Russia's RTS plans to launch weather futures trading!
I am sure everybody heard about extreme low temperatures being registered all over central part of Russia these days. I think everybody should understand that rapid weather changes certainly have a big influnence on the eonomical situation of the huge country. but not paying attention to this fact, Russia's RTS is planning to launch weather fufutures trading!I suppose the following articlw would inerest You: "MOSCOW, Jan 19 (Prime-Tass) -- While all over Russia temperatures fall below minus 25 degrees Centigrade Russia's RTS Stock Exchange has started preparing to launch trading in weather futures, according to an RTS statement released on Thursday.
RTS may start trading in weather futures as early as this year, Roman Goryunov, RTS Stock Exchange's vice president said Thursday.
RTS and Russia's Federal Service for Hydrometeorology and Environment Monitoring, or Roshydromet, have started developing the specifications of the weather futures, RTS said.
Weather affects the operations of agriculture, transport, construction, electric power generation, coal mining, the oil and gas industry and others, the statement read.
Hedging risks through weather futures will allow companies to lower their financial risks resulting from adverse weather conditions, the statement read.
Despite improvements in the methods of weather forecasts, it is difficult to make long-term weather forecasts, Marina Petrova, general director of Roshydromet's weather center said. Weather futures are one efficient way to hedge risks for weather-sensitive companies, Petrova said.
The first trading in weather futures was launched on the Chicago Mercantile Exchange in 1999."
RTS may start trading in weather futures as early as this year, Roman Goryunov, RTS Stock Exchange's vice president said Thursday.
RTS and Russia's Federal Service for Hydrometeorology and Environment Monitoring, or Roshydromet, have started developing the specifications of the weather futures, RTS said.
Weather affects the operations of agriculture, transport, construction, electric power generation, coal mining, the oil and gas industry and others, the statement read.
Hedging risks through weather futures will allow companies to lower their financial risks resulting from adverse weather conditions, the statement read.
Despite improvements in the methods of weather forecasts, it is difficult to make long-term weather forecasts, Marina Petrova, general director of Roshydromet's weather center said. Weather futures are one efficient way to hedge risks for weather-sensitive companies, Petrova said.
The first trading in weather futures was launched on the Chicago Mercantile Exchange in 1999."
posted by qwert at 12:45 PM
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