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HEDGESTREET LAUNCHES $100 CONTRACTS ON MOST ACTIVE MARKETS
EXCHANGE SIMPLIFIES, REDUCES TRADING FEES
SAN MATEO, CA, July 11, 2006 -- In response to growing customer demand for access to larger contracts, HedgeStreet.com, the nation's first government-regulated online futures trading market for binary and futures contracts, today announced a range of $100 contracts on its most active markets including crude oil, gas-at-the-pump, metals and currencies.
HedgeStreet members can now trade a $100 Crude Oil Binary contract offered in a spot (1.5 day) trading format. This contract replaces the previously traded $10 Crude Oil contract. In addition, the company also launched new $100 Weekly Futures in Gold, Silver, Crude Oil, Gasoline, and currency pairs EUR/USD and USD/YEN. These are tradable Monday through Friday and replace HedgeStreet's previously offered $30-50 monthly capped futures contracts.
"We've listened to customer feedback and, in response, designed contracts specifically intended to provide members who are trading in our most vibrant markets with new profit opportunities and greater flexibility," said Bill McIntosh, VP Marketing for HedgeStreet. "The $100 payout and the narrower range lead to increased leverage - for example, in crude oil, a $1 increase in the underlying asset equates to a $10 payout."
In addition, HedgeStreet has revised its Binary NonFarm Payrolls contracts, also moving to a $100 payout, and added strikes on the lower end in order to be able to account for changing market conditions and a potentially slowing job market.
The company also announced a simplified fee structure. Now, trading fees (in and out each) will be one percent (1%) of the total contract value: $0.10 for a $10 contract, and $1.00 for a $100 contract. The previous volume-based trading fee schedule and $.30 per contract settlement fee have been eliminated. However, new members can still trade 30 days for free.
For more information, visit HedgeStreet at www.hedgestreet.com.
About HedgeStreet
HedgeStreet Inc. is the only U.S. based person-to-person market that lets online investors trade innovative financial instruments based on economic events and price movements. HedgeStreet offers its members online futures trading, online currency trading and online commodity trading opportunities. 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).
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