Zipspeed launches new daily-settled weather index

Atlanta-based weather risk management company Zipspeed is to launch a new weather index which it hopes will draw financial companies into the US weather risk market on a greater scale than before.

The Normal-Departure Index (Nordix) will be the first weather index to be marked-to-market on a daily basis, says Daniel Parker, managing director of Zipspeed. “There is an acute need for a product that is settled on a daily basis in order encourage financial institutions to trade in a market that

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