GFI Colliers, the joint venture between GFI Group and Colliers International, announced today that it has brokered the first long-dated Asian OTC property derivative option in risk management strategy for the real estate asset class which provides a relatively qHong Kong. The trade, between Goldman Sachs and Lehman Brothers Global Real Estate Group, was based on The University of Hong Kong, Hong Kong Island Residential Price Index (HKU-HRPI). This index, created with derivatives in mind, tracks general residential price movement on Hong Kong Island.
Guy Saidenberg, managing director and Head of Asia Exotics Trading, Goldman Sachs, said, "This trade is the first long-dated risk transfer through Hong Kong property derivatives and highlights Goldman Sachs commitment to this asset class in the region."
Mark Gabbay, managing director and co-head of Lehman Brothers Global Real Estate Group in Hong Kong said, "We’re pleased to have executed this tailored option trade which is the first of its kind in the region. We view this as a key transaction in ouruick and cost efficient way to manage exposure. We look forward to also working with other counterparties to further expand the product applications."
