Keeping the robots honest

Human overseers are in short supply in an arena where losses can be crippling in minutes


The robots need minding. But the human monitors needed to make algorithmic trading safe are in short supply.  

“There’s no script for algo trading risk management,” said Jason Conn, head of electronic trading operational risk management at Citi, at the OpRisk North America conference on June 18. “We know some of our peers are doing it differently. Some have engaged model risk teams and some have not.”

Conn said the lack of historical data and personnel was holding back the effort. While banks

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Calibrating interest rate curves for a new era

Dmitry Pugachevsky, director of research at Quantifi, explores why building an accurate and robust interest rate curve has considerable implications for a broad range of financial operations – from setting benchmark rates to managing risk – and hinges on…

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