The Participants on weatherXchange® are as follows:
Protection Sellers are companies that sell weather risk protection. They may be Insurance/Reinsurance companies or specialist investment funds. Requests for prices can be sent automatically to one or more selected Protection Sellers through the weatherXchange® Platform. Protection Sellers can also be contacted directly by Hedgers to establish a direct dialogue.
Trading Participants are Hedgers who are interested in not just sending but also receiving RFPs for exchange-traded sites. These RFPs will normally be energy-market related.
Hedgers on weatherXchange may require specialist advice related to weather risk hedging. While weatherXchange staff are available to help with technical questions related to using the Platform, they are not able to provide Investment Advice. Hedgers can however request the assistance of existing Broker-Advisor specialists in the field. Broker-Advisors can also help by giving the Hedger anonymity. The financial basis for the provision of this advice is negotiated between the Hedger and Broker-Advisor directly.
Settlement Data is scientifically and objectively quality-controlled weather data where any missing data points are filled. Settlement Data for standard weather risk contracts that can be structured on the weatherXchange® Platform is provided by Speedwell Settlement Services Limited. This includes the underlying weather data relating to single-site indexes, baskets and gridded data. For more complex structures such as those which integrate commodity prices ("quantos"), the commodity price component is provided by specialist third parties.
Calculation Services provide the necessary information to manage a weather contract post-trade and understand how its value and risk metrics change on a day-by-day basis. Calculation Services are provided by Speedwell Calculation Services Limited.