Derivatives for the Orbital Economy
We arrange bilateral OTC parametric derivatives on space risk, giving space operators and insurers a way to transfer orbital exposure to institutional capital providers seeking uncorrelated return
Products
Space risk is not uniform.
Our products are designed to match specific exposures, from catastrophic launch failure to systemic environmental risk, using the same underlying approach: Each settles against independent, objectively verifiable reference data. Trigger design and settlement mechanics vary by product.
These are OTC parametric derivatives. Your capital is at risk. Payouts depend solely on objective trigger conditions being met, not on actual losses incurred. These products are for professional clients and eligible counterparties only.
Launch
Risk
The launch insurance market is well-established, but limited by capacity.
When a manifest is large, a payload is unusually valuable, or a vehicle's flight heritage is limited, operators and their brokers often find the available limit falls short of the exposure.
Launch failure Swaps fill that gap, providing scalable capacity that complements the insurance tower without touching it.
Space
Weather
Bespoke
Solutions
Not every risk transfer problem fits a standard product.
For CFOs and treasury teams dealing with on-orbit asset monetisation, revenue protection, or constellation-level portfolio risk, we build custom derivative structures from scratch — working with your legal, financial and engineering teams to match the specific shape of the exposure. Bespoke structures are subject to discussion and approval by various parties to ensure compliance.
Space risk is increasing in scale and complexity, while the financial tools to manage it remain limited. Every contract has two sides — we work with the operators who carry that risk and the institutions that can absorb it.
➔ Operators
If you operate satellites, launch vehicles, or space infrastructure, you are carrying risk that is increasingly difficult to transfer.
Our products are designed to fill those gaps — capacity limits, correlated exposures, sublimits, and exclusions that sit outside a traditional program.
For catastrophic risks, they provide a predefined financial outcome. For broader programs, they add flexibility alongside an existing program.
This allows you to plan around worst-case scenarios, not just react to them.
➔ Protection Sellers
Space risk is genuinely uncorrelated with most institutional portfolios. Launch failures and geomagnetic storms do not move with markets or credit cycles.
Our products offer short-duration, objectively triggered exposures with transparent pricing and fast settlement.
Structures can be tranched — senior, mezzanine, and subordinate — to match different risk appetites and return targets.
Returns are not guaranteed. As protection seller, your maximum exposure is the full notional amount. Space derivatives are a nascent asset class with limited historical data; pricing models carry material uncertainty. There is no active secondary market — positions may be held to maturity.
➔ Brokers
All our products are designed to extend the risk transfer programs you've already built for your clients — not to replace them.
If you're advising a client who has hit a program limit, is exposed to correlated risk, or needs settlement on a defined timetable, we'd welcome a conversation.
How we fit in the risk stack
We extend the risk transfer toolkit that space operators and their brokers already rely on.
Our products compliment insurance, sitting above capacity gaps, excluded risks, and systemic exposures that require a different capital base than a program tower is built on..
Triggers and settlements are defined at execution. Settlement runs on a timetable defined at execution. For operators, this is capacity above the program limit. For brokers, it is a way to complete a placement that the insurance market cannot fill in size. One that expands what’s possible without replacing what’s already in place.
Our products are available in short and long-term structures, designed to align with mission timelines, critical orbital maneuvers, or customer activation milestones. And where a comprehensive on-orbit policy bundles exposures that an operator would prefer to manage separately, we can help disaggregate those risks into components.
Derivative payouts may not correspond to actual losses suffered (basis risk). Settlement depends on trigger conditions being met as defined in contract documentation.
Newsletter
Stay informed on the latest parametric derivative structures, market developments, and capacity opportunities in the orbital asset space.
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Allocation.Space Ltd is an Appointed Representative of Vittoria and Partners LLP (FRN 709710), authorised and regulated by the Financial Conduct Authority. These products are OTC parametric derivatives available to professional clients and eligible counterparties only. They are not suitable for retail investors. Your capital is at risk. Derivative payouts are determined solely by pre-defined trigger conditions and may not match actual losses (basis risk). Space derivatives are a nascent asset class — limited historical data means pricing models carry material uncertainty. Transactions are bilateral; Allocation.Space does not guarantee counterparty performance.
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