US commercial property derivatives set for launch

The first US commercial property derivatives will launch by May this year, following the National Council of Real Estate Investment Fiduciaries' (NCREIF) licensing of four investment banks to use the NCREIF property index.

Credit Suisse, Goldman Sachs, Merrill Lynch and Bank of America were all licensed to trade financial derivatives for three years, on NCREIF's quarterly index on 5,333 US-based commercial properties.

Credit Suisse, Goldman and Merrill all expect to launch derivatives by May t

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