We should be watching this...
-----Original Message-----
From: IntercontinentalExchange [mailto:nyadmin@intcx.com]
Sent: Thursday, November 15, 2001 11:14 AM
To: Zipper, Andy
Subject: NEW WEATHER SWAPS ON THE INTERCONTINENTAL EXCHANGE


  <http://www.intcx.com/weather/images/header7.gif>
IntercontinentalExchange is pleased to announce that weather swaps trading will be included in its new version 8 release. These fixed-for-floating financial products will be cash settled on a five-day average temperature, Monday - Friday, for the current week and for the forward week. Temperatures used for the settlement of these products will be those reported by EarthSat, a widely recognized and independent source of weather data. Settlement temperatures provided by EarthSat will be available via the IntercontinentalExchange website. The hub locations for weather trades will be the primary airport weather stations at Chicago-O'Hare, Dallas-Fort Worth, New York-La Guardia, Philadelphia-International and Sacramento-Executive. The standard contract size for all locations will be $10,000 per degree Fahrenheit, with a tic increment of 0.1 degree Fahrenheit or $1,000. There are no payout limits on the contracts. 
The design and development of these new weather products was done under the guidance of Aquila Energy Marketing Corp., a recognized leader in weather product concepts. In addition, IntercontinentalExchange has worked with Aquila and other major weather market participants, including Reliant Energy, Mirant Americas, and El Paso Merchant Energy, to build consensus and support for these new products.
To trade weather swaps you must have our new version 8 release installed on your system. An advisory with details about this new release is being sent to you by separate email. 
We encourage all or our users to take a serious look at the new weather products being offered by the IntercontinentalExchange. Please contact one of our following representatives to find out about the new weather products, or check back on our website product guide:
Patricia Ricci : (646) 792-2624 : Patricia.Ricci@intcx.com <mailto:patricia.ricci@intcx.com>
Mike O'Neill : (646) 792-2626 : Michael.Oneill@intcx.com <mailto:michael.oneill@intcx.com>
Chris D'Ambrosio : (646) 792-2625 : chris.dambrosio@intcx.com <mailto:chris.dambrosio@intcx.com>
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