HedgeStreet Exchange announced last week it will launch on 1
October and unveiled a suite of 17 options contracts ranging
from currencies, gold and interest rates to health care,
transportation, employment and real estate.
The privately held California company will be an
Internet-based market offering binary options it calls
"Hedgelets". One contract, for example, allows traders to take
a position on whether prescription drug prices will rise above
a certain level by expiry. Real estate options focus on
mortgage rates and the several major urban real estate price
indices. Its employment category includes contracts on non-farm
payrolls and initial jobless claims.
"There are 22m brokerage accounts in the US and less than
100,000 of them trade derivatives," said Russell Andersson,
HedgeStreet's vice president of instrument origination, and
co-founder. "So we think there is a large portion of the other
21.9m that are likely to participate over time, provided it is
financially and technically within their grasp to do so and the
methodology used is easy to understand."
This article is available exclusively to subscribers
Please log in to continue reading.
Not yet a subscriber?
Click here to take a free trial.
Already have an account? |
Please fill in your details below and a customer service representative will contact you.