In the late 1990's the door to new career opportunities for meteorologists was opened by the commoditization of weather which created the weather market. Weather sensitive energy businesses began transacting futures, options and other derivative contracts to hedge the uncertainty caused by extreme temperatures in summer and winter. Financial weather risk management has evolved as an essential function for energy company CFO's.

The scope of this presentation is to educate AMS members about the important role of the meteorologist in finance. The Weather is Money session will provide an introduction to commodity markets and the field of weather derivatives. This is of particular value to those members who interact with companies in the energy sector, as well as to those engaged in teaching or mentoring. Our panelists will address the key factors in making the transition from forecasting to financial decision making.

Weather is Money will also unveil the upcoming competition in trading CME Group weather futures. This contest will complement the academic forecasting competitions in which many AMS members have participated, and serve as training for the next generation of weather traders.