CME lists weather contracts for seven new cities

by Artemis on May 19, 2008

The CME is expanding it’s locations for weather trading all the time. Today they’ve announced the addition of Oslo, Norway; Little Rock, Ark.; Los Angeles, Calif.; Colorado Springs, Colo.; Jacksonville, Fla.; Raleigh, N.C.; and Washington DC which brings the total number of locations for city temperature contracts to 42 (broken down as 24 in the U.S., 10 in Europe, six in Canada and two in Japan).

The CME provides contracts on temperature, snowfall, frost and hurricanes but not yet on general precipitation. Does anyone know if they have any objectives to cover rainfall as well? There must be many leisure related organisations who could benefit hugely from this.

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