CME Group real estate products
CME Group began listing cash-settled housing futures and options in May 2006, and S&P/GRA Commercial Real Estate Indices (SPCREX).
based on the S&P/Case-Shiller® Home Price and Composite Indices . The 10 cities include Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York City, San Diego, San Francisco and Washington D.C., in addition to the composite index containing all 10 cities. The Housing indices were developed in cooperation with MacroMarkets LLC. These products make it possible to trade U.S. real estate values in either up or down markets.
Originally, "housing futures," the first of two real estate product under the CME Real Estate umbrella, had contract months that extended a relatively short time into the future. In September 2007, that time frame was extended out to 60 months.
Contract months extending out 18 months are listed on a quarterly cycle of February, May, August and November. Contracts listed 19 to 36 months out are available on a biannual schedule of May and November contracts. An annual November listing schedule applies to contracts listed 37 to 60 months out into the future.
S&P/GRA Commercial Real Estate Indices (SPCREX)
Ten quarterly cash-settled contracts based on property type and geography will be available. The listings include a composite index; indexes on property types consisting of retail, office, apartments and warehouse properties; and five U.S. regional indexes covering Desert Mountain West, Mid-Atlantic South, Northeast, Midwest and Pacific West. Combinations of these indexes are also being considered. GRA CREX data are based on recorded transactions and revised monthly. Trading of CME U.S. Commercial Real Estate indexes will occur on CME Globex®, the exchange's electronic trading platform