Within a month, the Chicago Mercantile Exchange (CME), in collaboration with my company, MacroMarkets, as well as Fiserv and Standard & Poor’s, will launch futures and options contracts on home prices in ten cities in the United States. The contracts will be settled on the S&P/Case-Shiller Home Price Indices, which developed out of academic work that my colleague Karl Case and I pioneered almost twenty years ago.
然而，这种情况将很快改变。一个月之内，芝加哥商业交易所将与我的公司宏观市场研究公司、Fiserv公司和标准普尔一道推出美国国内10个城市的住房价格期货和期权合同。该合同将以标准普尔及蔡斯席勒住房价格指数进行结算，该指数源于我和同事蔡斯近20年前开发研究得出的学术成果。多年来我们一直争取创建住房期货，但在此之前没有一家交易所愿意采用这些指数建立一个期货市场。