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TFS Energy completes $50 million weather auction

A $50 million Dutch auction has been completed by interdealer broker TFS Energy’s US weather derivatives division.

Offers were solicited for cumulative average temperature calls in Madison, Wisconsin, and Cedar Rapids, Iowa, for the June to August 2008 time period.

A total of $50 million in notional risk was placed in the auction and its capacity in the market was oversubscribed, according to TFS. The broker has previously hosted auctions ranging from $1 million to upwards of $60 million of transferred risk.

“The consistent yearly end user interest we are seeing in the weather market is an excellent

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