Mumbai’s rains are set to become a tradable asset in India. India’s National Commodity and Derivatives Exchange (NCDEX) will launch the country’s first exchange-traded weather derivatives contract on June 1, allowing participants to hedge financial exposure arising from fluctuations in the rains in Mumbai.

NCDEX has announced Indias first SEBI-approved exchange-traded weather derivatives contract, “RAINMUMBAI”, aimed at helping market participants hedge risks arising from monsoon…

NCDEX launches RAINMUMBAI, a rainfall derivatives contract for Mumbai's monsoon, enhancing risk management for diverse investors.