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Newark, Calif. – Jan. 31, 2005 – Risk
Management Solutions (RMS), the world’s leading provider of products
and services for the management of catastrophe risk, today announced
the release of a new version of its Climetrix® weather derivatives
trading and risk management system. This new version contains
functionality that makes Climetrix fully compatible with
YellowJacket Software’s (YJS) Weather®, the first integrated market
data and communication system serving the over-the-counter (OTC)
weather derivatives market.
YJS Weather® streamlines the way brokers
disseminate weather derivatives quotes and provides traders with a
real-time view of the OTC weather market. By reformatting the
incompatible trade details of multiple brokers into a unified
easy-to-read system, the software program allows traders to set up
an automatic process for moving trade details to a pricing system,
saving time previously spent on manual entry.
Traders can import any number of quoted
markets into Climetrix directly from YJS Weather. Once in Climetrix,
these markets can be priced as stand-alone contracts, or priced with
respect to the trader’s current portfolio. When contracts are priced
with respect to a given portfolio, Climetrix produces tables that
show how the addition of each contract to the portfolio would change
the portfolio expected payoff, standard deviation, and VaR.
“Using Climetrix in conjunction with YJS
Weather allows me to spend more time trading and less time
deciphering and transcribing trade details,” said Jason Pickard,
Director of Trading at Constellation Energy Commodities Group (NYSE:
CEG). “The end result is that I can spend more time monitoring
market movements and identifying trading opportunities.”
According to Steve Jewson, director of weather
business development at RMS, “As YJS Weather replaces email and
instant messenger as a preferred communication platform in the
weather derivatives market, it is becoming much easier for traders
to evaluate OTC markets using Climetrix. Traders can now analyze
deals more quickly and with less effort.”
About RMS
Risk
Management Solutions is the world’s leading provider of products and
services for catastrophe risk management. More than 400 leading
insurers, reinsurers, trading companies, and other financial
institutions rely on RMS models to quantify, manage, and transfer
risk. Founded at Stanford University in 1988, RMS serves clients
today from offices in the U.S., Europe, and Japan. For more
information, visit our web site at
www.rms.com.
About Yellow Jacket Software
YellowJacket Software is the leading developer of solutions that
bring efficiency to emerging over-the-counter quoted markets. YJS
Weather, the first comprehensive communication system for the
weather derivatives market, enables brokers to transmit market
updates faster and allows traders to view real-time market activity,
access price history, or link market data directly to other
enterprise applications. YJS Weather also supports regulatory
compliance requirements by integrating with third party content
monitoring and archiving solutions. YJS clients include
broker/dealers, utilities, hedge funds and institutional investors.
For more information, visit www.yellowjacketsoftware.com.
Climetrix, RMS,
and the RMS logo are trademarks of Risk Management Solutions, Inc.
All other trademarks are property of their respective owners.
Editorial Contacts
Mark Prindle
TorranceCo, New York
1-917-517-4091
mprindle@torranceco.com
Sarah Goodall
Risk Management Solutions, London
+44 (0)20 7256 3815
sarah.goodall@rms.com
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