I live in a land of boundless opportunity and bubbles of all manner and description............. Chicago Merc to Trade Snowfall Futures By DAVE CARPENTER AP Business Writer CHICAGO (AP) -- First came temperature futures, then frost-day futures. Now - futures involving how much snow falls at Logan Airport in Boston or New York's Central Park. In the latest evidence that almost anything goes in the marketplace, meteorologically speaking, the Chicago Mercantile Exchange said Thursday it will begin trading snowfall futures and options contracts later this month. The world's largest derivatives exchange said the new product, which will trade electronically starting Feb. 26, should help cities manage risk associated with snow accumulation. Insurance companies, retailers and other businesses with a lot riding on the weather also can use the futures to hedge their risk. "The impact of weather can influence regional and local markets, playing a critical role in the overall economy," said Rick Redding, the exchange's managing director of products and services. "CME weather futures provide the safety and soundness investors are seeking to manage their weather-related risk."