Stamford-based Tradition Financial Services LLC (TFS), is the largest broker of weather derivatives in the world. This year, TFS completed an auction on behalf of UBS looking to hedge its risk. The deal totaled in excess of $60 million and ended up being oversubscribed because of the high amount of interest in the transaction.
TFS also brokered the first-ever weather derivatives auction for a company in Rometotaling $40 million. Other auctions included an auction for the agricultural industry  and the first auction for Asia. These weather auctions traded over $160 million in notional value.