RMS Releases Version 4.0 of Its Climetrix(R) Weather Derivatives Trading and Risk Management System
Expansion of Risk Management Features and Addition of Hourly Temperature and Precipitation Data Allows Greater Usability for Weather Traders
NEWARK, Calif., March 8, 2004 -- Risk Management Solutions (RMS), the world's leading provider of products and services for the management of natural hazard risk, today released version 4.0 of its Climetrix(R) weather derivatives trading and risk management system.
Climetrix is an Internet-based application that provides integrated access to all of the data, pricing tools, and portfolio management capabilities that are needed to participate successfully in the weather derivatives market.
Some of the new features available in Climetrix 4.0 include:
* A completely redesigned contract entry and pricing screen that provides optimal usability and speed for weather traders
* User-defined Short Term VaR metrics for portfolio risk management
* A customizable counterparty credit risk report
* Discounting functionality tied to automatically updated interest rate feeds for 27 international currencies
* Ability to perform "quick analyses" for rapid access to pricing information based on user-defined pricing models
"Climetrix is now used by more than half of the companies who are involved in trading weather derivatives in the United States and Europe," said Steve Jewson, director of business development at RMS. "Over the last year we have spent a significant amount of time working with our clients to determine what they need to be more efficient and profitable in their weather businesses. Climetrix 4.0 is the result."
In addition to the new capabilities available in Climetrix 4.0, RMS and partner Earth Satellite Corporation continue to expand their commercial database of cleaned global temperature data. Recent additions include cleaned hourly temperature and precipitation data for 200 U.S. locations, temperature and precipitation data for 108 Canadian locations, temperature data for New Zealand, and precipitation data for Germany.
More information about Climetrix can be accessed at: http://www.climetrix.com/.
Risk Management Solutions is the world's leading provider of products and services natural hazard risk management. More than 400 leading insurers, reinsurers, trading companies, and other financial institutions rely on RMS models to quantify, manage, and transfer risk. Founded at Stanford University in 1988, RMS serves clients today from offices in the U.S., Europe, and Japan. For more information, visit our website at http://www.rms.com.
Climetrix and RMS are registered trademarks, and the RMS logo is a trademark of Risk Management Solutions, Inc. All other trademarks are property of their respective owners.
SOURCE Risk Management Solutions Web Site: http://www.climetrix.com http://www.rms.com