Contact Information: Media Contacts Bettina Klinger Radar Logic Incorporated (212) 965-0300 Nancy Tamosaitis Vorticom, Inc. (212) 532-2208
RPX(TM) Trading Volume Exceeds One Billion Dollars
| Source: Radar Logic, Inc.
NEW YORK, NY--(Marketwire - June 11, 2008) - Since the inception of trading on September
17, 2007, volume in the Residential Property Index (RPX) market has passed
the one billion dollar threshold, according to Radar Logic Incorporated,
the data and analytics company upon whose Daily Prices the index is based.
The company reports that flows represent positive two-way activity, and
participation includes a variety of end users.
According to Michael Feder, President and CEO of Radar Logic, "In light of
what has been happening on Wall Street and the housing market over the past
6 months, we view this level of activity as very encouraging. With all the
obvious distractions facing traders and their customers, having reached
this milestone so quickly is evidence of RPX's relevance to and interest in
the capital markets. Activity in both swaps and forwards continues to grow
among both traders and end users."
Radar Logic, a real estate data and analytics company, calculates and
publishes the Radar Logic Daily™ Prices. The prices track housing values
for major U.S. metropolitan areas and are the basis of the Residential
Property Index™ (RPX™), a market that enables real estate to be
traded as a liquid asset, via property derivatives marketed by major
financial institutions. RPX allows real estate and financial professionals
to manage opportunity and risk, invest in real estate values without owning
physical assets and effectively analyze markets using a consistent metric:
price per square foot.
For more information on Radar Logic and the RPX, including licensed
dealers, please visit www.radarlogic.com.