Settlement Data Provider
Speedwell Settlement Services Limited is the provider of Settlement Data. Settlement data can be requested on the weatherXchange® Platform as part of post-trade services. As execution does not currently happen on the weatherXchange platform, it is necessary to request Settlement Data separately.
Settlement Data is weather data used to calculate the value of a weather index on which a Weather Protection Contract has been based.
Settlement Data is provided according to a Settlement Data Contract which defines the detail of the methodology used including which reporting convention is being used, methods for detecting gross errors, methods for addressing any missing days and the cycle on which the Settlement Data is provided and eventually "frozen".
Settlement Services provide the following:
- Settlement Contract
- Settlement Data feeds
- Alerts service notifying counterparties of any data problems
- A Settlement Certificate is issued confirming the value of the index at the end of the Contract Period