Swiss Re Licenses RMS’ Weather Derivative System

Newark CA-based Risk Management Solutions (RMS), a leading provider of products and services for the management of natural hazard risks, announced that Swiss Re Financial Products Corp.(SRFP), a Swiss Re affiliate that specializes in capital market products, has licensed its Climetrix(TM) weather derivatives trading and risk management system.

“SRFP’s weather derivatives trading operation in New York will use Climetrix as a key component of its platform for pricing and portfolio risk management, said RMS’ announcement. It described the system as “an Internet-based application that provides integrated access to all of the data, advanced pricing tools, and portfolio management capabilities necessary for successful participation in the weather market.”

Mark Tawney, managing director of SRFP’s weather business, stated that, “Climetrix will be helpful for getting our weather desk up and running as quickly as possible. Once we begin trading, the system will be useful to us for valuing complex transactions which are becoming more common in the market and for accurately tracking our complete portfolio risk.”|”swiss, re, licenses, rms’, weather, derivative, system