Chicago-based derivatives exchange Nadex (North American Derivatives Exchange) was founded in 2004 as the HedgeStreet Exchange, which was the first CFTC regulated internet-based futures and derivatives exchange.
By Paolo Palazzi-Xirinachs
Wednesday, April 3, 2013
Two years later in 2006, the company had two major investment partners which were the Chicago Board Options Exchange which purchased a minority stake in HedgeStreet in February 2006 and assisted in marketing the company’s exchange traded binary options, under the “hedgelets” designation. In March 2006, Norwest Venture Partners provided a multi-million dollar investment in the company.
In 2007, UK based IG Group announced intent to acquire HedgeStreet and later in the year completed the purchase of the company.
Soon after the acquisition, IG Group renamed HedgeStreet to its current name, Nadex. The exchange has continued to major on exchange traded binary options and maintains a different stance to the range of other binary options companies in the market.
In this week’s Executive Interview, Forex Magnates speaks to Nadex’s President and CEO Yossi Beinart on the intrinsic detail surrounding Nadex’s corporate profile and direction.
Read the full interview at Forex Magnates
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