WSI Introduces MarketFirst™ for Europe
Proprietary Technique Forecasts Government Weather Models
Birmingham, UK, 01 March 2007: — WSI Corporation, the world's leading provider of weather-driven business solutions, today announced WSI MarketFirstTM for the western European market, a proprietary, patent-pending technique to predict the forecast of future weather model runs, including the European Centre for Medium-Range Weather Forecasts (ECMWF) and the Global Forecasting System (GFS) issued by NOAA. The product is unique in that it is a “forecast of a forecast”, rather than a forecast of the weather.
Because weather drives the natural gas, electricity, and hydro-electric energy markets, WSI MarketFirst is issued one hour before the ECMWF and GFS Operational runs, providing early, valuable information to European energy traders. WSI MarketFirst predicts future model runs correctly 70 to 80 percent of the time.anagement and operational safety and efficiency for airports around the globe.”
“Energy traders are looking for unique, innovative products that give them an edge in the market,” said Ira Scharf, WSI’s Vice President of Energy Services. “There is additional complexity in Europe as there are a number of different weather models that move the energy markets. WSI has developed a suite of model forecasts to specifically address the needs of European traders looking for an advantage in this challenging environment. WSI MarketFirst is truly a breakthrough product that no one else in the industry can offer. “
About WSI MarketFirst
WSI MarketFirst predicts changes in the ECMWF for Europe (12Z & 00Z) as
well as the GFS for Europe (12Z & 06Z) and the US (12Z) Operational runs,
relative to each prior operational run. It is available one hour before the
ECMWF 12Z and 00Z and the GFS 06Z and 12Z models become available.
Available in the US and in Europe, the products are comprised of individual
forecasts for each day as well as two aggregate forecast periods. Because several
forecast models impact the European energy markets WSI MarketFirst for Europe
is available for both the ECMWF and GFS operational runs and a number of time
periods in order to meet customers’ specific trading needs.
The aggregate skill of the technique, expressed in terms of directional correctness, is 70 percent. However, for the 40 percent of WSI’s forecasts in which its confidence is highest, skill increases to 80 percent.
To learn more about WSI MarketFirst please contact Mark Stephens-Row
at +44 (0) 7802 592 100.
About WSI Corporation
WSI Corporation is the world's leading provider of weather-driven business solutions
for professionals in the aviation, media and energy markets, and multiple federal
and state government agencies. WSI is headquartered in Andover, Massachusetts
with offices in Birmingham, England, and is a wholly owned subsidiary of Landmark
Communications, Inc.
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