The HedgeStreet Exchange plans to launch a class of futures contracts that allows investors to trade on the anticipated revenues and earnings per share of large public corporations.
   The "Corporate Action" contracts, as they are called by the exchange, have been certified by the Commodity Futures Trading Commission (CFTC) and will begin trading on June 22 and settle on the date of each company's next quarterly earnings reports.
ExxonMobile Corp. and Wal-Mart Inc. will be the first two companies tracked by the contracts.
   "We are opening opportunities for traders of every variety to hedge their risk or profit from their views on corporate financial results of companies that have profound effects on national and global economies," said Stephen Race, chairman and CEO of The HedgeStreet Exchange.
   The new contracts are binary options valued at $100 each, according to the exchange.
   HedgeStreet Inc. is a regulated online exchange in San Mateo, Calif., that allows investors to speculate on economic events and price changes. The exchange's contracts have been tied to economic variables including regional housing prices and hurricane damages.