CME launches weather contracts for Australia
CME Group is expanding its suite of temperature-based weather derivatives products to include Australian cities Melbourne, Sydney and Brisbane.
The new listings will begin trading on February 23 and include Heating Degree Day (HDD) and Cooling Degree Day (CDD) contracts on both monthly and seasonal futures and options. The contracts will trade on a monthly basis from January through December and will be priced in Australian dollars.
"Like our other temperature-based products, these Australian contracts enable industries that face business
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