Liffe sets up shop with property futures

07 Sep 2007

Euronext Liffe will become the first European exchange to launch property futures following US counterparts CME Group into the listed arm of the traditional OTC sector.

The futures will launch on 1 October on the Paris market and track the performance of the European real estate firms. The two new contracts are based on the FTSE EPRA/NAREIT Europe Index and the FTSE EPRA/NAREIT Euro Zone Index, which are seen as...

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“A lot of banks have spent a lot of money calculating the cheapest way to collateralise their positions, and they’ve hired some very bright mathematicians to do it. Why would they gamble all of that by using the cheapest clearing house?”

Senior rates players believe fears of a race to the bottom among clearing houses has been overstated.