US residential property derivatives start to flourish

Activity in the over-the-counter US residential property derivatives market has surged, with a growing number of investors looking to take a view on the direction of house prices. Since September 19, when the first property derivatives linked to New York-based analytics firm Radar Logic's Residential Property Index (RPX) traded, the market size has grown to more than $100 million in notional as of October 23, say dealers.

"Housing is at the forefront of everybody's mind right now because of t

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