SOURCE: Speedwell Weather

Speedwell Weather

September 30, 2015 04:04 ET

Speedwell Weather Announces the Launch of the Speedwell-Market

HARPENDEN, UNITED KINGDOM--(Marketwired - September 30, 2015) - Speedwell Weather today announced the release of the new Speedwell-Market platform. The Speedwell-Market is designed to help facilitate weather hedging for energy market participants by providing data and tools for sixty key markets in the USA, Europe and Australia. Contracts based on HDD, CDD and Cumulative Average Temperature for monthly and seasonal structures are shown.

For each market the following data, tools, and documentation are available:

Data

  • Cleaned historical data (daily maximum and minimum temperature).
  • Recalibrated data which adjusts historic observations for discontinuities such that the time series is in-line with current reporting conditions.
  • Real Time Monitor for detecting observation discontinuities in real-time
  • Settlement Data (daily maximum and minimum temperature).
  • Settlement Certificates showing final settlement values for each contract type for each month for each reference site.

Tools

  • Access to the Speedwell-Market Futures Dashboard showing modelled fair- value price estimates, forecast pricing impact, and forecast delta impact.
  • Access to model-based prices and volatility data to assist any requirements for bi-lateral margining.
  • Access to SWSConnect web-based pricing tool.
  • Speedwell-Market Data Feed Notifications.

Documentation

  • Settlement Data specifications - Data delivery schedule and quality control methods used for the production of Settlement Data.
  • Contract Definitions - Contract specifications detailing data sources and calculations.
  • Reference site metadata - Weather station identification and reporting conventions for each market.

David Whitehead, Co-CEO, said: "Speedwell Weather is committed to increasing the transparency and liquidity across the weather risk market. The Speedwell-Market platform has been designed to support weather risk transfer across a range of different contracts for a variety of different periods. As the dominant provider of Settlement Data for parametric weather risk contracts worldwide, we are keen to support the trading of the more standardized energy-market based contracts which remain an important part of the weather risk market by making tools, historic data and Settlement Data available for no charge".

"Speedwell-Market is the first stage of a major new initiative bringing together Speedwell's unrivalled library of weather data, Settlement Data services, and Speedwell's messaging layer and SWS software tools which we will be rolling out in the next 12 months", according to Michael Moreno, Co-CEO and CTO.

More information is available on the Speedwell website (www.speedwellweather.com).

About Speedwell Weather:

Founded in 1999, Speedwell Weather provides quality weather data, weather forecasts, software, and consultancy. From offices in the UK and the USA we serve clients world-wide in sectors including weather-risk management, energy, Insurance, and agriculture. Our data products include SuperPack® which provides unlimited access to our thousands of high quality world-wide weather data sets. Speedwell Weather is the dominant settlement agent for parametric weather risk contracts world- wide.