Credit Suisse First Boston entered into a two-year agreement with the National Council of Real Estate Investment Fiduciaries to create an exchange for trading derivatives contracts based on the NCREIF Property index, said Blake Eagle, CEO. CSFB's exchange would be the first real estate derivatives market in the United States. It would allow institutional investors to manage risk and rebalance real estate portfolios by betting on index returns, Mr. Eagle said. If successful, CSFB will have developed the second derivatives product worldwide; the first is a year-old real estate derivatives market in the United Kingdom based on the Investment Property Databank index. About $150 billion in assets are pegged to the NCREIF Property index.