Mixed forecast for weather

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IntesaBCI, Italy’s largest bank, has shelved plans to trade weather derivatives this year, in a move that could prompt closer scrutiny of weather trading performance at other banks. IntesaBCI is the second bank to withdraw from the weather risk market this year, following French bank BNP Paribas’ exit in January. But the two are going against the tide: four other institutions have just entered the market.

IntesaBCI created a New York-based structured products team last July as part of its

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