Risk.net

Chicago Mercantile Exchange to list European weather contracts

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 been the exchange’s original intention to use Earth Satellite Corp. The CME had signed a non-bindi