HedgeStreet has announced the launch of new real estate and energy contracts as well as an initiative to attract market makers to the upstart exchange.
HedgeStreet, an electronic market launched last October listing a variety of traditional and non-traditional contracts for retail traders, introduced three- and six-month contracts based on National Association of Realtors (NAR)'s reported median sales price of homes in Chicago, Los Angeles, Miami, New York, San Diego and San Francisco. The contracts, called Hedgelets, are binary options allowing traders to take a simple yes or no position on whether prices will rise or fall in the time-period chosen.
CEO John Nafeh told FO Week that the...