The Weather Board of Trade, based in Atlanta, has acquired the U.S. rights to the NORDIX. The NORDIX is the world’s first perpetual, financially traded weather index. It uses a simple daily calculation to track and chart weather trends as it relates to financial impact, and its fair value adjusted daily. The regional index will make its debut in the U.S. followed by additional indices throughout the world.

The NORDIX provides the ability to accumulate and off-set financial positions in both precipitation and temperature. Also known as, the spot market of weather, NORDIX liquidity provides participants an opportunity to hold positions for varied time durations from hours to several seasons. The U.S. government’s National Climatic Data Center division of NOAA will supply weather data.

As a result of the acquisition, the Weather Board of Trade has filed with the Commodities Futures Trading Commission, as a traded exchange. “We continue to prepare for a launch this summer by filing the proper regulatory documents and continuing our search for the most qualified strategic partners” said Dan Johnson, managing director and co-founder.

“We believe the ability to obtain price discovery, execute and clear trades with regulatory oversight is important as we roll out the NORDIX worldwide,” Johnson added. The Weather Board of Trade is currently accepting membership applications to prepare for trading of the NORDIX this summer.

The Weather Board of Trade has licensed the use of the NORDIX patent- pending methodology from Zipspeed, an Atlanta based weather risk management company. The NORDIX is the first liquid, two way weather market that provides cross industry hedge value.