HedgeStreet to list new M&A contracts that include News Corp., Microsoft, Sirius

By Lisa Kerner

Charlotte, N.C., May 17 - The HedgeStreet Exchange said it will list seven new contracts on May 25 based on the following potential combinations:

• Sirius Satellite Radio and XM Satellite Radio;

• Microsoft and Yahoo!;

• News Corp. and Dow Jones;

• Hershey and Cadbury;

• Deutsche Borse and International Securities Exchange;

• New York Stock Exchange and International Securities Exchange; and

• Nasdaq and Philadelphia Stock Exchange

The new M&A contracts are binary options valued at $100 each that traders can "buy" if they believe a merger or acquisition will occur by Sept. 28, or "sell" if they believe it will not occur by that date.

The buyer earns $100 if the deal occurs, and the seller earns $100 if the deal does not occur, by Sept. 28.

"Individual investors can now take direct positions on a variety of potential corporate merger or acquisition events, at a low cost and with very limited risk, on The HedgeStreet Exchange," chairman and chief executive officer Stephen Race said in a company news release.

"We are very proud to be pioneering new trading vehicles that afford ordinary traders a wide range of opportunities for profit and diversification."

Liquidity on the exchange is provided by professional market makers including Susquehanna International Group and DRW Trading Group.

San Mateo, Calif.-based HedgeStreet is a U.S. regulated exchange that lets online investors trade innovative financial instruments based on the outcome of economic events.

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