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Stock impact report

Worsening Weather Is Igniting a $25 Billion Market [Yahoo! Finance Canada]

BGC Group, Inc. - Class A (BGC) 
Last bgc group, inc. - class a earnings: 8/2 04:20 pm Check Earnings Report
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. Most Read from Bloomberg 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. ADVERTISEMENT “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, supp Show less Read more
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