to Launch Suite of BRIXX™ Commercial Real Estate Futures on MGEX
PRINCETON, NJ and MINNEAPOLIS, September 15, 2021 / PRNewswire / – MIAX, creator and operator of high performance securities exchanges, products and services, will launch cash settled futures contracts on the BRIXX ™ Commercial Real Estate (CRE) indices developed by Advanced Fundamentals. The first contract to be listed is the futures contract on the BRIXX Retail Index, which is expected to trade on 4th of October, 2021. Three more BRIXX CRE index futures are expected to be listed in the fourth quarter of 2021. Cash settlement options on the BRIXX CRE indices will be introduced on MIAX, also planned for the fourth quarter of 2021. The introduction of the futures and options contracts are still subject to regulatory approval.
“BRIXX Futures offer investors real-time access and synthetic exposure to the physical real estate market.”
BRIXX futures and options offer investors targeted exposure to the $ 16 trillion Commercial real estate market, including the residential, retail, office and hospitality commercial real estate sectors. BRIXX CRE indices measure real-time real estate returns and are valued in real-time using public market data collected from. aggregate $ 750 billion in real estate values. The design also allows the BRIXX CRE indices to be priced in terms that real estate professionals know and understand, such as: B. Price per room key (hospitality) or price per square meter (residential, office, retail).
“We are excited to launch the new BRIXX CRE futures based on Advanced Fundamentals’ suite of index products that measure property prices without the price lag seen in traditional CRE indices,” said Thomas P. Gallagher, Chairman of MGEX and Chairman & CEO of MIAX. “These products offer professional real estate investors an innovative tool that provides real-time access and synthetic exposure to the physical real estate market.”
Cash settled futures contracts are listed on MGEX via the CME GLOBEX® platform and cleared by MGEX, a wholly owned subsidiary of MIAX’s parent company Miami International Holdings.
Jesse Stein, Managing Principal of Advanced Fundamentals, said, “Until now there has never been a successful real estate derivative in the US. Advanced Fundamentals has conducted extensive research and development in the market and created BRIXX CRE indices to address inherent defects in existing products our index methodology allows us to eliminate external factors that have a negative impact on price calculation and derive a more realistic value for the property portfolio. ”
John Smollen, Executive Vice President and Head of Exchange Traded Products and Strategic Relations at MIAX, said, “We believe that real estate funds and institutional professionals will be drawn to BRIXX futures and options, and that the products have the potential to be an entirely new asset class for commercial real estate offering real estate derivatives for the industry. Advanced Fundamentals invested significant resources in the design of the BRIXX CRE indices, drawing significant industry feedback throughout the design process, and we look forward to bringing this innovative suite of derivatives for the industry to the Bring to market. ”
Oleg Solodukhin, CEO of dxFeed, said: “BRIXX is a unique set of indices that use real-time data from the public markets to generate real-time through no fault property valuations to offer this innovative product to the general public.”
Further information on the BRIXX CRE indices and BRIXX CRE derivatives can be found at https://www.miaxoptions.com/brixx/overview.
Contact person for corporate communication:
Andy Nybo, Senior Vice President, Chief Communications Officer
MIAX’s parent company, Miami International Holdings, Inc. owns the Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX Pearl®), MIAX Emerald, LLC (MIAX Emerald®), the Minneapolis Grain Exchange, LLC (MGEX) and the Bermuda Stock Exchange (BSX).
MIAX, MIAX Pearl and MIAX Emerald are national securities exchanges registered with the Securities and Exchange Commission (SEC) that use MIAX’s industry-leading technology and infrastructure to enable their member firms to trade US-listed options. MIAX serves as the exclusive stock exchange for options with cash settlement on the SPIKES® Volatility Index (ticker: SPIKE), a measure of the expected 30-day volatility of the SPDR® S&P 500® ETF (SPY). In addition to options, MIAX Pearl enables cash shares to be traded through MIAX Pearl Equities ™.
MGEX is a registered exchange with the Commodity Futures Trading Commission (CFTC) and a Notice Registered Securities Futures Product Exchange with the SEC. MGEX serves as the exclusive market for a variety of products including Hard Red Spring Wheat and SPIKES Futures. In addition, MGEX is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, offering DCM, DCO and cash market services in a range of asset classes.
The BSX is a leading electronic international securities market regulated by the Bermuda Monetary Authority (BMA) that specializes in the listing and trading of capital market instruments such as stocks, debt securities, funds, hedge funds, derivative warrants and insurance linked securities. As a full member of the World Federation of Exchanges and affiliated member of the International Organization of Securities Commissions, the BSX is recognized worldwide, including by the SEC.
MIAX offices and National Operations Center are located in Princeton, New Jersey, with further offices in Miami, Florida, Minneapolis, MN, and Hamilton, Bermuda.
To learn more about MIAX, visit www.MIAXOptions.com.
To learn more about MGEX, visit www.mgex.com.
To learn more about the BSX, visit www.BSX.com.
Disclaimer and cautionary note regarding forward-looking statements
The press release does not constitute an offer, solicitation, or sale of any securities of Miami International Holdings, Inc. (together with its subsidiaries, the company) and does not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer applies; Advertising or selling would be illegal. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results or strategies and are generally escaped from words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected”, “expected”, “draft”, “possibly” or “projected”. You are cautioned that such statements are subject to a variety of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements, including the risk that actual results may differ materially from those projected The forward-looking statements may differ.
All third party trademarks (including logos and symbols) referenced by the company remain the property of their respective owners. Unless expressly indicated as such, Company’s use of any third party marks does not imply any relationship, sponsorship, or endorsement between the owners of those marks and the Company. Any references by the company to third party trademarks serve to identify the corresponding third party goods and / or services and are considered to be nominatively fair use within the meaning of trademark law.
View original content to download multimedia: https://www.prnewswire.com/news-releases/miax-to-launch-suite-of-brixx-commercial-real-estate-futures-on-mgex-301377773.html