RMS Adds Daily Information Feeds to Climetrix Weather Derivatives System.Business Editors MENLO PARK Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Calif.--(BUSINESS WIRE)--Nov. 1, 2000 Risk Management Solutions (RMS) today announced the release of version 2 of Climetrix(TM), the leading weather derivatives Weather derivatives are financial instruments that can be used by organizations or individuals as part of a risk management strategy to reduce risk associated with adverse or unexpected weather conditions. trading and risk management platform. The new version represents a major advancement in functionality, including daily temperature data and complete mark-to-model analytical capabilities for dynamically tracking the risk to individual weather derivative Weather Derivative An instrument used by companies to hedge against the risk of weather-related losses. The investor who sells a weather derivative agrees to bear this risk for a premium. If nothing happens, the investor makes a profit. contracts and portfolios. The release of version 2 coincides with the November 1 start date of standard winter season contracts. In the new version, RMS has extended the analytical tools and simulation models in Climetrix to allow users to analyze the risk profile of a contract at any point in time once the contract period has started. In support of this functionality, RMS has built into Climetrix daily feeds of cleaned prior day temperature data and short and medium range forecasts for 200 U.S. weather stations from RMS' strategic partner Earth Satellite Corporation. The data in these feeds is accessible by all licensed clients at the start of each trading day In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. . "With this release, the Climetrix application provides both traders and end-users with mission-critical capabilities to monitor the day-by-day progression of their weather derivative positions. This enables both highly informed trading decisions and as well as compliance with internal risk management controls," commented Paul VanderMarck, managing director of RMS' weather risk division. Climetrix is an Internet-based application that provides a comprehensive range of cleaned and enhanced weather data, sophisticated pricing tools, and portfolio management capabilities for the weather derivatives market. The application can be accessed at www.climetrix.com. About RMS Risk Management Solutions (www.riskinc.com) is the world's leading provider of products and services for the quantification and management of property catastrophe, natural hazard, and complex business risks. Its clients include leading insurers, reinsurers, industrial corporations, governments, and financial institutions. Founded at Stanford University Stanford University, at Stanford, Calif.; coeducational; chartered 1885, opened 1891 as Leland Stanford Junior Univ. (still the legal name). The original campus was designed by Frederick Law Olmsted. David Starr Jordan was its first president. in 1988, RMS employs over 600 people worldwide. RMS is owned by DMG (Disk iMaGe) The file format used in the Macintosh for distributing Mac software. Mac install packages appear as a virtual disk drive on the Mac as if you had inserted a CD or floppy disk. Information, a division of the Daily Mail and General Trust Daily Mail and General Trust plc (DMGT) is one of the UK's largest media companies and has interests in national and regional newspapers, television and radio. While the majority of the company's activities are based in the UK, it does have worldwide operations. plc media enterprise. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion