WASHINGTON, DC--(Marketwire - June 18, 2009) - Speedwell Weather Derivatives (SWD), a leader in the provision of data and tools to the weather risk community, and the Commodity Weather Group (CWG), provider of weather forecasts to the commodities markets, today announced the formation of a strategic alliance. This combines SWD's vast global data offerings and weather risk analysis expertise with CWG's best-in-class forecast services.

As leaders in their respective business areas, this alliance will offer customers a more comprehensive level of service by combining Speedwell's expertise in data provision, quality-control, Recalibration, and provision of tools (www.SpeedwellWeather.com) with CWG's commodity-specific forecast and consulting services (www.commoditywx.com). Initial activities will focus on joint marketing while product development activities continue.

"Customers today are looking for a one-stop shop for weather services. Global commodity traders need to look towards the future while understanding what is happening now and how that relates to the past. By working together we optimally combine the quantitative skills of SWD with the qualitative forecasting expertise of CWG," said David Whitehead, Speedwell Director of U.S. Operations.

"This strategic alliance is a perfect fit for providing a solutions-based approach to helping our mutual customers grow and support their businesses," said Matt Rogers, President of CWG. "Our clients will be happy to hear that they will now have access to the best weather data available."

Speedwell Weather Derivatives

Speedwell Weather Derivatives supplies historical and real-time weather data for thousands of weather sites across the globe. SWD has direct data supply agreements with a wide range of national meteorological services and provides a single-point of contact for the provision of official weather data. SWD is the provider of the Speedwell Weather System, the preeminent weather derivative pricing and risk management software.

Commodity Weather Group

CWG is the most experienced consulting group for commodity weather support. Using a combined experience level of 75 years in the sector, CWG maintains a full short, medium, and long range forecast service, provides special reports on key market-moving concerns, and maintains high levels of communication with its client base. Launched in April, the CWG team includes David Streit, Ken Wells, Matt Rogers, Joel Widenor, and Jason Setree.