Gallaghers and Nymex launch property insurance futures trading
Gallagher Re, the specialist reinsurance intermediary and advisory firm, and the New York Mercantile Exchange (NYMEX), the commodities exchange, today announced that they have reached an agreement whereby NYMEX will list for trading and clear Property Damage Risk contracts, subject to regulatory approval by the Commodity Futures Trading Commission (CFTC).
These contracts will allow the ‘real time’ electronic trading of property damage risk exposures, including hurricane risk through a cleared futures exchange. The contracts will be financially settled
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