【单选题】

In October 2002, Goldman Sachs andDeutscheBank (1) a new electronic market (www. gs. com/econderivs) for economic indices that (2) substantial economic risks, such as nonfarm payroll (a measure of job availability) and retail sales. This new market was made possible by a (3) trading technology, developed by Longitude, a New York company providing software for financial markets, (4) the ParimutuelDigitalCallAuction. This is "digital" (5) of a digital option: ie, it pays out only if an underlying index lies in a narrow, discrete range. In effect, Longitude has created a horse race, where each "horse" wins if and (6) the specified index falls in a specified range.By creating horses for every possible (7) of the index, and allowing people to bet (8) any number of runners, the company has produced a liquid integrated electronic market for a wide array of options on economic indices.

Ten years ago it was (9) impossible to make use of electronic information about home values. Now, mortgage lenders have online automated valuation models that allow them to estimate values and to (10) the risk in their portfolios. This has led to a proliferation of types of home loan, some of (11) have improved risk-management characteristics.
We are also beginning to see new kinds of (12) for homes, which will make it possible to protect the value of (13) , for most people, is the single most important (14) of their wealth. The Yale University-Neighbourhood ReinvestmentCorporation programme, (15) last year in the city of Syracuse, in New York State, may be a model for home-equity insurance policies that (16) sophisticated economic indices of house prices to define the (17) of the policy.Electronic futures markets that are based on econometric indices of house prices by city, already begun byCity Index and IG Index inBritain and now (18) developed in the United States, will enable home-equity insurers to hedge the risks that they acquire by writing these policies.
These examples are not impressive successes yet.But they (19) as early precursors of a technology that should one day help us to deal with the massive risks of inequality that (20) will beset us in coming years.
A．made
B．called
C．asked
D．read