Residential RE Derivatives Trading Slated

Radar Logic Inc., New York, has announced that derivatives trading in the Residential Property Index market will begin Sept. 17.Trading will be based on the RPX Prices, single values representing price per square foot based on actual residential real estate transactions in 25 U.S. metropolitan statistical areas, as well as a 25-city composite. "The launch of the RPX market provides both investors and participants in the real estate industry with sophisticated tools that have not been available to them before," said Michael Feder, chief executive officer and president of Radar Logic. Dealers licensed to offer products in the RPX market include Morgan Stanley & Co.; Lehman Brothers Inc.; Merrill Lynch, Pierce, Fenner & Smith Inc.; Deutsche Bank Securities Inc.; Goldman Sachs & Co.; and Bear Stearns & Co. Radar Logic can be found online at http://www.radarlogic.com.