"Citadel offers weather hedging capacity on weatherXchange"

If this ends up being nothing more than prop bets I don't think I want to play. Having Citadel on the other side of every bet sounds like a tought way to make a living.

From Artemis:

Citadel Energy Investments Ltd., part of the giant Citadel investment organisation, is set to provide weather risk transfer capacity through the Speedwell Weather operated parametric weather risk transfer platform weatherXchange.

Citadel invests and allocates capital across a huge range of asset classes, one of which within its commodities business is the energy sector and within that it appears so to is the weather exposure that energy companies tend to carry.

weatherXchange helps any company access index-based, or parametric, weather protection and hedging products more easily, being able to request quotes from a number of leading capacity providers including reinsurance and insurance-linked securities (ILS) firms.

Citadel Energy Investments Ltd. will join weatherXchange as one of these Protection Sellers, able to provide quotes in response to price requests received through the platform and provide weather risk protection capacity directly, or indirectly through an intermediate broker.

Speedwell launched its weatherXchange platform last year, as an online technology based weather trading platform enabling protection buyers and sellers to meet and transact parametric or index based weather risk transfer contracts.

David Whitehead, Co-CEO of weatherXchange, said, “We are delighted to have Citadel Energy Investments Ltd. join weatherXchange as a Protection Seller.  The addition of Citadel to our platform is the latest milestone in the continued growth of the weather derivatives market and a reflection of growing demand for weather-focused risk management solutions among non-traditional Protection Sellers....

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