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HedgeStreet, Inc. Receives CFTC Market Designation
And Registration as a Derivatives Clearing Organization
San Mateo, CA, 18 February 2004– HedgeStreet, Inc. announced today that it has been designated as a contract market and registered as a derivatives clearing organization by the Commodity Futures Trading Commission (CFTC).
“We are gratified that the CFTC, after a long and intensive process,
has approved HedgeStreet’s exchange for trading,” said John
Nafeh, Ph.D., Founder and CEO of HedgeStreet. “We thank the Commission
for their vision and the CFTC Staff for their diligent work. We are excited
that we will soon introduce an entirely new type of designated contract
market – an Internet-based, non-intermediated retail exchange offering
small size contracts –
to consumers nationwide. HedgeStreet’s mission is to bring risk
management through derivatives trading to Main Street.”
HedgeStreet, Inc., which is planning to launch its exchange during the
second quarter of 2004, is a privately held company.
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