Expiry Without Echo: A Rs 461 Crore Market Closed While India Watched the Monsoon Leave
India watched the southwest monsoon leave on 30 September and missed the other thing that ended that afternoon. RAINMUMBAI — the country's first exchange-traded weather derivative, and a Rs 461 crore market — reached its last expiry and settled at 2,243.05 mm. What it was, how it traded, who would have been on each side, how to watch the one still running, and why India's whole first season is 0.2% of the world market.
Trading Monsoon Risk: NCDEX Debuts RAINMUMBAI & RAINCHNNAI, India's First Weather Derivatives
NCDEX has listed India's first exchange-traded weather derivatives: RAINMUMBAI tracking the Southwest Monsoon over Mumbai, and RAINCHNNAI tracking the Northeast Monsoon over Chennai. What they are, who trades them, how the Cumulative Deviation Rainfall methodology works, the trade-offs versus crop insurance, and a live look at VayuMet's own 14-day CDR forecast for both contracts.