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Chicago Mercantile Exchange to list European weather contracts

The Chicago Mercantile Exchange (CME) has started offering European weather derivatives, referenced on five cities’ temperatures.

The exchange has now listed 20 futures contracts, including heating degree-daycumulative average temperature futures. Maryland-based Earth Satellite Corp,which specialises in the development and application of remote sensing and geographicinformation technologies, is providing settlement data, as it does for the CME’sexisting weather derivatives.

Original intent
However, it does not appear to have

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