Weather risk management and weather derivatives trading news

The National Commodity and Derivatives Exchange (NCDEX) has now launched India’s first parametric weather derivative product, with the RAINMUMBAI contract expected to help market participants hedge the financial exposure of rainfall extremes and variability in the city of Mumbai and surrounding area.

Abaxx Technologies, a start-up financial software and market infrastructure company, has announced that Abaxx Exchange has expanded its suite of weather derivatives that it offers from wind to solar power, with German solar futures now available for trading.

Flood specialist JBA Risk Management has launched an enhanced version of its Global Flood Model, which introduces a variety of key features, such as enhanced hazard maps, a wide range of future climate event sets, and improvements to both processing speed and exposure disaggregation.

Augment Risk, the risk capital and reinsurance solutions broking firm, has expanded its Latin American platform by adding specialist weather parametric and structured weather risk transfer capabilities.

Decentralised climate infrastructure platform dClimate has announced that it has launched Tyche, a blockchain-based platform designed to facilitate insurance risk transactions, which will initially focus on catastrophe reinsurance before expanding towards energy-linked weather derivatives and collateral facilities.

Interactive Brokers’ ForecastEx platform, which allows investors to buy ‘yes’ or ‘no’ contracts based on stated outcomes for specific indicators, is currently seeing temperature contracts as the most frequently traded on the platform, according to the firm’s founder and chairman Thomas Peterffy.

A number of specialty insurers are increasingly turning to parametric insurance solutions as an effective tool to help support clean energy deployment, particularly by stabilising revenues and improving access to project finance, according to Jason Kaminsky, CEO, kWh Analytics.

Abaxx Technologies, a start-up financial software and market infrastructure company, has launched the Enwex German Wind Futures on the Abaxx Exchange, which marks the introduction of a new suite of weather derivatives.

VivoPower, a sustainable energy solutions organisation, and KWeather, a climate risk management solutions company, have signed an exclusive heads of agreement deal that will see both firms collaborate to build the world’s first WeatherCoin, a weather derivative token for climate risk management.

Vaisala, a global company that specialises in measurement instruments and intelligence for climate action, has appointed Lukas Schönach from Descartes Underwriting as European Commercial Lead for Weather Risk Management.