Friday, Dec 18, 2009
We have now added contracts for 2010 and 2010 to the existing market for 2009 being one of the five warmest years on record. This expanded market can be found under Climate and Weather -- 2009-2011 Global Average Temperatures.
Contract Rules:
A contract will settle (expire) at 100 ($10.00) if the Global Average Temperature for the year specified in the contract is among the five warmest years on record.
The contract will settle (expire) at 0 ($0.00) if the Global Average Temperature for for the year specified in the contract is NOT among the five warmest years on record.
Expiry will be based on the data published by the NASA Goddard Institute for Space Studies. Further details can be found HERE.
The data used to expire this contract will be based on "surface air measurements at meteorological stations and ship and satellite measurements of sea surface temperature", as also used in the GISS Surface Temperature Analysis 2008 Summation (as an example).
The contract will be expired once the information required for expiry is available. The contract may therefore remain open into the following year.
Due to the nature of this contract please also see Contract Rule 1.7 Unforeseen Circumstances.
The Exchange reserves the right to invoke Contract Rule 1.8 (Time Protection) if deemed appropriate.
Any changes to the result after the contract has expired will not be taken into account - Exchange Rule 1.4
Please contact the exchange by emailing help@intrade.com if you have any questions regarding this contract before you place a trade.