The RTS is currently developing the futures contracts with the cooperation of the Federal Service for Hydrometeorology and Environmental Monitoring, it said.
Weather derivatives were first traded on the Chicago Stock Exchange in 1999.
"Weather changes are a major factor affecting the economic activity of sectors such as agriculture, transport, construction, electricity, the coal industry, oil and gas, and others. Insurance of risks using weather futures contracts will make it possible to lessen the risk of financial losses resulting from unfavorable weather conditions," the statement said.
"The launch of the futures will allow an increase in the efficiency of spending plans and the use of resources, enabling business units to operate even in unfavorable weather conditions," the RTS statement quoted company Vice President Roman Goryunov as saying.
Federal Service for Hydrometeorology and Environmental Monitoring General Director Marina Petrova said, "Despite improvements in meteorological forecasting, predicting the weather over long periods of time is difficult. Therefore, for companies with a high level of dependence on the weather, one effective means of protecting themselves against weather risks is hedging using futures contracts."
