Deutsche Bank is planning to market its weather derivatives products globally. Ross McIntyre, director and head of weather risk, said the group has been focusing on Europe, but is now seeking business in other regions, mainly North America, Australia and Japan. McIntyre said the driving force behind the expansion has been inquiries from customers in those regions. Previously, Deutsche Bank would have made prices in response to customer inquiries, but had not been proactive in finding new customers, McIntyre said.
Trading will continue from the firm's desk in London and the products will be sold from its existing sales force in those regions. "This is a very new product for risk managers around the world," McIntyre said. "When demand is required, then we will think about putting desks around the world," he added, stressing that the expansion of its trading presence is not imminent.
