FTSE EPRA Nareit futures

FTSE EPRA Nareit futures are financial derivatives based on the FTSE EPRA Nareit index series, which tracks the performance of listed real estate companies and Real Estate Investment Trusts (REITs) globally. These futures contracts were introduced by derivatives exchange Eurex to provide investors with enhanced access to the listed real estate market and improved risk management tools. The FTSE EPRA/NAREIT Developed Europe Index Futures were first offered on the Euronext exchange. 
== Background ==
The FTSE EPRA Nareit index series is a collaboration between FTSE Russell, the European Public Real Estate Association (EPRA), and the National Association of Real Estate Investment Trusts (Nareit). These indexes cover approximately $3.2 trillion of the listed real estate market, which is part of the broader $36.7 trillion commercial real estate market.
Eurex Contract specifications 	Eurex Contract specifications 	Eurex Contract specifications 	Eurex Contract specifications
Product name 	FTSE® EPRA Nareit Index Futures 	FTSE® EPRA Nareit Developed Europe Index	EPRA Index Futures
Eurex product code 	FEDE 	FEEU 	FEUK
Underlying index 	FTSE® EPRA Nareit Developed Europe Index 	FTSE® EPRA Nareit Eurozone Index 	FTSE® EPRA Nareit UK Index
Contract name 	EPRA Index Futures 	EPEU Index Futures 	ELUK Index Futures
Bloomberg 	EPRA – FEDA Index 	EPEU – FEIA Index 	ELUK – FEWA Index
Contract value 	EUR 10 per index point 	EUR 10 per index point 	GBP 10 per index point
Settlement 	Cash settlement, payable on the first exchange day following the final settlement day. 	 	
Last trading day 	Last trading day is the final settlement day. Close of trading in the maturing series on the last trading day is at 16:35 CET. 	 	
Final settlement day and expiration 	Final settlement and expiration day is the 3rd Friday of each expiration month if this is a trading day at Eurex, otherwise the immediately preceding exchange day.	 	
Final settlement price 	Established by Eurex on expiration day and index value is based on closing price as calculated by FTSE International Limited. 	 	
Contract months 	The four nearest quarterly months of the March, June, September and December cycle. 	 	
Minimum block trade size (TES / Eurex EnLight)	250 	 	
Trading hours Orderbook 	07:50 –22:00 	 	
Trading hours TES 	08:00 –22:00 	 	
These contracts are cash-settled and denominated in euros.
* Euronext contract specifications
== Market Impact ==
The introduction of FTSE EPRA Nareit futures represents a significant development in the listed real estate market. These instruments offer several benefits to investors:
# Enhanced Liquidity: The futures contracts provide increased liquidity compared to direct real estate investments.
# Improved Risk Management: Investors can use these futures for hedging and risk management purposes.
# Market Access: The contracts offer easier access to the real estate market for a wider range of investors.
# Transparency: Listed real estate, as represented by these futures, offers greater transparency compared to private real estate investments.
== References ==
Category:Financial Derivatives
Category:Real Estate Investment
Category:FTSE Russell
Category:Eurex
Category:Real Estate Investment Trusts (REITs)
Category:Market Indices
Category:Investment Strategies
Category:Derivatives Market