Third Nat Cat exchange contract to launch
Insurance Futures Exchange Services Ltd (IFEX) and Deutsche Bank AG have announced the planned launch of trading in catastrophe event-linked futures (ELF) on the Chicago Climate Futures Exchange (CCFE) later this month, pending CCFE’s self-certification of the futures product with the US Commodities Trading Commission.
The firm said that ELF contracts are standardised exchange-traded futures derivatives contracts similar to the Industry Loss Warranty (ILW) features found in some insurance agreements. ELF contracts
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