Banks have been enquiring about licensing the FTSE EPRA/NAREIT global real estate indices for over-the-counter options and swaps. “It’s a broad license, allowing for the use of our intellectual property for use in these kinds of transactions,” said Bob Ebert, executive vp of commercial sales in New York.
The indices take their name from FTSE’s partners in the venture, the European Public Real Estate Association and National Association of Real Estate Investment Trusts. So far, 10 dealers have licenses to use the index, said Ebert, declining to identify them.
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