WSI Corporation, the world's leading provider of weather-driven
business solutions, today announced WSI MarketFirst(TM) 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.
"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.
More information about WSI can be found at www.wsieurope.com
