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HedgeStreet Expands Instruments Offering
with Year-End and Daily Hedgelet Contracts
San Mateo, Calif., December 8, 2004 - HedgeStreet Inc., the nation's first financial market that lets online investors trade innovative financial instruments based on economic risks in their daily lives, announced today the availability of new Hedgelets that let retail and institutional investors hedge or speculate on year-end 2004 and daily levels of key economic variables.
The exchange's special Hedgelets that expire at year end are gasoline, gold, Euro-Dollar and Dollar-Yen. Available on a recurring basis are "spot" or daily Hedgelets for gold, Euro-Dollar, Pound Sterling-Dollar and Dollar-Yen.
Said John Nafeh, Ph.D., founder and chief executive officer, "This is an opportunity for investors to apply their insights to certain end-of-year outcomes. Will the dollar continue its decline and will gas stay above $2 per gallon? These and other questions are common among many investors who now can trade on their beliefs."
HedgeStreet, which opened in October, is available to any qualified individual with a $500 initial deposit and an Internet connection. The exchange's unique instruments or Hedgelets come in contract sizes of just $10. The first category of Hedgelets feature products similar to classic types of options products like currencies, interest rates and commodity-based products. Exclusive to HedgeStreet are Hedgelets that let retail traders take views on unique, underlying indices, including the price of gas, real estate values, mortgage rates and inflation, as well as economic activities such as retail sales.
About
HedgeStreet
HedgeStreet Inc. is the nation's first financial market that lets online investors trade innovative financial instruments based on economic risks in their daily lives. A designated contract market (DCM) and a registered derivatives clearing organization (DCO), HedgeStreet is regulated by the Commodity Futures Trading Commission (CFTC). HedgeStreet is a privately held company based in San Mateo, Calif. For more information, visit www.hedgestreet.com.
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