Newark Calif.-based Risk Management Solutions (RMS), a leading provider of products and services for the management of natural hazard risk, announced that it has released version 4.0 of its Climetrix(R) weather derivatives trading and risk management system.
Climetrix is an Internet-based application that provides integrated access to all of the data, pricing tools, and portfolio management capabilities that are needed to participate in the weather derivatives market. The new system expands risk management features and adds hourly temperature and precipitation data that allows “greater usability for weather traders.”
RMS noted that new features of Climetrix 4.0 include the following:
— A completely redesigned contract entry and pricing screen that provides optimal usability and speed for weather traders;
— User-defined Short Term VaR metrics for portfolio risk management;
— A customizable counterparty credit risk report;
— Discounting functionality tied to automatically updated interest rate feeds for 27 international currencies;
— Ability to perform “quick analyses” for rapid access to pricing information based on user-defined pricing models.”
“Climetrix is now used by more than half of the companies who are involved in trading weather derivatives in the United States and Europe,” stated Steve Jewson, RMS director of business development. “Over the last year we have spent a significant amount of time working with our clients to determine what they need to be more efficient and profitable in their weather businesses. Climetrix 4.0 is the result.”
The announcement also noted that RMS and its partner Earth Satellite Corporation “continue to expand their commercial database of cleaned global temperature data. Recent additions include cleaned hourly temperature and precipitation data for 200 U.S. locations, temperature and precipitation data for 108 Canadian locations, temperature data for New Zealand, and precipitation data for Germany.”
More information about Climetrix can be accessed at: http://wwwclimetrix.com.