For the first time, the Wall Street Stock Exchange begins trading in water

The Bloomberg Economic Agency reported that the US Wall Street Stock Exchange had started trading in water in addition to gold, oil and other commodities.

The economic agency said plans to swap water futures became known in September of this year, when wildfires and heat caused massive damage on the west coast of the United States. .

And Bloomberg noted that these contracts will help protect large water consumers, such as farmers and the electric power industry, from fluctuations in water prices. This means that consumers will be able to protect themselves against rising water prices.

According to the agency, the water futures contract is linked to the “NASDAQ Felice California Water Index”, launched in 2018. It measures the weighted average price of water.

Futures contracts will be financially settled instead of requiring actual physical delivery of the water, and the contracts will include quarterly contracts through 2022, each representing 10 acres of water.

On the flip side, the Nasdaq index on Wall Street closed Monday at a record high after investors turned to buying growth stocks. And received “Nasdaq” a boost from the rise in shares of big tech companies such as “Facebook.”

Source: Bloomberg + Reuters

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