Chennai’s rainfall has now officially entered the financial markets, with NCDEX launching RAINCHNNAI, a rainfall-based weather derivatives futures contract that will allow market participants to hedge financial exposure linked to the Northeast Monsoon, which accounts for nearly 70% of Chennai’s annual rainfall.
Launched on Monday, August 31, RAINCHNNAI expands NCDEX’s monsoon risk management framework introduced earlier this year with RAINMUMBAI, extending exchange-traded rainfall risk management across the Southwest and Northeast monsoon seasons.
