The weatherXchange® Platform introduces new Hedgers to Broker-Advisors.
When a Hedger has reached an initial possible hedge structure they may seek further advice. They can do this by contacting you, the Broker-Advisor. You will then be able to contact them directly and if necessary discuss their request. It is possible to upload the Hedger's structure on to your account on weatherXchange to facilitate easy discussion. Any charges for your services are discussed between you and the Hedger in the normal way.
There is no charge for the client introduction or your use of the weatherXchange® Platform as a Broker-Advisors who may also want to send your own RFPs to Protection Sellers on behalf of your clients. However, it is necessary that Broker-Advisors have the appropriate weather data licences. Please contact us for more information.
There are three categories of Broker-Advisors:
- Full-Service Broker-Advisors: to fall under this category you will have access to the underlying data and are able to advise fully on weather hedging in many locations worldwide. As a Full-Service Broker-Advisors you are required to be an internationally based organisation with competence and regulatory permissions in multiple regions worldwide with extensive experience of structuring, advising and intermediating in the placing of index-based weather risk in a wide range of product types.
- Secondary Market Broker-Advisors: to be classified as this category you will need to be able to intermediate and advise on standardised energy market related sites available through the Speedwell-Market initiative . Click here for more information on the Speedwell-Market initiative
- Regional-Specialist Broker-Advisors: you will be a specialist broker with regional experience and regulatory permissions who is able to advise on local needs in specific sectors such as construction or agriculture. You will be assigned to specific geographies only.
To be classified as a Broker-Advisor on the weatherXchange platform you will have experience in the index-based weather risk market and will need to be regulated by the relevant financial authorities.
Please contact us for more information.