Snow Futures Story aired: Wednesday, February 15, 2006
Starting later this month, the Chicago Mercantile Exchange (CME) will begin trading snowfall futures. The contracts will rely on how much snow falls at Boston's Logan Airport and New York's Central Park.
According to the CME, snowfall futures could help businesses who are affected by the weather or cities struggling to maintain snow removal costs. Snowfall futures join a growing field of what investors call weather derivatives.
Guests:
Felix Carabello, director of alternative investments for the Chicago Mercantile Exchange
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