Goldman readies itself for property derivatives push

Goldman Sachs is preparing to launch a fully fledged market-making operation for over-the-counter US residential property derivatives. "We've always felt there was a pressing need for it. Real estate is one of the largest asset markets in the world, but it's a market that has lacked derivatives," says Rajiv Kamilla, head of new products trading at Goldman Sachs' structured products business in New York.

According to Federal Reserve estimates, the US residential housing market was worth $22.2

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