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Newark, CA - May 3, 2001 - Risk
Management Solutions (RMS) today announced the release of version
2.2 of Climetrix®, the leading weather derivatives trading and risk
management system. The new version incorporates several enhancements
to the system's modeling capabilities and expands the range of
contract types that can be analyzed. In particular, users can now
define and model contracts based on all types of event indexes in
addition to the broad range of standard and exotic contract types
that were previously supported in Climetrix. Event indexes, which
provide weather derivative buyers with protection against
occurrences of specific events such as several consecutive days with
temperatures above or below a critical threshold, are becoming more
common as the weather market develops.
Also included in the version 2.2 release is an update to the
databases of cleaned and enhanced historical U.S. weather data that
have been developed by RMS' strategic partner Earth Satellite
Corporation (EarthSat). Under a program of ongoing weather station
monitoring and research, EarthSat and RMS have identified recent
measurement discontinuities resulting from instrument movements at
several of the 200 weather stations included in the cleaned and
enhanced databases. The impacts of these discontinuities, which can
have a significant impact on weather contract valuation, are
reflected in the newly updated data. The historical databases have
also been extended to include records through March 31, 2001 so that
traders analyzing deals for the 2001 - 2002 winter season have
access to the latest available data.
Climetrix is an Internet-based application that provides integrated
access to all of the data, advanced pricing tools, and portfolio
management capabilities necessary for successful participation in
the weather market. The application can be accessed at
www.climetrix.com. Since the
initial release of Climetrix in July, 2000, more than two-thirds of
active weather market participants have licensed the system or the
underlying data.
About RMS
Risk Management Solutions is the world's leading provider of
products and services for catastrophe, weather, and enterprise 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.
Climetrix, RMS, and the RMS
logo are trademarks of Risk Management Solutions, Inc. All other
trademarks are property of their respective
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