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U.S. Futures Exchange (USFE) announced today that it will list Wind Power futures, its first renewable energy contracts, on August 24. Seven contracts derived from NORDIX® Financial Wind Indexes will trade with monthly expiries.
NORDIX® Financial Wind Indexes, created by Weather Bid, LLC, are composed of deviations from 20-year historical wind speed averages compared with present daily figures. USFE’s futures contracts are based on two wind regions in New York and five wind regions in Texas, as defined by the National Oceanic and Atmospheric Administration’s (NOAA) National Center for Environmental Prediction division.
Wind Power futures will be valued at $500 per index point, with a tick size of $5. Further information and baseline data are provided free of charge at www.usfe.com/products_energy.html
Daniel Parker of MF Global’s Renewable Energy desk in New York City will act as lead broker for USFE’s contracts. He can be contacted at 212-589-6486, or dparker@mfglobal.com .
As previously noted, USFE’s futures contracts are the first listed exchange products designed to reflect the needs of the greater renewable energy community. USFE also plans to develop a comprehensive suite of futures contracts for the benefit of renewable energy, including hydro, solar, geothermal and biomass.
