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HEDGESTREET'S ENERGY CONTRACTS ATTRACT GROWING NUMBERS OF TRADERS
SAN MATEO, CA, August 17, 2005 -- As record oil and gas prices take an increasing toll on Americans' pocketbooks, a growing number of individual traders are making use of a new market for hedging and speculating on everyday energy costs at HedgeStreet.com.
By opening an account with as little as $100 and trading in increments of $10, HedgeStreet's members can trade a full array of energy "Hedgelets" including anticipated prices on crude oil, gasoline, California gasoline, diesel and natural gas, as well as data on crude oil and natural gas inventories.
During the first 7 months of the year, energy contracts accounted for 31% of HedgeStreet's trading volume - 42% in July. Crude oil prices are the most actively traded Hedgelets -- 23% of HedgeStreet volume so far this year. Energy Hedgelet volume increased 195% in the second quarter over the first quarter, and 39% in July from the previous month. In July, 66% of HedgeStreet's active members traded energy contracts
"It's clear that individuals are increasingly concerned about rising energy prices, and it's also clear that growing numbers of traders are finding HedgeStreet's markets useful for taking positions on where these prices are headed," said John Nafeh, founder and CEO of HedgeStreet.
Hedgelets are unique financial instruments that do not exist on any other market. HedgeStreet, a market regulated by the Commodity Futures Trading Commission (CFTC) and in its first year of operation, also offers low-cost Hedgelet trading on economic outcomes such as government economic reports, interest rates, foreign currencies, regional housing prices, and USDA crop reports.
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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