WRMA proposes standardised data for weather derivatives trading

vanderm-jpg

The Weather Risk Management Association (WRMA) plans to publish a new weather data protocol to provide the weather derivatives market with a standardised data format for trading. Although the Washington-based trade body promises it will improve efficiency, some traders remain ambivalent about adopting the standard. The idea of an industry-wide weather derivatives standard was initially conceived by Peter Brewer, during his time at the now defunct UK-based consultancy Weather Risk Advisory. “