The National Commodity and Derivatives Exchange (NCDEX) has introduced RAINCHNNAI, a weather futures contract tied to Northeast monsoon rainfall in Chennai. It is cash-settled and uses official India Meteorological Department (IMD) data from the Meenambakkam and Nungambakkam stations. Chennai gets nearly 70% of its annual rain from the Northeast monsoon, mainly in October–December. The contract uses the Cumulative Deviation Rainfall (CDR) model to measure deviation from the Long Period Average, initially with September to December expiries, helping agriculture, logistics, retail and utilities hedge rainfall risk.