CME Group S&P/GRA Commercial Real Estate Index products
In September 2007, CME Group announced it was teaming with Global Real Analytics , a group involved in commercial real estate index products, to launch U.S. Commercial Real Estate futures and options contracts based on the GRA Commercial Real Estate Indexes (CREX)™. Trading began on October 28, 2007.
S&P/GRA Commercial Real Estate Indices (SPCREX) allow investors and speculators to protect against or gain exposure to the $5.3 trillion U.S. commercial real estate market. It features 10 quarterly cash-settled contracts based on property type and geography. The listings include a composite index; indexes on property types consisting of retail, office, apartments and warehouse properties; and five U.S. regional indexes covering Desert Mountain West, Mid-Atlantic South, Northeast, Midwest and Pacific West.
GRA CREX data are based on recorded transactions and are revised monthly.
|S&P GRA Commercial Real Estate Index futures|
|Contract Size||$250 times S&P/GPA Commercial Real Estate Index (SPCREX)|
|Pricing Unit||One point = $250|
|Contract Months||First 20 contracts in the March quarterly cycle. March, June, September & December|
|Last Trading Day||Need LTD rules!|
|Note: This contract is electronic ONLY -- no open outcry|
|No Open Outcry||Electronic|
|Trading Hours||N/A||Sun/Thurs 5:00 pm-2:00pm (CT) the next day|
|S&P GRA Commercial Real Estate Index options|
|Trade Unit||One futures contract|
|Point Value||One point = $250|
|Tick Value||Regular 0.10=$25.00; Cabinet 0.05=$12.50|
|Option Months||First 20 contracts in the March quarterly cycle. March, June, September & December|
|Strike Prices||1 point intervals above & below market price|
|Open Outcry||No Electronic Market|
|Trading Hours||Mon/Fri 8:00am-2:00pm (CT); block or EFP trading permissible at any time||N/A|
|Price Limits||Regular 0.10=$25.00; Cabinet 0.05=$12.50||N/A|
- "Global Real Analytics”. Global Real Analytics.