CME will list weather derivatives on five European cities next week. The exchange will list 20 new weather derivatives for Amsterdam-Schiphol, Berlin, London, Paris and Stockholm. The contracts will include monthly heating degree day futures, seasonal heating degree day futures, monthly cumulative average temperature futures and seasonal cumulative average temperature futures on each of the European sites. Earth Satellite Corporation (EarthSat) will provide CME with settlement data for the European weather contracts, as a definitive agreement with the Met Office has not yet been forthcoming, despite a letter of intent signed in August.
Chicago Board Options Exchange has entered into an agreement with American Stock Exchange (Amex) to develop back-up trading...