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HedgeStreet to list Germany 30 Binary Options based on DAX® Equity Index Futures
CHICAGO, IL - HedgeStreet, Inc., the nation's first government-regulated online futures trading market for binary options, today announced that it will be offering its first binary option based on an Equity Index Future. Beginning November 3, 2008, HedgeStreet members will have the opportunity to trade Germany 30 binary options on DAX Equity Index Futures.
Like other HedgeStreet products, the Germany 30 binary options will be offered in weekly and daily increments. HedgeStreet will settle the Germany 30 binary options to an expiration value calculated by HedgeStreet based on trade prices of the DAX Futures contract traded on the Eurex® exchange. * For the contract specifications, click here.
Yossi Beinart, CEO of HedgeStreet, said, "As we continue our efforts to make new and innovative products available to our members, the addition of the Germany 30 binary option further enhances HedgeStreet's product offerings. Enhancements such as this, paired with the opportunity to trade the other commodity and FX binary options on HedgeStreet, continue to build upon our unique place in the industry."
Daily Germany 30 binary option contracts will expire each day at 11:30am (ET), while the weekly contracts will expire at 11:30am (ET) each Friday (excluding holidays). The Germany 30 binary options will also be available for trading during evening sessions from 6:00pm to 9:00pm (ET) Monday through Thursday.
* Eurex® and DAX® are registered marks of Deutsche Börse AG. HedgeStreet, Inc. is not affiliated with the Eurex or Deutsche Börse AG, and neither Eurex nor its affiliates sponsor or endorse HedgeStreet, Inc. or its products in any way. In particular, the HedgeStreet Germany 30 Binary Option Contracts are not sponsored, endorsed, sold or promoted by Eurex or Deutsche Börse AG.
About HedgeStreet
HedgeStreet owns and operates the HedgeStreet Exchange, which allows online investors to trade innovative financial instruments. A designated contract market and a registered derivatives clearing organization, HedgeStreet is subject to regulatory oversight by the Commodity Futures Trading Commission.
HedgeStreet is a wholly-owned subsidiary of IG Group and is headquartered in Chicago, Illinois. For more information, visit www.hedgestreet.com
About IG Group
IG Group is a UK-based financial services firm. IG Group is listed on the London Stock Exchange (symbol: IGG.L), and is a member of the FTSE 250 index.
IG Group has trading operations in the UK, Australia, France, Germany, Spain, and Singapore.
Warning: Forward Looking Statements
This announcement contains forward-looking statements, including such statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements concern or may affect future matters, such as HedgeStreet's future economic results, business plans and strategies, and are based upon the current expectations of the HedgeStreet management. They are subject to a number of risks and uncertainties that might cause actual results and events to differ materially from the expectations expressed in the forward-looking statements. Forward-looking statements include statements typically containing words such as "intends", "expects", "anticipates", "plans", "estimates". Factors that could cause or contribute to differences in current expectations include, but are not limited to, regulatory developments, competitive conditions, technological developments and general economic conditions. HedgeStreet assumes no responsibility to update any of the forward-looking statements contained in this announcement, whether as a result of new information, future events or otherwise, except to the extent legally required.
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