RMS Expands Weather Database in U.S., Europe

January 7, 2003

Risk Management Solutions (RMS), a leading provider of products and services for managing natural hazard risks, has expanded the weather databases in its Climetrix(tm) weather derivatives trading and risk management system to include new temperature data for France, Sweden, Norway, and the U.S.

“In partnership with Earth Satellite Corporation (EarthSat), RMS has acquired both historical climate data and ongoing daily feeds for the three European countries directly from each country’s national meteorological service,” said the announcement. 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., “doubling the number of stations available in Climetrix to 400.” The new capability will provide “weather derivative dealers and end-users with a much higher density of locations throughout the country to choose from in structuring transactions.”

RMS noted that following these recent updates it now provides “quality-controlled historical and ongoing weather data for more than 500 weather stations globally.”

More information and a complete station listing, can be obtained at the database Web site http://www.climetrix.com/ProductServices/WeatherData.

Was this article valuable?

Here are more articles you may enjoy.