TFS Energy hosts first Italian weather derivatives trade and Dutch auction
Interdealer broker TFS Energy has completed the first Dutch auction of weather derivatives in Rome, Italy.
TFS' US weather derivatives division completed the auction on behalf of a client who, the brokerage said, was looking to offset its risk, and gave no further details.
TFS says that offers were solicited for cumulative average temperature calls in Rome for the May–September 2008 time period. The auction had a total of $40 million in notional risk placed, and TFS says it was oversubscribed in terms
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