CME snowstorm contracts stuck in the drifts

[scandal 951]

Snow futures! Get yer snow futures! :dance:

In case anyone wants to trade these suckers:

Contract definition is here http://www.cmegroup.com/trading/weather/sn...ifications.html

Tickers are:

Boston - SBV/SBH

New York - SXV/SXH

Chicago O'Hare International - SWX/SWJ

Minneapolis International - BVX/BVJ

Detroit International - EKX/EKJ

New York LaGuardia - FGX/FGJ

http://newsblogs.chicagotribune.com/burns-...the-drifts.html

CME snowstorm contracts stuck in the drifts

You might think weather like this would be a boon for CME Group's snowstorm contracts, but so far the business forecast calls for barely a flurry.

Introduced in 2006 and expanded as of Dec. 7, these so-called binary options -- explained here -- are meant to help cities, insurers and other companies manage their snow-removal risks.

"Just look out your window right now," a CME spokesman says. "There is a monetary risk associated with it."

As of Thursday evening, however, CME reported only one trade so far -- on Dec. 22, brokered by a unit of OTC Global Holdings on behalf of a reinsurance company and a Midwest supplier worried about the weather in Detroit.

Why not more snow clients, especially with so much of the stuff blanketing cities targeted in the contracts, including Chicago?

Obviously, we need more snow.

[Hilarious Clinton 452]

lol. sweet