The Chicago Mercantile Exchange has announced that it will be launching Snowfall Futures and options on futures to start trading on February the 26.
The CME says,
“The impact of weather can influence regional and local markets, playing a critical role in the overall economy,” said CME Managing Director of Products and Services Rick Redding. “Since 1999, CME has been offering temperature-based futures products to help market participants manage weather-related risks. Backed by CME Clearing, CME weather futures provide the safety and soundness investors are seeking to manage their weather-related risk.”
Read the rest of the story at the CME Website…