MacroMarkets LLC is a growth company on a mission to add liquidity to valuable economic interests and important asset classes throughout the world. Our principal focus: to cultivate new markets which facilitate investment and risk management via innovative financial instruments. The firm is led by a seasoned management team with over 100 years of collective Wall Street experience with structured products, exchange-traded funds, housing markets, mortgage- and asset-backed securities. To date, MacroMarkets LLC has been awarded 11 patents for MacroSharesTM around the globe. MacroShares are an exchange-traded, fully-collateralized product innovation that can be applied to commodities, real estate, and economic indicators. Unlike exchange-traded funds (ETFs), MacroShares do not require acquiring or managing an “underlying”, i.e., financial instruments such as stocks, swaps, futures contracts, etc. in order to replicate index performance. Unlike with exchange-traded notes (ETNs), investors bear no issuer credit risk with MacroShares. Although the underlying values of MacroShares are designed to adjust according to the movement of the issue’s index, they are not “index tracking” products in the traditional sense – like most financial instruments that include a long-term performance objective (e.g., stocks, bonds, futures contracts), the market prices of MacroShares are naturally higher or lower than underlying value at any moment in time. Among other factors, the resulting premia and discounts in MacroShares’ prices reflect consensus market expectations of where the index will be upon the security’s termination date. Three pairs of publicly-traded MacroShares have been issued (and subsequently terminated) through 2009; one pair gathered $1.6 billion in assets and traded an average of over 3 million shares per day at its pre-termination peak. Also part of its mission to create new, more efficicent and complete financial markets, MacroMarkets was a key catalyst in launching the U.S. house price futures and options markets on the Chicago Mercantile Exchange (CME), and with partners at Fiserv Inc. and Standard & Poors, in establishing the S&P/Case-Shiller Home Price Indices as the most credible, globally-recognized benchmark for U.S. home prices.

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