The Financial Times on U.S. Futures Exchange (USFE):
[...] The revamped USFE was formed from the remnants of Deutsche Börse-controlled Eurex US, which lost a bruising battle with the CBOT in 2005 after challenging the Board of Trade’s largest product group. The rollout of the “binary” contract is viewed as an opportunistic move [*] ahead of the formal launch of the USFE, now controlled by Man Financial. The move came as the CBOT battle intensified on Thursday. Kevin Davis, chief executive of Man Financial, plans to target retail investors with USFE’s initial product offerings before widening the complex to attract institutions and hedge funds. Binary futures offer an all-or-nothing payout on a range of defined outcomes, such as the CME winning the bid battle or even the CBOT being acquired by a third party. The USFE plans to extend the franchise by offering futures on the relationship between, for example, gold and silkver prices or the dollar-yen rate. [...]
Mr Davis also hopes to tap into demand from traders [**] seeking a regulated venue for the type of products offered by online sites such as Intrade, whose product line-up ranges from the outcome of business deals and sporting contests to the American Idol reality TV show. Traders on Thursday viewed the USFE’s CBOT product as a “sly” move and cast doubt on how much traction it would secure. However, the late-April launch was not viewed as publicity stunt as the CME and the ICE bedded down for what could be a protracted battle for the second-largest US futures exchange.
[*] “opportunistic”??? Isn’t that what event derivatives exchanges are all about?
[**] “traders”??? Traders just need a credit card to register with InTrade, whereas they are required to disclose their pedigree when registering with HedgeStreet or USFE. 
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