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Weather Risk: The Chicago Mercantile Exchange (CME) is requesting regulatory approval by the Commodity Futures Trading Commission (CFTC) to offer exchange-traded futures and options on the weather.
The futures and options contracts the CME aims to offer are temperature-related. Indexes of the Heating Degree Day (HDD) and Cooling Degree Day (CDD) products may be traded for a number of US cities, including New York, Atlanta, Chicago, Dallas and Philadelphia.
Scott Gordon, chairman of the CME said
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