In May 2003, Goldman, Sachs & Co. began offering cash-settled covered warrants on house prices in the United Kingdom, based on the Halifax House Price Index and traded on the London Stock Exchange. In October 2004, Hedgestreet.com began offering “hedgelets” on real estate prices in US cities – contracts that pay out if the rate of increase in home prices based on the OFHEO Home Price Index falls within a pre-specified range.
建立不动产衍生品市场的努力迄今为止也只取得了有限的成功。高盛公司于2003年5月开始在英国推出针对房价的现金备兑认股权证（cash-settled covered warrants）。这一产品是基于“Halifax房价指数”开发的，并在伦敦股票交易所进行交易。在2004年10月，Hedgestreet.com开始提供针对美国城市不动产价格的“hedgelets”—一种当基于“OFHEO房价指数”的房价增长率达到某一既定幅度时就会赔付的合同。