REAL ESTATE TECHNOLOGY

MIAX to Launch Suite of BRIXX™ Commercial Real Estate Futures on MGEX

MIAX | September 16, 2021

MIAX, creator and operator of high-performance securities exchanges, products and services, will launch cash-settled futures contracts on BRIXX™ Commercial Real Estate (CRE) Indexes developed by Advanced Fundamentals.  The first contract to be listed will be the BRIXX Retail Index futures contract which is expected to begin trading on October 4, 2021.  Three additional BRIXX CRE Index futures are expected to be listed in the fourth quarter of 2021.  Cash-settled options on the BRIXX CRE Indexes will launch on MIAX, also targeted for fourth quarter of 2021. The launch of the futures and options contracts remain subject to regulatory approval.

BRIXX futures and options will provide investors with targeted exposure to the $16 trillion commercial real estate market, including the Residential, Retail, Office and Hospitality commercial real estate sectors.  BRIXX CRE Indexes measure real-time real estate returns and are priced using real-time public market data aggregating over $750 billion in property values. The design also allows the BRIXX CRE Indexes to be priced in terms that real estate professionals know and understand such as price per room key (Hospitality), or price per square foot (Residential, Office, Retail).

We are pleased to launch the new BRIXX CRE futures, which are based on Advanced Fundamentals' suite of index products that measure real estate prices without the pricing lag associated with traditional CRE indexes, These products provide professional real estate investors with an innovative tool that affords real time access and synthetic exposure to the physical real estate market

-Thomas P. Gallagher, Chairman of MGEX and Chairman & CEO of MIAX. 

Cash-settled futures contracts will be listed on MGEX via the CME GLOBEX® platform and will be cleared by MGEX, a wholly owned subsidiary of MIAX's parent holding company, Miami International Holdings.

We believe real estate funds and institutional professionals will be attracted to BRIXX futures and options and that the products have the potential to provide an entirely new asset class of commercial real estate derivatives to the industry.  Advanced Fundamentals has devoted significant resources to the design of the BRIXX CRE indexes, incorporating considerable feedback from the industry throughout the design process and we look forward to launching this innovative suite of derivatives for the industry.

- John Smollen, Executive Vice President and Head of Exchange Traded Products and Strategic Relations at MIAX



About MIAX
MIAX's parent holding company, Miami International Holdings, Inc., owns Miami International Securities Exchange, LLC, MIAX PEARL, MIAX Emerald, LLC (MIAX Emerald®), the Minneapolis Grain Exchange, LLC (MGEX), and the Bermuda Stock Exchange. MIAX, MIAX Pearl and MIAX Emerald are national securities exchanges registered with the Securities and Exchange Commission (SEC) that leverage MIAX's industry-leading technology and infrastructure to provide U.S. listed options trading to their member firms. MIAX serves as the exclusive exchange venue for cash-settled options on the SPIKES® Volatility Index (Ticker: SPIKE), a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY). In addition to options, MIAX Pearl facilitates the trading of cash equities through MIAX Pearl Equities™. MGEX is a registered exchange with the Commodity Futures Trading Commission (CFTC) and is 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, providing DCM, DCO and cash market services in an array of asset classes. The BSX is a leading electronic international securities market regulated by the Bermuda Monetary Authority (BMA) specializing in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and insurance linked securities. A full member of the World Federation of Exchanges and affiliate member of the International Organization of Securities Commissions, the BSX is globally recognized, including by the SEC.

Spotlight

If you don't know what to look for in the ideal candidate, your search for a real estate virtual assistant can be challenging. Check out this video to learn what to look for!

Spotlight

If you don't know what to look for in the ideal candidate, your search for a real estate virtual assistant can be challenging. Check out this video to learn what to look for!

Related News

REAL ESTATE INVESTMENT, MORTGAGE AND LENDING

Roc360 Announces Completion of Finance of America Commercial Assets Acquisition

Roc360 | March 16, 2023

Roc Capital Holdings LLC (Roc360), a financial services platform for residential real estate investors, recently announced its completion of the previously announced acquisition of Finance of America Commercial (FACo) assets. Under the transaction terms, Roc360 acquired the operational assets of FACo, a Finance of America Companies Inc. division specializing in residential real estate investment loans. Roc360 will give the brand a unique logo and execute it under a new subsidiary using its current name, Finance of America Commercial. It will join Roc360's growing collection of leading real estate’s brands, such as Haus Lending, Roc Capital, Elmsure Insurance, Wimba Title, and Tamarisk Appraisals. The FACo acquisition enhances Roc360's existing origination footprint in its retail and wholesale channels, and the acquired data will contribute to Roc360's data science initiatives. In 2022, the two companies collectively financed over $4.6 billion in loans for business purposes. FACo traces its origins back over a decade to its forerunners, B2R Finance, Dwell Finance, and Jordan Capital Finance, innovators in the national private lending sector that provided fix-and-flip and landlord DSCR loans to real estate investors. It has funded over $6 billion to 9,000+ individual guarantors across 25,000+ closed loans via its broker channels and borrower-direct. Arvind Raghunathan, Founder and Chief Executive Officer of Roc360, said, "Roc360 is committed to delivering innovative products and services that help rejuvenate and deliver new and like-new energy efficient homes to America's undersupplied housing stock." He also said, "The acquisition further broadens our reach and ability to make a difference. We will continue to pursue growth opportunities, including acquisitions, that expand our ability to provide solutions to real estate investors." (Source – Cision PR Newswire) About Roc360 Roc360 is a vertically integrated platform for residential real estate investors and one of the leading creators of business-purpose loans nationally. The company was established in 2014, employs more than 300 people and funded more than $14 billion in loans through its lending subsidiaries. It is based in New York City with offices across three continents. In addition, Roc360 joined the Deloitte Technology Fast 500, a ranking of the 500 North American companies with the fastest-growing media, technology, telecommunications, fintech, life sciences, and energy tech industries in 2022.

Read More

REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT

WPM Real Estate Management Reveals Multiple Promotions as Part of Strategic Growth

WPM Real Estate Management | January 27, 2023

WPM Real Estate Management, one of the leading property management firms in the Mid-Atlantic region, has today announced several internal promotions as part of its long-term objective for growth and success. WPM's Maintenance and Construction Services Division named Michael 'Mike' Mangum Director of Operations. Mike joined WPM 14 years ago as a service technician and was elevated to Maintenance Operations Advisor in 2021 after 10 years as Service Manager in the Multifamily Real Estate Division. He's vital to WPM's operations, training, and success. His new post is part of a strategic reorganization inside the division that will allow the company to extend its service offerings and boost cross-company collaboration on maintenance and services, increasing client value. Meanwhile, Rita Dore has now been promoted to Senior Commercial Manager for WPM's Commercial Real Estate Division. She managed community associations for the Association Real Estate Division. Rita has worked in WPM's Association, HR, Commercial, and Services divisions for 17 years. She has excellent client contacts and extensive knowledge of WPM's procedures, technologies, and operations. Her leadership at WPM's Commercial Real Estate Division will help it flourish. CEO James Dahlgren, Jr. expressed, "We're excited to have Mike and Rita stepping into these leadership positions to help us grow these two divisions." "Both of these individuals bring extensive knowledge and experience to their roles and will be instrumental to WPM's continued growth and expansion," James added. (Source – Cision PR Web) Besides, Herman Martin is now the Multifamily Maintenance Operations Advisor, replacing Mike Magnum. He joined WPM in 2021 after 30 years in the profession. Herman's knowledge of the division's service demands and track record ensure continuity. This role will report to Mangum and assist with Multifamily Real Estate Division maintenance needs as part of the planned restructuring. In this context, CEO James Dahlgren, Jr. remarked, "Herman is well respected by Associates and clients alike." "I am confident he will continue to deliver on WPM's commitment to service excellence in this new role," he concluded. (Source – Cision PR Web) About WPM Real Estate Management WPM Real Estate Management manages nearly 25,000 properties and over 40,000 people in Maryland, Pennsylvania, Delaware, and Virginia. Its services include multifamily real estate management, association real estate management, commercial real estate management, along with maintenance and construction. The company brings an experienced owner's viewpoint and a proactive approach to property management to ensure that its actions and decisions add value for people living, working, and investing in its properties. Being a premier real estate management firm in the region, the company has earned the title of Accredited Management Organization®.

Read More

REAL ESTATE TECHNOLOGY, MORTGAGE AND LENDING

LoanCare Launches Portfolio Management Solution, LoanCare Analytics™

LoanCare | February 21, 2023

One of the leading national providers of mortgage loan subservicing, LoanCare, recently announced its launch of LoanCare AnalyticsTM, an all-in-one portfolio management solution. The proprietary platform supports mortgage servicing rights (MSR) investors and focuses on customer engagement, credit risk and liquidity. Fannie Mae's Economic & Strategic Research Group's January 2023 Economic & Housing Outlook Commentary shows an upward trend in continuing unemployment claims. Despite the low level, historical data indicates that a broader economic downturn may be imminent if this metric significantly shifts away from the cyclical bottom. Empowering MSR owners with real-time analytics, LoanCare recognizes the upward trend and is likely to make timely, informed decisions and act as per the requirements. LoanCare AnalyticsTM boosts portfolio management and optimization analysis with filtering and extensive views; it enables MSR owners to connect the dots through their portfolios and act at the loan level. Regardless of the company's size or team's level of expertise, LoanCare AnalyticsTM can help everyone make smarter decisions across the servicing spectrum by leveraging data analytics. With the platform, the users get to know the answers to the questions, including their opinion of buying or selling loans, what portfolio segments the operational areas should concentrate on, and answers about the optimal portfolio attributes like geography, loan type or vintage etc. About LoanCare LoanCare is a leading national provider of full-service, component, and interim subservicing for mortgage loans. The company is renowned for providing a superior customer experience through customization and ease of use. In addition, LoanCare AnalyticsTM proprietary portfolio management platform quickly identifies risks and opportunities to enable smarter servicing-wide decisions. Since its establishment in 1983, it has been offering loans to banks, credit unions, portfolio investors, and independent mortgage companies for forty years. It is part of Fidelity National Financial, a Fortune 500 company and a leading title insurance and transaction service provider to the real estate and mortgage industries.

Read More