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Speedwell Weather System goes Real-Time in v6.0

03 May 2006

Speedwell Weather Derivatives is pleased to announce the release of SWS Version 6.0 which marks the transition of SWS to a fully real-time system.

SWS v6.0 is the first weather derivatives pricing and risk management software to
offer an integrated real-time data feed from YellowJacket Software*. Configurable grids allow the users to compare real-time prices for futures and option with their own derived prices and to calculate their exposure throughout the day.

A centralized real-time calculation server updates prices and Greeks whilst futures and option prices are either delivered to the trader live via the optional YellowJacket* Interface or can be entered manually to support other sources of prices. Market prices are displayed on a new configurable trading board on to which the user can track an unlimited number of futures and options. This can also be configured to show information including the accrued index, the forecast effect and burn values. From this grid it is possible to book transaction and also invoke tools such as the SWS spread calculator, the Black and the actuarial pricer and correlation matrices.

There have also been further SWS front end enhancements to simplify and streamline the user interface to facilitate efficient usage of the system’s extensive suite of functionality.

Stephen Doherty, CEO of Speedwell Weather Derivatives, says “SWS version 6.0 is the culmination of our goal to make the system fully real-time capable. For the first time our customers will be able to have real-time OTC prices delivered live to their SWS Desktop. We are extremely pleased to be able to demonstrate our commitment to making SWS even more powerful for secondary market users – this new functionality should complement well the existing capabilities of the system in respect of structuring complex, highly tailored OTC structures”.