CHARLESTON, S.C. and HARPENDEN, United Kingdom, May 10, 2018 (GLOBE NEWSWIRE) -- weatherXchange®, the platform which helps companies access index-based weather risk protection, is pleased to announce the expansion of the Instantaneous Indicative Pricing service to include zero premium swaps. The addition of indicative swap pricing will further streamline the structuring and price quoting process in the weather market.
Instantaneous Indicative Pricing allows for improved price discovery of weather hedges. Protection Sellers benefit from reduced workload associated with manual pricing as indicative prices are calculated by a software application using configurable pricing algorithms hosted on each Protection Seller’s servers. Hedgers benefit from having an indication of costs before finally contacting a Protection Seller for firm pricing. Instantaneous indicative prices are currently provided by five participating Protection Sellers: AXA Global Parametrics, Coriolis Capital Ltd, MSI GuaranteedWeather, Munich Re, and Sompo Global Weather.
“The launch of Instantaneous Indicative Pricing has been a huge success for the weather market and weatherXchange,” said David Whitehead Co-CEO of weatherXchange. “Since the launch we have seen a constant stream of new hedgers and broker-advisors approaching the market using these newly developed tools.” Michael Moreno, Co-CEO of weatherXchange added, “When we talk to users of the platform the most requested feature is the support of zero premium swaps. These structures are commonly used tools by the energy markets to hedge weather risk. This technological breakthrough will further improve market efficiency while improving the workflow of both hedgers and brokers.”
About weatherXchange
weatherXchange Limited is part of the Speedwell Weather group of companies which have been involved in the index-based weather risk market since its earliest days in 1999. weatherXchange® is an independent platform which provides free access to thousands of quality weather data sets worldwide and a user-friendly tool to simplify the design of weather protection contracts. weatherXchange links Hedgers, Broker-Advisors and Protection Sellers thereby helping businesses with weather risk to more easily access weather risk protection. The weatherXchange Platform also offers post-transaction services necessary to settle a transaction and to monitor the performance of a hedge.
For further information on weatherXchange please visit www.weatherXchange.com or contact: ClientOnBoarding@weatherXchange.com.
If your firm is experienced in the weather risk mitigation sector and is interested in working with weatherXchange as a Broker-Advisor please contact NewPartners@weatherXchange.com.
weatherXchange Limited is registered in England number 3790989 and authorized and regulated by the Financial Conduct Authority. Its registered address is Mardall House, 9-11 Vaughan Road, Harpenden, Hertfordshire AL5 4HU. weatherXchange Limited is exempt from the requirement to hold an Australian financial services licence under the Corporations Act 2001 in respect of financial services. The FCA operate under UK legislation which differs from Australian.
David Whitehead
Co-CEO
weatherXchange
418 King St, Floor 2, Charleston, SC 29403, USA
T: +1 (843) 737-4843
E: david.whitehead@weatherxchange.com
Web: www.weatherXchange.com