Weather Data Quality International Weather Data:
Speedwell Weather supplies historical and real time weather data feeds for tens
of thousands of sites across the globe. We have been working in this sector since
1999. Unlike many suppliers who distribute only free, publicly available data, we
also have direct data supply agreements with a large range of national meteorological
services. This means we are able to offer official Climate Data for many thousands
of sites worldwide. We are a single-point of contact for the provision of high quality
weather data to the energy, agriculture, commodity, insurance and weather risk markets.
Our origins as a weather data provider lie in the weather risk markets where we
are the dominant provider of weather data for OTC weather-risk contract settlement
purposes. So we understand the importance of data quality. We quality
control data from thousands of sites to correct errors and, where necessary and
possible, to fill missing values.
Over the years we have come across a lot of bad data! ...as a matter of policy,
for reasons of quality, we do not deliver data derived from GSOD archives
unless specifically requested. If you see a difference between the
data we provide and data sourced from other sources we will not be surprised. There
is a lot of bad data out there!!!! Please contact us for a detailed explanation
of the pitfalls of some commonly used public archives of weather data. These can
be different not just in detail but FUNDAMENTALLY.
SuperPack®:
Speedwell
SuperPack makes available an unprecedented range of quality historical weather data
and weather data feeds for a single annual fee. The SuperPack licence applies corporate-wide
across multiple office locations
One contract, one fee, covers all data. SuperPack users have immediate
access to a catalogue of over 10,000 data sets - and growing. These data sets are
shown on this map tool here. Use this
tool to see percentage completeness statistics, to access
data tools such as Actuals-Vs-Climatology and the Weather Statistics Extractor;
and to download the data directly from the web site. Subscribers
can request an unlimited number of historical data sets and real-time feeds by FTP.
The list of weather sites available for immediate access grows continuously: In
addition, SuperPack subscribers can also request any data from our secondary archives
of many tens of thousands of weather sites around the world. SuperPack subscribers
also have access to over 5,000 -and growing- cleaned data sets including official
international climate data.
SuperPack offers a dramatic simplification of the contractual and legal admin
involved in data provision. Click here for more details.
SuperPack-Light. SuperPack-Light
is for sophisticated weather data users, including those following the agri-markets,
who require large volumes of high quality world wide data but who do not need the
full-service provided under the full SuperPack subscription. SuperPack-Light is
a corporate-wide subscription delivering to up to a maximum of 1,500 user-chosen
daily data sets by FTP which can be selected from over 10,000 data sets...all at
zero marginal cost. SuperPack-Light subscribers also receive access to additional
data download from the website and use of web-delivered tools such as Actuals-Vs-Climatology
and the Weather Statistics Extractor
Click here for more information
Cleaned Data Sets: Weather
data is often incomplete and may contain erroneous values. Our Cleaned Data Sets
correct erroneous values and fill missing data. We carry in excess of 4,000 cleaned
historical data sets of temperature and rainfall and some other variables and we
clean over 4,000 sites per day. We also provide cleaned hourly data sets and feeds.
Quality, provenance and auditability: We believe data cleaning
is a very serious business. Our origins as a weather data provider lie in the weather
risk markets where we have acted as settlement agent in hundreds of over-the-counter
weather risk transactions. This represents the sternest test of data quality and
provenance.
- Our cleaning techniques build on a very substantial software, hardware and human
resource infrastructure which builds on a database storing daily and hourly data
for over 80,000 worldwide weather reference sites. Our tools alert us to improbable
values by the use of methods including proxy testing, analysis of hourly reports
and satellite imagery. However, we believe weather data cleaning can never,
and should never, be fully automated. Our data cleaning processes
are always manually overseen by meteorologists.
- We also understand the importance of data provenance. At Speedwell
we store our data in a strict hierarchy that provides transparency on issues such
as source, reporting convention and quality. While clients can request to receive
our data as a "best-of" feed, we can also provide data showing these component
data types:
Click here for more information.
Hourly Frequency Reports
We are able to provide hourly frequency reports for any hourly weather variable
and for any period. The most frequently requested product is the hourly frequency
report covering a specific year and shown by month. This shows how many hours in
temperature interval were recorded in each month of that year. Click here for an annotated example. Hourly Frequency Reports
can be provided for any variable for any site for which we carry hourly data. We
carry historic hourly data for many thousands of sites in Europe, Australia, Asia
and the Americas.
Hourly Average Temperature Data Sets ("Climatologies")
Many clients approach us to buy hourly data which they use to calculate an average
value for each hour for each day of the year. This is something we can provide saving
the costs of buying and handling large hourly data sets. The output is a file with
24 *366 data points and can be delivered by FTP or by email. This can be provided
for any variable for any site for which we carry hourly data. The average can be
calculated with or without kernel smoothing. The average can be based on any period
with 10 years being the most requested. We carry historic hourly data for many thousands
of sites in Europe, Australia, Asia and the Americas. Click here for more information
Wind storms: historic data and real-time feeds. We provide historic data for European wind
storms reports and can provide hourly data updates by FTP to support verification
of insurance claims or for the valuation of CAT-bonds throughout the year. Weather
variables we can supply are hourly maximum gust, hourly average wind speed, hourly
wind direction and hourly surface pressure. Data is based on both Metar and Synoptic
reports. We offer a high density of sites. Please see here for more information.
Standard Historical Weather Data Packs.
We have well over 500 different packs of weather data. These include packs defined
by country, by sector (eg China cotton growing areas) or by weather variable (eg
hourly Germany data pack for power market analysts). See here to view our packs and individual
site inventory statistics.
These are just some of our data packs:
Weather Data Packs by Region Click here for a map viewer or our data packs, including inventory
statistics.
The Americas
USA: we carry many thousands of sites.
Please contact us for other data sets.
USA Primary:
260 sites of cleaned
temperature and rainfall history and feeds for "First
Order" stations. Click here.
USA Secondary:
250 sites cleaned
temperature feeds for "Second Order" stations
USA Tertiary: >350 sites with cleaned temperature feeds.
USA CWG:
230 sites that form the basis of the Weighted Degree Day forecast produced jointly with Commodity Weather Group.
USA Alaska:
21 sites cleaned monthly in arrears
USA Hawaii:
4 sites cleaned monthly in arrears
USA Hourly:
>230 site pack providing hourly temperature, rainfall and other variables. [A
starter only..we can provide hourly data for 1000s of US sites]
USA Hourly
Rainfall History and Feeds: 200+ site pack providing ultra-long hourly rainfall
history and feeds. We can provide 1000s more.
USA Iowa
Wind Hourly Extended: data sets starting in 1948
USA Texas
Hourly Extended: 20 sites of hourly data inc wind speed. Many sites extended
to 1950.
USA Texas
Temperature Hourly: 9 sites of cleaned hourly temperature. Many sites extended
to 1950.
USA Rainfall Cleaned:
Over 330 US sites with cleaned rainfall data
USA Snowfall
Cleaned: >120 sites of cleaned snowfall data.
USA Snowfall
Sites in Colorado: 52 sites
USA Snowfall
Sites in Connecticut: 2 sites
USA Snowfall
Sites in Delaware: 3 sites
USA Snowfall
Sites in Illinois: 71 sites
USA Snowfall
Sites in Iowa: 98 sites
USA Snowfall
Sites in Kansas: 150 sites
USA Snowfall
Sites in Maine: 15 sites
USA Snowfall
Sites in Maryland: 2 sites of cleaned snowfall data.
USA Snowfall
Sites in Massachusetts: 24 sites
USA Snowfall
Sites in Michigan: 50 sites
USA Snowfall
Sites in Minnesota: 61 sites
USA Snowfall
Sites in Montana: 53 sites
USA Snowfall
Sites in Nebraska: 100 sites
USA Snowfall
Sites in New Hampshire: 10 sites
USA Snowfall
Sites in New Jersey: 16 sites
USA Snowfall
Sites in New York State: 52 sites
USA Snowfall
Sites in North Dakota: 48 sites
USA Snowfall
Sites in Oregon: 75 sites
USA Snowfall
Sites in Pennsylvania: 15 sites
USA Snowfall
Sites in Rhode Island: 1 site
USA Snowfall
Sites in South Dakota: 60 sites
USA Snowfall
Sites in Utah: 37 sites
USA Snowfall
Sites in Vermont: 13 sites
USA Snowfall
Sites in Virginia: 43 sites
USA Snowfall
Sites in West Virginia: 30 sites
USA Cotton Growing Area: 22 Site Pack
USA Soybean Growing Area: 21 Site Pack
USA Power Regions: Cleaned daily temperature
and rainfall and hourly data for sites in USA Power regions:
AZNM
(7), CAMX
(14), ECAR (29), ERCOT (15) , FRCC (9), MAAC (14), MAIN (13), MAPP (22), NEWE (12), NWPP (37) SERC (36), SPP (12)
USA CME temperature
contracts: data sets for CDD and HDD weather derivative contracts for 24
sites quoted on the CME
USA CME rainfall
contracts: data sets for the 9 cumulative rainfall weather derivative contracts
quoted on the CME
USA CME snowfall
contracts: data sets for the 6 cumulative snowfall weather derivative contracts
quoted on the CME
Puerto Rico
Primary (4)
Canada : we carry many thousands of
sites. Please contact us for other additional data sets.
Canada Primary: 300 Site Pack
Canada Hourly: 6 site Pack (please contact
us for others, we carry 1000's of hourly data sets for Canada)
Canada Precip
Sites (14)
Canada Alberta
Primary (16)
Canada British
Columbia Primary (20)
Canada Manitoba
Primary (7)
Canada New
Brunswick Primary (11)
Canada Newfoundland
Primary (18)
Canada Nova
Scotia Primary (11)
Canada Ontario
Primary (12)
Canada Prince
Edward Island Primary (4)
Canada Quebec
Primary (14)
Canada Saskatchewan
Primary (12)
Canada CME
temperature contracts (6): data sets for the 6 HDD and CAT weather derivative
contracts quoted on the CME
South/Central America: Rainfall and temperature history and feeds. Hourly data
on request.
Argentina
(55), Argentina Corn (6), Argentina Soybean (9)
Brazil Primary
(28); Brazil Secondary, (47),
Brazil Cleaned Feed
Brazil Cocoa (3), Brazil
Coffee (9), Brazil Corn (10), Brazil Cotton (7), Brazil
Oranges (5),
Brazil Rice (9), Brazil
Soybean (15), Brazil Sugar (4), Brazil
Winter Wheat (9)
Belize Primary
(1)
Chile Primary (27),
Chile Rainfall
Sites (22), Chile Hourly
(5)
Colombia
Primary (2); Colombia Coffee (1)
Peru Primary
(14)
Uruguay Primary
(15)
Europe
Austria Primary(21)
Belarus Primary
(2), Secondary
(9)
Belgium Primary
(4), Secondary
(16), Snow depth (2)
Bosnia Herzegovina
Primary (2)
Bulgaria
(30), Sunshine
Hours (5)
Croatia Primary
(11), Secondary
(35)
Cyprus Primary (16)
Czech Republic Primary
(8), Czech Republic Secondary
(9)
Denmark Primary (5),
Estonia Primary (5),
Finland Primary (5),
Secondary (26)
France Primary (38),
France Secondary (31),
France Hourly RTE Sites (31)
Germany Primary (80),
Secondary (>100),
Hourly (70), Germany daily Solar Radiation (57), German hourly Solar Radiation Feeds (108)
Greece Primary (7),
Secondary (14)
Hungary Primary (7), Snow Depth
(3)
Ireland Primary (10),
Israel Primary (5)
Italy Primary
(41), Italy Secondary (53)
Latvia Primary (2)
Lithuania
Primary (7)
Luxembourg (1)
Macedonia Primary (2)
Netherlands Primary
(38), Hourly (34),
Netherlands hourly Solar Radiation
Feeds (32)
Norway Primary (52),
Norway Secondary (17),
Norway Hourly (3)
Poland Primary (24),
Hourly (8)
Portugal Primary (11),
Hourly (3)
Romania (23), Hourly (7), Romania Wheat (8)
Russia Primary
(62), Russia Secondary
(>450), Russia Sugar Beet Growing Area (19)
Serbia (34)
Slovakia (23)
Slovenia Primary (13)
Spain Primary (77),
Spain Hourly (12),
Spain Hourly Solar Radiation
Feeds (25 sites)
Sweden Primary (16),
Hourly (3)
Switzerland Primary
(18), Switzerland Secondary
(25), Swiss Hourly
(9), Switzerland Solar Radiation
(70)
Turkey Primary (41),
Turkey Coastal Wind Sites
(11) , Hourly (3)
UK Primary (29), UK Secondary
(126 sites many cleaned), UK
Hourly (159), UK hourly
Solar Radiation (88), Snow-depth (10),
UK Exelon GSP group sites
(relating to UK Power Market), CWV group sites
Ukraine (37),
Hourly (5), Ukraine Sugar Beet (14), Ukraine Barley (10)
European CME: data sets
for the 11 HDD and CAT weather derivative contracts quoted on the CME
Europe Hourly Solar Radiation: 299 sites in Europe with
real-time hourly global solar radiation feeds from ground observations
Pacific
Australia: we carry many thousands
of sites covering daily, hourly and sub-hourly variables. Please contact us for
other data sets.
Australia Primary:
90 sites with cleaned temperature history and feeds. Click here.
Australia Hourly: Hourly
temperature and rainfall data for > 150 sites (please contact us for more..we
carry 1000s of sites)
Australia
Rainfall: 36 cleaned sites
Australia Secondary
>450 sites
Australia CME: data
sets for the 3 weather derivative sites quoted on the CME
Asia
Bangladesh (27)
China (>150 sites
many cleaned), China Tertiary
(>40), China Major Cities
(20), China Long Rainfall
History (>170)China
Cotton Growing Area (25), China Sugar (2), China Wheat Growing Area (15)
Hong Kong Primary (19)
India Primary (82),
India Cotton Growing Area:
Cleaned data sets for 5 sites
Iran Primary (5)
Japan Primary Temperature
(>700), Japan Hourly
(5)
Japan CME temperature:
data sets for the 3 temperature based weather derivative contracts quoted on the
CME
Kazakhstan (63),
Kazakhstan Wheat
(19)
Korea Primary (43),
Korean Solar Radiation Sites
(22)
Malaysia Primary 14
sites of official historical climate data
Pakistan Cotton Growing Area
(5), Pakistan Rice Growing
Area (5)
Philippines (45)
Russia: please see Europe section
Thailand Primary (18),
Secondary (>100),
Thailand Sugar Growing Area
(2)
Turkmenistan (20)
Uzbekistan (17)
Vietnam Primary (22)
Africa
Algeria (60)
Benin (6)
Burkina Faso (9)
Egypt Primary (7)
Ethiopia Primary (14),
Ethiopia Coffee Growing Area
(3)
Ivory Coast, Cote d'Ivoire (10)
South Africa Primary
(30), South Africa Secondary (70), South Africa Corn Growing Area
(16), South Africa Sugarcane (4), South Africa Wheat (6)
Togo (3 sites)
Middle East
Saudi Arabia Primary Pack
(8)
Weather Data Packs for CME Weather Derivative
Futures
Australia CME: data
sets for the 3 weather derivative sites quoted on the CME
USA CME temperature:
data sets for the 24 CDD and HDD weather derivative contracts quoted on the CME
USA CME rainfall: data
sets for the 9 cumulative rainfall weather derivative contracts quoted on the CME
USA CME snowfall: data
sets for the 6 cumulative snowfall weather derivative contracts quoted on the CME
Japan CME temperature:
data sets for the 3 temperature based weather derivative contracts quoted on the
CME
European CME: data sets
for the 9 HDD and CAT weather derivative contracts quoted on the CME
Weather Data Packs for Agriculture
Argentina Corn (6), Argentina Soybean (9)
Australia Barley (41), Australia Canola (11), Australia Cotton (7), Australia Oats (46), Australia
Potatoes (13), Australia Sorghum (14), Australia Sugarcane (9),Australia Wheat (40)
Austria Corn (11), Austria Wheat (5)
Bangladesh Rice (10)
Brazil Cocoa
(3), Brazil Coffee (9), Brazil Corn (10), Brazil Cotton (7), Brazil Oranges (5), Brazil Rice (9), Brazil Soybean (15), Brazil Sugar (4), Brazil Winter Wheat (10)
Bulgaria Wheat (9)
Chile Grapes
China Corn (19), China Cotton (23), China
Rapeseed (9), China Rice (31), China Soybean (11), China Sugar (10), China
Tobacco (11), China Sugar beet (15), China Wheat (26)
Colombia Coffee (1)
France Barley(19), France
Rapeseed (12), France Sugar Beet(14), France Wheat (14)
Germany Barley (10), Germany
Sugar Beet (15)
India Coffee (8), India Cotton (10), India Rice (27), India Soybean (7), India Sugar (13), India Winter Wheat (13)
Indonesia Coffee (4), Indonesia Rice (12)
Coming Soon: Iran Barley(14), Iran Wheat(14), Iran Rice(14)
Italy Corn (8)
Coming Soon: Ivory Coast, Cote d'Ivoire -Cocoa (7)
Kazakhstan Wheat (17)
Pakistan Cotton (5), Pakistan Rice (7), Pakistan
Sugar (9)
Paraguay Soybean (5)
Poland Corn (7), Poland Oats (5), Poland Potatoes (7), Poland Rapeseed (9), Poland Sugarbeet (10), Poland Wheat (19)
Romania Wheat (8)
Russia Barley (10), Russia Sugar Beet (13), Russian
Wheat (25)
Serbia Corn (18), Serbia Soybean (8), Serbia Sugarbeet (8), Serbia Sunflower (8), Serbia Wheat (18)
South Africa Corn (16), South Africa Sugarcane (4), South Africa Wheat (6)
Coming Soon: Spain Barley (10), Spain Corn (6), Spain
Wheat (17)
Thailand Sugar (9)
Togo (3 sites relevant for Cocoa)
Turkey Sugar beet (6)
Coming Soon: UK Barley, UK Oats, UK Oilseed Rape, UK Potatoes,
UK Sugarbeet, UK Wheat
Ukraine Sugarbeet (14), Ukraine Barley (10)
Coming Soon: Uruguay Soybean (5)
US Citrus (general) (10), US
Citrus (California) (4), US
Citrus (Florida) (6), US Corn (23), US Cotton (22), US
Durum Wheat (9), US
Sorghum (12), US
Soybean (21), US
Spring Wheat (general) (15), US
Spring Wheat (Hard Red) (13), US Sugar Beet (13), US
Sugarcane (4), US Tobacco (15), US Winter Wheat (general) (27), US
Winter Wheat (Hard Red) (18), US
Winter Wheat (Midwest Soft Red) (7), US
Winter Wheat (Pacific NW Hard White) (3), US
Winter Wheat (Pacific NW Soft White)
(6)
Vietnam Coffee (9), Vietnam Rice (7)
Weather Data Packs for Energy
Please also see hourly country data packs above
or where not separately listed the main country pack.
In most countries where we show limited hourly
data, we can provide more on request. Please contact us
USA: Cleaned daily temperature and rainfall and hourly data for sites in USA
Power regions: AZNM (7), CAMX (14), ECAR (29), ERCOT (15) , FRCC (9), MAAC (14), MAIN (13), MAPP (22), NEWE (12), NWPP (37) SERC (36), SPP (12)
UK: Exelon GSP group sites (relating to UK Power Market)
UK: CWV group sites (sites used in the UK Gas market
Composite Weather Variable calculation)
Weather Data Packs for Renewable Energy
USA
Iowa Wind Hourly -3 extended data set from 1948
USA Texas Hourly EXTENDED history
-20 sites of extended history with many sites providing hourly temperature, wind
and rain from 1950
USA Texas Hourly Temperature
Cleaned -10 sites of cleaned hourly temperature data
Alpine Hydro Sites:
37 sites key Alpine sites with cleaned temperature and rainfall.
Bulgaria Sunshine Hours: 5 Bulgarian sites with daily sunshine-hour
data
Europe Hourly Solar Radiation Feeds: 299 sites in Europe
with real-time hourly global solar radiation feeds from ground observations
Germany Hourly Solar Radiation
Feeds 108 sites in Germany with real-time hourly global solar radiation
feeds from ground observations
Germany Daily Solar Radiation
(57)
Korea Solar Radiation
(22)
Netherlands Hourly Solar Radiation
Feeds 32 sites in the Netherlands with real-time hourly global solar radiation
feeds from ground observations
Scandinavia Hydro Sites
20 Sites in Norway and Sweden with forecasts and cleaned data feeds for hydro/snow
pack modelling.
Spain Hourly Solar Radiation Feeds 25 Spanish sites providing
real-time hourly global solar radiation feeds from ground observations
Swiss Hourly Solar Radiation Feeds 70 sites in Switzerland
with real-time hourly global solar radiation feeds from ground observations
UK hourly Solar Radiation
Feeds 88 sites in the UK with real-time hourly global solar radiation feeds
from ground observations
Hourly Weather Data
Hourly Weather Data Packs and individual sites: we carry hourly
weather data for thousands of sites around the world and can provide real-time feeds.
Hourly data can be cleaned on request.
Hourly Temperature Frequency Reports: we can provide reports for
any site summarising the number of hours in each temperature bucket by month / year.
Click here for an example. Please also contact us for Daily Station Reports, Monthly
Summary Data and Rainfall Return Periods data. Click here.
Individual Historical Data Sets and Feeds:
Historical Data: We pride ourselves on being able to satisfy the
most testing requests for weather data from our archives of 80,000+ data sets. Data
can be delivered by email, FTP or through our web-download tool.
Weather Data Feeds: we can provide data feeds of sub hourly, hourly
and daily data for any weather variable.
Recalibrated Data
Recalibrated Data Sets: Our Recalibrated data sets adjust historical
temperature series to current conditions. Most sites, especially US airport, display
numerous discontinuities. Corrections for discontinuities can make a profound impact
on the understanding of the behaviour of a site.
Click here for more information
Recalibrated data sets are available for a range of sites in the USA, Europe, Australia
and Japan. Any site can be Recalibrated on request. Please contact us.
Real-Time Monitor: a web delivered tool for spotting discontinuities
as they happen in the reporting of temperature due to site moves, instrument changes
etc. The relationship of a reference site to a synthetic site derived from a basket
of surrounding sites is monitored in real-time with information presented in a configurable
graphical format. This service is included as part of the subscription to Recalibrated
Data Sets.
CAT Risk
European Windstorm data sets: we can provide an archive of max
gusts, average wind speed and wind direction with an exceptionally high geographic
granularity and including sub-hourly reports of European
windstorms since 1970.
Forecasts
Click here for summary information about our forecast products.
Dashboard: The
Speedwell Forecast Dashboard is a fast and convenient way to view all of your forecast
products. The Dashboard displays Speedwell downscaled forecasts for temperature
& precipitation from four forecast models: ECMWF Ensemble, ECMWF Operational,
GFS Ensemble and GFS Operational. Please
click here for more information. Click here to see the product with example
sites
15-Day and Downscaled Site-Specific Forecasts:
Covering sites in the USA, Canada, Europe, Australia, China, Japan and South America.
These probabilistic probabilistic multi-member ensemble forecasts
based on the ECMWF and GFS models. They are available as a data feed by FTP or graphically
via our web site. Click here to see our forecast viewer showing example forecast
sites.
Monthly (32-day)
Downscaled ECMWF Site-Specific Ensemble Forecast: Covering sites
in the USA, Canada, Europe, Australia, China and Japan..
These 51-member forecasts are available as a data feed by FTP and graphically via
our web site. Based on the ECMWF model which uses a coupled ocean-atmospheric mode
after day 10 . The
monthly forecast is issued twice per week..on Mondays and Thursdays.
Population-Weighted Basket Forecasts -FlexIndex- Used to model regional energy demand,
for each Flex we supply fully downscaled probabilistic
forecasts based on both the ECMWF and GFS models as well as a history of the
weighted basket and cleaned daily feeds. Available for a range of
countries and configurable to user requirements. Click here to
see all our weighted
baskets on our map tool. For a trial or further details
please contact us here.
FastCastTM: The
FastCast forecast viewer shows the latest output from four forecast models with
the particular aim of showing the change in the forecast as fast as possible. The
models are ECMWF Ensemble; the ECMWF Operational; the GFS Ensemble and the GFS Operational.
These are processed rapidly as each time step of the model is received. FastCast
forecasts give the trading markets a very quick appraisal of any change in the forecast
from the previous run. Click here for more information on FastCast. Click
here to see the FastCast viewer with example sites.
European Power Report: the
Power Report provides a graphical representation of weather conditions in the coming
week summarising temperature, rainfall and wind. Click here for
more information. Click here to see archived example reports.
US Gas-Weighted Degree Day report.
Provides the best possible information to anticipate
the EIA natural gas storage and withdrawal reports. Click here for information about the product. Click
here to see the WDD Data Viewer.
The Market Report.
A summary showing the impact of the change in the ECMWF forecast over the last
24 hours on the fair-value price of CME weather futures. Click here
Weather Derivative
Pricing and Portfolio Management
Speedwell Weather System SWS: SWS
is the pre-eminent enterprise weather derivative pricing and risk management system
comprising front office pricing tools, middle office risk management tools and back
office.
We are delighted to have released version 8.0 of SWS. The culmination of over
two years’ of development as the millions of lines of code in SWS were converted
to C# and the .NET framework. Vs 8 lays the foundations needed for continued evolution
over the coming years.
SWS consists of many millions of lines of code representing over a decade of continuous
development to produce a tool that provides a consistent and reliable framework
for valuing weather hedges, for managing a portfolio of weather risk and for the
process flow of seeing those transactions through to settlement. We have a philosophy
of transparency (no black boxes, full documentation of methods), openness (all SWS
outputs are easily exportable, all components re-usable in 3rd party systems, subject
to licence) and we understand the importance of auditability and resilience.
SWS is a client-server application comprising:
-A full database for warehousing historical weather data, weather data feeds,
forecasts and portfolio information
-The SWS server application
-Multiple user desktop applications. A full permissioning
architecture provides selective access rights to different users.
SWS can be installed internally or can be hosted by us with each client having
a dedicated database.
SWS supports pricing based on numerical integration techniques as well as actuarial
burn. Daily rainfall and temperature simulation engines are also available. SWS
supports the highly complex and trades that are a feature of the OTC weather risk
market with a highly flexible tool that allows the user to generate compound indexes.
Compound indexes can comprise any number of weather variables, with any weights
and with an unlimited level of complexity (including even compounds on compounds
on compounds..)
SWS users can declare an unlimited number of pricing models combining different
detrending methods, weather data hierarchies, distributions, leap year adjustments
etc. All calculations available within SWS are available as a library for use in
other applications. SWS handles an unlimited number of weather risk portfolios.
Credit risk, expiry VaR and daily VaR calculations are supported. Delivery and running
of reports can be automatically scheduled.
SWS is an open system:
All data grids can be exported to a spreadsheet.
All SWS components can be used in external applications.
Weather data is easy to import and export.
SWS continues to evolve: in over a decade of development we
have made available 6 major releases and numerous minor releases to our clients.
We are currently completing a major re-write of all code as we move to the MS .NET
framework.
Build Vs Buy Considerations
We believe SWS is a compelling alternative to the apparent attractions of developing
a system in-house. If you are considering internal development and your weather
system has not/will not accommodate these considerations, then SWS may be an expedient
alternative:
- Does your weather system handle hourly data?.. strips? ..compounds?.. multi period
deals?..multi triggers? ..baskets?
- When pricing a transaction can you exclude days of the week and specific dates?...
- Does it support ultra exotic deals through a "back door" with those
deals still being fully incorporated in portfolio calculations?..
- Can you create a structure that handles non-consecutive hourly periods in a day?..
- Do you handle leap year adjustments robustly? (we offer six different methodologies)...
- Can your middle office users stress test a portfolio by overriding the front office
valuation models with one of their own choice?...
- Can you price a weather hedge using INDIVIDUAL members of an ensemble forecast
to capture the implicit convexity?...
- Does your weather database respect the different data qualities that are used
and which may be dramatically different even at the same weather station?..
- Would your audit trail breakdown if a weather data point already used in settling
a transaction is later revised by a national met service and subsequently updated
after settlement of a weather hedge?..
- Can you detrend the underlying weather data AND the final index?...
- Does your detrending method respect the differing trends in different times of
year? ...
- Does your system automate the raising of trade confirmations and invoices?
- Do you have a permissioning structure that prevents, for example, accidental deletion
of booked trades by front office users or un-authorised changes to front office
models by back office users?...
- Do you handle credit risk reports..?
- Can you easily export weather data and historical forecasts for use in external
applications ?
- Can you run a weather hedge valuation or a retrospective portfolio valuation using
only the information that was available at that time?
- Can you retrieve a snapshot of the weather data that was used to settle a transaction
before and QC revisions to that data?
- Does your weather database respect the various different types of weather data
on which a transaction can be priced? SWS supports more than a dozen data types
and allows the user to price with different data hierarchies.
- Can your database support non weather variables including energy or commodity
prices ?
- Does your weather database scale to 1000s of weather sites and handle daily, hourly
and sub hourly ..down to individual minutes ?
- Does your weather pricing system support weatherML for the purpose of sending
and receiving RFQs?
- Does your system support daily VaR calculations at the portfolio level?
Click here for a presentation about SWS. t SWS">Click here for a presentation about SWS.
Click here for information on SWS
Back-office process flow.
Click here for SWS FAQs
Click here for SWS Technical
Requirements
Click here to see what is in development
SWSConnect. SWSConnect
is a web-delivered weather derivative pricing tool based on the same underlying
components as SWS. Ideal for pricing CME weather derivative contracts. Click here.
Web delivered tools:
Through the Speedwell web site, a number of tools are available that build on our
underlying data sets. These include
Actuals –Vs-Climatology Calculator: shows the average or accumulated
values of a chosen weather variable compared with N-year climate normals. The data
is presented in an exportable grid and in graphical format. Click here
Analogue Years calculator: Compare the evolution of a weather index
over previous years with the evolution of the current year. Use the eventual outcomes
of previous years as an indication of what may happen this time. Click here
Climatology Calculator: calculate kernel-smoothed 10-year
average daily values of temperature and rainfall for a selected range of sites.
Click here
Conditional Probability Calculator: allows the historical relationship
between a weather variable at Site A for a given period to be compared with Site
B for the same, or different period. E.g. do January temperatures in New York tell
us anything about February temperatures in De Bilt? Click here
Correlation Analysis: calculate the daily or monthly correlation
co-efficient and R-square value for two series. The tool also allows the auto-correlation
of a given series to be calculated showing the dependency up to 10 points out. Click here
Daily Degree Days Table: shows the recent daily values of HDD,
CDD or Average Temperature. Click here
Date Viewer: view historical data graphically. Click here
Index Calculator: calculate the historical values of a weather
index for a chosen period with or without detrending. Click here
Monthly / Weekly Index Calculator: calculate monthly, weekly or
bi-weekly index values of any chosen weather variable. Click here
Weather Analytics: shows user-specified weekly index values and
compares them with the previous year's values. Click here
Weather Index Cone: presents the evolution of a weather index over
the chosen index period and puts the current and previous years into historical
context. Click here
Services
Click here for summary information about our Services.
Weather Station Installation: With substantial weather-risk transactions,
the installation of a weather station can improve real-time data quality, ensure
data security for settlement and therefore help bring down the cost of a weather
hedging program. We have extensive experience of weather station installation and
of acting as settlement agent for weather transactions using such stations. Click
here for more information.
Independent Weather Derivative Valuation Service. Speedwell have
been involved in the weather market since 1999. We have the skills, experience,
tools and the weather data necessary to provide an independent objective assessment
of the fair value of a weather derivative structure or portfolio of structures.
Please contact us.
Forensic Weather Services. We are able to advise on insurance claims
related to weather. Please click here for more information
Weather Derivative Risk Placement Services. Please contact
us for more information and to request a presentation on the issues involved in
optimally placing weather risk. These services are
provided by Speedwell Weather Derivatives Limited, which is authorised and regulated
by the UK. Financial Services Authority.
Weather risk analysis: contact us to help you understand your weather
risk. We have undertaken a range of projects to help companies understand weather
correlations across a range of renewable power generation assets.