Property Investment Market attracts Tradition
The Property Investment Market (TPIM), the world’s first property exchange, announced on April 13 a new agreement with the property derivatives arm of Tradition Financial Services, one of the world’s largest brokers of financial products.
The deal between the two companies will involve them working together on joint marketing and other activities with the aim of growing their respective businesses as they utilize their positions in the residential property market, with TPIM’s exchange function in actual real estate assets and Tradition’s intermediation of property derivatives.
Chief executive of TPIM Stephen Kenny says: "This deal enables us to benefit from Tradition’s vast experience in financial products," while Peter Sceats from Tradition adds: "We value the potential of the residential sector in the growth of the property derivatives market. This agreement places Tradition and TPIM in a position to exploit the relationship between the derivative and the physical asset on behalf of both sets of customers."