Having operated in mock trading mode since 2009, ACE's real-money
exchange will represent the only effective, reliable, and legal means to
manage exposure to (or, for that matter, to speculate on) political outcomes,
a vast and as yet unhedgeable category of financial risk.
Our management team and advisory board benefit greatly from key
relationships among our political, financial, corporate, and academic
networks. Over the last 18 months, we have also cultivated a valuable
relationship with the CFTC, with whom we've been in consultation during
and since completion of the design and structuring phase of the Exchange.
Co-founders Flip Pidot and Paul Lang have been involved in politics and
financial markets throughout their academic and professional careers. Both
have worked in various capacities in financial services firms, large and small
(including Citicorp Securities, Boyar Asset Management, Arthur Andersen,
and Koch Industries) as well as a number of political campaigns. Flip and
Paul were both general election candidates for State Senate in 2006 – Flip as
a Republican in New York and Paul as a Democrat in Pennsylvania. During
his first year at Darden Business School, Flip founded Virtual Asset
Exchange, which won the school’s Business Concept Competition, funding
from the Batten Institute, and a slot in the Darden Progressive Incubator. He
currently serves as a venture mentor and business plan screener for the
annual business plan competition at Stern Business School (NYU).
Advisors to ACE include Dr. Robert Bruner (dean of Darden Business
School), Dr. Robert Webb (finance professor at UVA’s McIntire School of
Commerce and former economist at the CFTC), and Justin Fishkin
(principal and senior strategist at The Cypress Group, a DC-based
investment advisory firm offering political insight to hedge funds).
As Washington's influence on corporate valuations and financial markets has
grown, we believe the appetite for a reliable means to offset exposure to