Dominion Water Reserves Applaud the Launch of First Ever Water Futures Based on Nasdaq Veles California Water Index
MONTREAL, Sept. 21, 2020 (GLOBE NEWSWIRE) -- Dominion Water Reserves Corp. (“DWR‐ CSE”), a holding company with water reserves and operations across Quebec applaud the launching of the first ever Water Futures based on Nasdaq Veles Water Index.
Nasdaq Veles California Water Index futures will be an innovative, first‐of‐its‐kind tool to provide agricultural, commercial, and municipal water users with greater transparency, price discovery, and risk transfer – all of which can help to more efficiently align supply and demand of this vital resource.
“With nearly two‐thirds of the world’s population expected to face water shortages by 2025, water scarcity presents a growing risk for businesses and communities around the world, and particularly for the $1.1 billion California water market,” said Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products. “Developing risk management tools that address growing environmental concerns is increasingly important to CME Group.
This innovative, new water contract builds on our strong partnership with Nasdaq, as well as our proven 175‐year track record of helping end users and other market participants manage risk in essential commodity markets including agriculture, energy, and metals.”
“The Nasdaq Veles California Water Index helps drive better outcomes for water market participants through verifiable price discovery,” said Lauren Dillard, Executive Vice President and Head of Nasdaq Global Information Services. “Our collaboration with CME Group has the power to deliver greater transparency around the management of an important natural resource.”
Marie‐Claude Bourgie, interim president, DWR, comments, “a Futures Contract is a natural evolution for a high demand commodity now being referred to as ‘blue gold’. Because of drought, pollution, desertification (soil fertility loss), and the effects of climate change, water is becoming increasingly scare and therefore precious. Further water futures contracts for other jurisdictions will serve to properly value the assets of such issuers, while providing further insights to both investors and consumers.”
About Dominion Water Reserves
The company's primary business is the acquisition and management of natural spring water sources in North America, with an initial focus on the development of the DWR water rights located in the province of Quebec. By combining an acquisition program targeting long‐term asset play with a recurring cash flow to reach a critical mass in terms of capacity and geography, and developing, with a focus on prioritizing sustainability and environmental consciousness, groundwater collection, water withdrawal and water pumping for the purpose of selling or distributing spring water, the company's goal is securing a leadership role in the spring water market in North America. The DWR water rights and DWR additional water rights represent access to over three billion litres of spring water per year.
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