Mergers & Acquisitions Contracts to launch for first trade on May 25, 2007
Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, as amended (the "Act"), and §40.2 and §40.6 of the regulations promulgated by the Commodity Futures Trading Commission, the HedgeStreet Rule and Instrument Committees have approved the listing of seven (7) new Classes of Contracts with an Underlying that is based on the outcome of a particular event; specifically whether a particular merger, acquisition or consolidation will occur or will not occur by a specified date ("M&A Contracts"). HedgeStreet will list the following M&A Contracts:
3. News Corp/Dow Jones
5. ISE/Deutsche Borse
7. NASDAQ/Philadelphia Exchange
Additionally, Hedgestreet will implement new Rule 5.12(m) under its current Chapter 5 entitled "Method for Members to Trade Contracts".
The Rule additions will become effective at the start of business on Friday, May 25, 2007.
Click here to view the rule additions.