About CME Hurricane Futures

The underlying indexes for CME Hurricane futures and options on futures will be calculated by Carvill, a leading independent reinsurance intermediary in specialty reinsurance that tracks and calculates hurricane activity. To learn more about the Carvill Hurricane Index, click here.

Using publicly available data from the National Hurricane Center of the National Weather Service, the Carvill Hurricane Indexes (CHI™) use the maximum wind velocity and size (radius) of each official storm to calculate the potential for damage. The front contract expires when a hurricane makes landfall with the expiration pegged to the CHI. The contract tick size is 0.1 CHI point, which is equivalent to $100.

CME Group has developed three types of contracts for hurricane futures and options in six U.S. defined areas – the Gulf Coast, Florida, the Southern Atlantic Coast, the Northern Atlantic Coast, the Eastern U.S., and CHI-Cat-In-A-Box – Galveston-Mobile.

Hurricane futures will trade on CME Globex® from 5:00 p.m. to 3:15 p.m. the following day Chicago time and options on hurricane futures will be available for trading 8:30 a.m. to 3:15 p.m. Chicago time on the CME trading floor.

For information on CME Weather Block trading click here.