Future options
Operational risk derivatives have been touted for a few years now, and interest in them moves in waves, but the current tide is high. Duncan Wood tests the water
If there's no smoke without fire, the dense clouds billowing around operational risk derivatives would suggest an almighty conflagration. "There is a huge amount of chatter about op risk derivatives," says Marcelo Cruz, head of operational risk at Lehman Brothers in New York. "A lot of people have become interested in more sophisticated hedging alternatives since they advanced on their measurement
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