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Newark, Calif. – Oct. 12, 2004 – Risk
Management Solutions (RMS), the world’s leading provider of products
and services for the management of natural hazard risk, today
released version 4.2 of its Climetrix® weather derivatives trading
and risk management system. The new version adds capabilities for
pricing and tracking contracts based on hourly or daily
precipitation data, and includes standard databases of cleaned
historical data and automatic feeds of hourly and daily values from
the previous 24-hours. Daily forecasts from Atmospheric and
Environmental Research, Inc. (AER), CustomWeather, and WSI
Corporation are now available in Climetrix, in addition to existing
forecast feeds provided by Earth Satellite Corporation. The upgrade
also includes new charts to help clients visualize the financial
impact of each incremental trade added to a portfolio.
“To meet the risk management needs of the increasingly sophisticated
weather market end-user, it is becoming critical to offer weather
contracts that have finer resolution, for example indexed to hourly
data,” said Martin Malinow, Senior Managing Director at XL Weather
and Energy. “Support of structures based on hourly weather data in
Climetrix will allow users to model and price increasingly
complicated weather deals in a matter of minutes.”
According to Steve Jewson, director of weather business development
at RMS, “Climetrix allows our clients to see the spread of contract
valuations that result from different modeling assumptions and price
any deal available in the market. In addition, the inclusion of
weather forecasts from AER, CustomWeather, and WSI in version 4.2
allows our clients to see how the spread of contract valuations are
affected by different weather forecasts.”
More information about Climetrix can be accessed at:
http://www.climetrix.com/.
Climetrix provides integrated access to all of the data, pricing
tools, and portfolio management capabilities that are needed to
participate successfully in the weather derivatives market.
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 AER
Founded in 1977, Atmospheric and Environmental Research, Inc. is an
award-winning environmental research and consulting company
addressing the research and science application needs of
governmental and industry clients, from the oceans to the planets,
from the integration of meteorological systems through the
assessment of risk. In addition to its Lexington, Mass.,
headquarters, AER has offices in Omaha and San Francisco. For more
information, visit the company web site at
www.aer.com.
About CustomWeather, Inc.
CustomWeather, Inc. is a San Francisco based provider of syndicated
weather content that combines the worlds of technology and weather.
CustomWeather generates local weather forecasts for over 200
countries worldwide, establishing it as the industry leader for
global location-based coverage at both the U.S. and International
levels. CustomWeather provides sophisticated weather products to
leading companies in a variety of industries including media,
energy, travel, wireless, and the web. For more information visit
www.customweather.com or check the weather at www.myforecast.com.
About WSI
WSI Corporation is the world's leading provider of weather-driven
business solutions for professionals in the energy, aviation, and
media markets, and multiple federal and state government agencies.
WSI is headquartered in Andover, Massachusetts with offices in
Birmingham, England, and is a wholly owned subsidiary of Landmark
Communications. More information about WSI can be found at
www.wsienergycast.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
Jim Marren
TorranceCo.,New York
1-212-786-6133
jmarren@torranceco.com
Sarah Goodall
Risk Management Solutions, London
+44 (0)20 7256 3815
sarah.goodall@rms.com
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