Spectron launches online weather trading

Energy market intermediary Spectron has launched an online platform for trading weather derivatives.

London-based Spectron said it already has a strong voice-broking presence in the weather market, but added that its new platform should increase market efficiency.

“Not only will our clients see a broad, deep market with a great choice of possible trades, but also, through the instantaneous dissemination of pricing information, more efficiently manage their risk exposure to weather,” claimed Andrew Stephens, Spectron Group’s chief operating officer.

Paul Bouch, a weather trader at Spectron in London, said the trading screen is similar to a typical swaps screen showing bids and offers. Bouch added that it also has a 'chat' function for online negotiation and offers electronic position reports.

London-based Spectron was established in 1988 as a broker of crude oil. It has since diversified into natural gas, electricity, petroleum products, metals and weather derivatives.

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