Pending all relevant CFTC regulatory review periods, please be advised that effective on trade date August 25, 2021, CME Group will implement various rule amendments to all weather futures and options contracts. For additional information, please see SER-8830 dated August 10,2021.
From heat waves to arctic cold outbreaks, weather often has a significant impact on business. CME Group’s temperature-based index futures and options provide the tools to help you manage weather-related risk.
Managing Climate Risk in the US Financial System
Report of the Climate-Related Market Risk Subcommittee, Market Risk Advisory Committee of the US Commodity Futures Trading Commission
Managing Climate Risk with CME Group Weather Futures and Options
A degree day is a measure of how much a day’s average temperature deviates from 65 degrees Fahrenheit (18 degrees Celsius), a baseline selected by utility companies since furnaces and air conditioners are turned on above and below this benchmark.
HEATING (HDD) FUTURES AND OPTIONS |
CITY CODE |
NOV-MAR STRIP |
DEC-FEB STRIP |
|---|---|---|---|
Atlanta |
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Chicago |
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Cincinnati |
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New York |
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Dallas |
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Las Vegas |
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Minneapolis |
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Sacramento |
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Portland |
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London |
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Amsterdam |
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Tokyo |
A degree day is a measure of how much a day’s average temperature deviates from 65 degrees Fahrenheit (18 degrees Celsius), a baseline selected by utility companies since furnaces and air conditioners are turned on above and below this benchmark.
COOLING (CDD) FUTURES AND OPTIONS |
CITY CODE |
MAY-SEP STRIP |
JUL-AUG STRIP |
|---|---|---|---|
Atlanta |
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Chicago |
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Cincinnati |
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New York |
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Dallas |
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Las Vegas |
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Minneapolis |
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Sacramento |
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Portland |
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London |
G0K* |
G0N* |
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Amsterdam |
G2K* |
G2N* |
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Tokyo |
G6K* |
G6N* |
*Please refer to Cumulative Average Temperature (CAT) tab
The CME Cumulative Average Temperature (CAT) Index is the accumulation of daily average temperatures over a calendar month, with the accumulation period beginning on the first calendar day of the contract month and ends with the last day of the contract calendar month. These contracts are available from May through September, allowing businesses to hedge against monthly volatility by tracking average daily temperature in a given city.
CAT FUTURES AND OPTIONS |
CITY CODE |
MAY-SEP STRIP |
JUL-AUG STRIP |
|---|---|---|---|
London |
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Amsterdam |
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Tokyo |
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Quick Links
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Weather resources
Research and analysis
Industry Links
WRMA The Weather Risk Management Association's mission mission is to enhance public awareness and understanding of the weather risk environment, promote the management of weather risk, and provide a platform for market participants to engage in the growth of the industry through market, policy, and regulatory developments.
Visit WRMA
MDA EarthSat is the premier source of specialized weather products for global weather risk analysis. Users of these products include such varied industries as energy, food, retail, insurance, banking, and government. Our products appeal to anyone who must manage and minimize their weather risk.
Visit MDA EarthSat
Speedwell Weather is a UK-based firm that provides world-wide weather data, forecasts, software and consulting services to the energy and weather derivative markets. The firm is a recognized leader in the weather markets, with a strong following in Europe and a growing presence in other parts of the globe.
Visit Speedwell Weather
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