Antoine Bouveret is Senior economist at the European Securities and Markets Authority (ESMA) in Paris. He holds a Ph.D in Economics from Sciences-Po. Antoine started his career at the French Treasury at the beginning of the Global Financial Crisis, where he worked on financial markets issues. He joined ESMA in 2011, where his work focused on high-frequency trading, interest rate benchmark reform and shadow banking. He then moved to the International Monetary Fund (2014-2018), where he pursued analytical work on risks in the asset management industry, stress testing for non-banks and cyber risk. Since September 2018, Antoine is back at ESMA where he works on financial stability issues in the asset management sector.
The objective of this paper is to analyze cyber risk from an operational risk perspective and to measure cyber risk empirically.