ECGA / EVENT CONTRACT GOVERNANCE ARCHETYPE
Not every event
deserves a market.
ECGA defines the conditions under which an event-based market object can responsibly exist—and, equally importantly, when it must not exist.
ADMISSION SIGNALUNDER REVIEW
0 / 8 criteria · 0 / 16 governance points
01 / 08INFORMATION VALUE
Does the event create a credible information benefit?
The question must make uncertainty about the economy, politics, technology or society measurable in a structured way.
01 / CONTROL CHAIN
Governance does not end
with admission.
Candidate
Event idea and information purpose
Classification
Product and legal assessment
Risk Score
Event, insider and manipulation risk
Admission
Controls, limits and conditions
Monitoring
Trading, conduct and source record
Determination
Rules-based outcome determination
Settlement
Finality and documented settlement
Audit
Post-event review and calibration
02 / GOVERNANCE LAYERS
Four layers.
An auditable standard.
EVENT ELIGIBILITY
Should this event exist as a market object at all?
- Information purpose
- Unambiguous definition
- Public-interest assessment
DETERMINATION
How is the outcome determined independently?
- Source hierarchy
- Fallback & Revision
- Disputes and finality
MARKET INTEGRITY
How does the signal remain robust?
- Surveillance
- Position limits
- Insider and conflict rules
PARTICIPANT CONTROLS
Who may participate, and under what conditions?
- Eligibility & Access
- AML/KYC where value is transferred
- Exposure and stop rules
03 / EXCLUSION CAPABILITY
The ability to reject is
a quality criterion.
A standard is credible only if it excludes unsuitable events on stated grounds. Economic attractiveness, public attention or high expected activity are no substitute for governance capability.
- Official economic indicators
- Central-bank and regulatory decisions
- Elections and referendums with official outcomes
- Publicly documented corporate events
- Terrorism and the killing of identified persons
- Escalation of war involving harmful incentives
- Subjective or non-reproducible events
- Micro-events easily influenced by participants
04 / CONTROLLED SANDBOX
Limit, monitor, stop.
A sandbox is no substitute for authorisation or legal assessment. It is a controlled architecture for testing mechanics, conduct, data quality and governance before any expansion.
05 / EVIDENCE & CONTEXT