UK weather market resists bank’s exit

The departure of Paris-based bank BNP Paribas from the weather derivatives market in January is likely to have little effect on the UK weather sector, say industry sources.

“They were not particularly big players,” says weather broker Olivia Goldsmith at energy broker GFInet in London. “They spent a lot of their time marketing to end-users, and will not be missed in the primary market.”

BNP Paribas said on January 13 that it would be pulling out of the growing weather derivatives market. A

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