RMS EXPANDS WEATHER DATABASE IN U.S., EUROPE

Risk Management Solutions (RMS), a provider of products and services for managing natural hazard risks, has expanded the weather databases in its ClimetrixTM weather derivatives trading and risk management system to include new temperature data for France, Sweden, Norway, and the U.S. The new data will be added to the Climetrix system for the main trading hub in each country—Paris, Stockholm and Oslo, enabling users to “access official data for these locations for use in pricing, portfolio risk management, and final settlement of weather derivative contracts.” RMS said it has also added “a supplemental database of cleaned historical data” for 200 stations in the U.S.