WeatherXchange has announced Coriolis Capital as a new provider of indicative pricing as part of the platform’s Instantaneous Indicative Pricing service.
The platform’s Instantaneous Indicative Pricing helps streamline the structuring process for hedgers and broker-advisors by providing an immediate idea of the costs of a structure without the need to approach the Protection Seller directly.
“The participation of Coriolis in Instantaneous Indicative Pricing is a great benefit to hedgers of weather risk,” said David Whitehead Co-Chief Executive Officer of WeatherXchange.
“Through the application of technology, the WeatherXchange Platform provides increased efficiency in structuring and price discovery.
“Coriolis, with their long history in this market, will now be able to efficiently share their market expertise and pricing with a larger audience. We are excited by the opportunities this brings to users of index-based weather protection,” he added.
For Protection Sellers, Instantaneous Indicative Pricing increases their online visibility through its 24/7 presence and by reducing the workload and time required to close a weather transaction.
“Coriolis has a long history operating in this market,” says Diego Wauters, Chairman and CEO of Coriolis Capital; “as one of the first funds operating in this space we have seen many market changes over the years.
“We are excited by the opportunities that weatherXchange provides. We see this type of technological advancement to be part of the natural evolution of the market.”
Coriolis is the latest firm to partner with weatherXchange as an indicative pricing provider, following on from recently added Mitsui Sumitomo subsidiary, MSI GuaranteedWeather, and Sompo’s Global Weather Division.
