“Until now, the only way people could get this information was by phoning a broker,” said Steve Jewson, director of business development at RMS in London. “We wanted to provide an electronic data service that is independent of the market.”
RMS said it produces the data by surveying, on a daily basis, leading weather derivatives traders that represent a majority of the market. Jewson added that the data is not representative of values that can actually be traded but are indicative of what a broker should offer.
The data can be accessed from RMS’s weather risk website, climetrix.com.