Posted AT 9:00 AM EST on 25/04/07
Betting on global warming
Think you know where the weather will be wackiest? Now you can bet on it.
UBS has started a global warming index and says it's the first time mainstream investors can make investments in the weather derivatives market.
It's the first weather index "designed to reflect the current needs of the investment community," the bank said. "It provides a rational and simple way to obtain exposure to the weather asset class.
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