the winning parameter, a payment of the amount of money to the second user; and

facilitating, by the second computing device and in response to the determining that the outcome meets the winning parameter, a payment of the amount of money from the first user.

6 . The method of claim 1 , in which the winning parameter includes a line.

7 . A method comprising:

determining, by a computing device, a matching bid and offer for a financial instrument;

facilitating, by the computing device and in response to determining the matching bid and offer, a transfer of money from a second user's account into a first user's account;

forming, by the computing device and in response to determining the matching bid and offer, a first obligation to make a payment of an amount of money to the second user if the outcome of a contest meets a winning parameter set by an expert;

forming, by the computing device and in response to determining the matching bid and offer, a second obligation to receive a payment of the amount of money from the first user if the outcome meets the winning parameter;

determining, by the computing device, that the outcome meets the winning parameter;

facilitating, by the computing device and in response to the determining that the outcome meets the winning parameter, a payment of the amount of money to the second user; and

facilitating, by the computing device and in response to the determining that the outcome meets the winning parameter, a payment of the amount of money from the first user.

8 . The method of claim 7 , in which the computing device includes an electronic clearing house.

9 . The method of claim 7 , in which the contest includes a fantasy sports game.

10 . The method of claim 7 , in which the winning parameter includes a line.

11 . The method of claim 7 , in which determining the matching bid and offer includes receiving the matching bid and offer from an electronic marketplace.

12 . The method of claim 7 , in which the method comprises:

receiving, by a second computing device, information defining the winning parameter of the contest from the contest expert;

listing, by the second computing device, the financial instrument, in which the financial instrument gives a holder of the financial instrument a right to a payment based on an outcome the contest and the winning parameter;

receiving, by the second computing device, an offer to sell the financial instrument at a first price;

receiving, by the second computing device, a bid to buy the financial instrument at the first price;

matching, by the second computing device and in response to receiving the bid for the first price and receiving the offer for the first price, the offer and the bid; and

facilitating, by the computing device and in response to matching the bid and the offer, a trade that fulfills at last a part of each of the bid and the offer.

13 . An apparatus comprising: a computing device and a non-transitory medium having stored thereon a plurality of instructions that when executed by the computing device cause the apparatus to:

receive information defining a winning parameter of a contest from a contest expert;

list a financial instrument that gives a holder of the financial instrument a right to a payment based on an outcome the contest and the winning parameter;

receive an offer to sell the financial instrument at a first price;

receive a bid to buy the financial instrument at the first price;

match, in response to receiving the bid for the first price and receiving the offer for the first price, the offer and the bid; and

facilitate, in response to matching the bid and the offer, a trade that fulfills at last a part of each of the bid and the offer.

14 . An apparatus comprising: a computing device and a non-transitory medium having stored thereon a plurality of instructions that when executed by the computing device cause the apparatus to:

determine a matching bid and offer for a financial instrument;

facilitate, in response to determining the matching bid and offer, a transfer of money from a second user's account into a first user's account;

form, in response to determining the matching bid and offer, a first obligation to make a payment of an amount of money to the second user if the outcome of a contest meets a winning parameter set by an expert;

form, in response to determining the matching bid and offer, a second obligation to receive a payment of the amount of money from the first user if the outcome meets the winning parameter;

determine that the outcome meets the winning parameter;

facilitate, in response to the determining that the outcome meets the winning parameter, a payment of the amount of money to the second user; and

facilitating, by the computing device and in response to the determining that the outcome meets the winning parameter, a payment of the amount of money from the first user.