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HEDGESTREET'S NEW HOUSING PRICE CONTRACTS DESIGNED TO MITIGATE REAL-ESTATE RISK, DEPRECIATION
New Fuel-Based Hedgelets Round Out Latest Energy Offering
SAN MATEO, Calif., May 19, 2005 -- HedgeStreet Inc. today announced that its market participants may now hedge or speculate on the direction of home values in major U.S. real estate markets, as well as the domestic supply of crude oil and natural gas. HedgeStreet Inc. is the first U.S. government-designated online financial market that lets traders directly buy and sell innovative financial instruments based on economic events.
The new Housing Price Hedgelets are tradable as both Yes/No and Variable contracts with 3-month and 6-month durations and are benchmarked against the National Association of Realtors (NAR) reported Median Sales Price of Existing Single-Family Homes in Chicago, Los Angeles, Miami, New York, San Diego and San Francisco.
John Nafeh, CEO of HedgeStreet said: "For most Americans, their home is their single largest investment and, as such, the desire to reduce risks surrounding that asset is important. Housing Price Hedgelets provide a unique way for them to hedge against depreciation in the value of a home, or conversely, speculate on the degree to which housing prices will appreciate."
Hedgelets are unique financial instruments that do not exist on any other market.
HedgeStreet also said it has rolled out Natural Gas, Crude Oil Inventory and Natural Gas Inventory Hedgelets, as well as quarter and year-end Crude Oil and Gasoline contracts, allowing traders to take positions on future prices of natural gas, crude oil and gasoline, and on the stock levels of crude oil and natural gas.
"These fuel-based Hedgelets give the millions of Americans who rely on oil and natural gas to heat their homes an affordable means to hedge against rising winter costs," added Nafeh.
HedgeStreet is available to any qualified individual with a $100 initial deposit and an Internet connection, and is currently offering 30 days free trading.
About HedgeStreet
HedgeStreet Inc. is the only U.S. designated market that lets online investors trade innovative financial instruments based on economic events. A designated contract market (DCM) and a registered derivatives clearing organization (DCO), HedgeStreet is subject to regulatory oversight by the Commodity Futures Trading Commission (CFTC). For more information, visit www.hedgestreet.com.
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