Investors Trading Academy---Weather Derivative天气衍生产品

Investors Trading Academy---Weather Derivative天气衍生产品
發佈日期：2015年9月14日
Welcome to the Investors Trading Academy talking glossary of financial terms and events. Our word of the day is “Weather Derivative”
A weather derivative is a futures contract or options on that futures contract — where the underlying commodity is a weather index.
These derivatives work much the same way that interest-rate or stock index futures and options do, by creating a tradable commodity out of something that is relatively intangible. Analysts look at historical weather patterns — temperature, rainfall and other things — develop averages, and quantify the risk that weather will deviate from the average. Corporations use weather derivatives to hedge their risk that bad weather will cause a financial loss. For a cereal company, bad weather might be a drought, which would cause wheat prices to go up. For a home heating company, it could be warm days in November, which could lower demand for home heating oil. And for an amusement park it could be rain.
The cereal company and the amusement park might buy futures contracts with an underlying weather index based on rainfall. The home heating company might want contracts based on a temperature index.
Weather derivatives are different from insurance, because they’re linked to common weather events, like dry seasons, or a warm autumn, that affect particular businesses. Insurance is still required to protect against major weather events, like tornadoes, hurricanes, and floods. You can buy weather derivatives as an individual, but you’ll want to consider the trading costs carefully to ensure that your risk of loss is worth the expense.
By Barry Norman, Investors Trading Academy
欢迎来到财务条款和事件的投资者交易学院讲词汇。
我们的一天中的字是“天气衍生物”
一个天气衍生产品是在该期货合约的期货合约或期权 - 在相关商品是天气指数。
这些衍生工具的工作大致相同的方式，利率或股票指数期货及期权做，通过创建一个可交易的商品出来的东西是相对无形的。分析师看历史上气候变化 - 温度，降水和其他的东西 - 开发平均值和量化天气将偏离平均水平的风险。企业利用天气衍生品来对冲风险糟糕的天气会造成经济损失。对于谷物公司，恶劣天气可能是干旱，这将导致小麦价格上升。对于家庭供热公司，也可能是在十一月温暖的日子，这可能会降低家庭取暖用油的需求。而对于游乐园可能是下雨。
谷物公司和游乐园可能会购买期货合约与基于降雨潜在的天气指数。家供热公司可能需要根据温度指数合约。
天气衍生品是来自保险不同，因为它们链接到常用天气现象，如旱季，或温暖的秋天，影响特定的企业。保险仍需要防止重大天气事件，如龙卷风，飓风和洪水。你可以买到天气衍生品作为一个个体，但是你要仔细考虑交易费用，以确保您的损失风险是值得的代价。
巴里·诺曼，投资者交易学院