The real rocket scientists

As US space agency Nasa overhauls its risk management practices in preparation for a return to the Moon, Alexander Campbell looks at its new operational risk system

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Risk management failures are rarely as tragically visible as those of the US National Aeronautics and Space Administration (Nasa). On January 26, 1986, the space shuttle Challenger exploded shortly after lifting off, killing its crew in what Nasa management told the subsequent inquiry was a "one in 100,000" event.

Richard Feynman, Nobel Prize-winning physicist and one of the Challenger accident investigators, castigated Nasa's misunderstanding of the risks: "It would appear that ... the

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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