Worsening Weather Is Igniting a $25 Billion Market [BNN Bloomberg (Canada)]
BGC Group, Inc. - Class A (BGC)
Last bgc group, inc. - class a earnings: 8/2 04:20 pm
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Source: BNN Bloomberg
To friends, she said he was “a stockbroker that does something with the weather.” Malinow couldn't really object — he knew most people had no clue about financial contracts based on things like sunshine, rainfall and wind. That's beginning to change. Against a backdrop of rising climate volatility and social shifts, demand for weather derivatives is surging. Average trading volumes for listed products jumped more than 260% in 2023, according to the CME Group, with the number of outstanding contracts currently 48% higher than a year ago. And that publicly traded corner could make up as little as 10% of all activity, according to industry estimates; outstanding derivatives may be worth as much as $25 billion based on notional value. “There's a lot more trajectory to our business right now,” says Malinow, the founder and chief executive officer of advisory firm Parameter Climate. “The heightened fragility from direct weather volatility, supply-chain issues, inflation, geopolitics. It
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BGC
Earnings
- 5/1/24 - Miss
BGC
Sec Filings
- 5/9/24 - Form 10-Q
- 5/8/24 - Form 4
- 4/30/24 - Form 8-K
- BGC's page on the SEC website