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Newark, Calif. – June 3, 2002 – Risk
Management Solutions (RMS), the world’s leading provider of products
and services for the management of natural hazard risks, today
released version 3.1 of its Climetrix® weather derivatives trading
and risk management system. The release includes significant
advances in functionality, benefiting all types of participants in
the weather market. In particular, the system’s new ‘open’ database
design allows users to import and model temperature, rain, snow,
wind, and other types of weather data for any location worldwide.
With this new capability, Climetrix can be used by end-users or
originators to structure and price a broad range of potential
transactions.
Steve Jewson, director of business development, commented, “As the
weather market has grown, there has been increasing interest in
weather risk management products among non-energy firms whose risk
is often not related to temperature. This new version of Climetrix
provides market participants with the flexibility to analyze
transactions covering many different types of weather risk while
tracking their complete portfolio risk in one integrated system.”
Climetrix v3.1 also provides several other new features, including:
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Streamlined ‘one-click’ analysis for rapid pricing with multiple,
customizable models
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An ability to directly define and model straddles and strangles as
well as uncapped weather derivative contracts
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Non-parametric de-trending methods for analyzing weather data that exhibits significant non-linear trends over the last 20 to 50 years
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Flexible reports allowing users to customize the risk metrics and
risk breakdowns included in daily portfolio valuation reports
In addition to all of the new capabilities in the Climetrix
software, today RMS and partner EarthSat also released an updated
version of U.S. enhanced historical data. The two companies have
continued to advance their methodologies for analyzing measurement
discontinuities in historical data, and the latest dataset
incorporates changes to the data for a number of actively-traded
stations.
Climetrix is an Internet-based application that provides integrated
access to all of the data, pricing tools, and portfolio management
capabilities necessary for successful participation in the weather
market. The application can be accessed at
www.climetrix.com.
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
website 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 owners.
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