Royal Bank of Scotland has carried out the first Canadian property derivatives trade.

The trade was executed using the Investment Property Databank’s) All Property Index for Canada – the key commercial property index for Canada.

‘The Canadian market is a highly sophisticated and transparent real estate market and there is no reason why we should not see further property derivative trades here,’ said Charles Harris, global head of property derivatives at RBS. ‘The UK market which has grown from virtually nothing three years ago to £15bn of total trades executed to date, shows how clients are embracing this new concept.’

RBS is recognised as a pioneer in the development of property derivatives. The Canadian deal was brokered by Tradition Property.