Rogue algos could spark ‘systemic’ crashes, warns Goldman exec

Device proliferation and digital assets also altering risk environment, says Europe op risk head

rogue algo crash

It’s been almost 12 years since algorithmic trading strategies used by high-frequency traders helped trigger the “flash crash” of 2010. Yet rogue algorithms still have the potential to derail the financial system, according to the head of operational risk at Goldman Sachs Bank Europe.

Speaking on a March 15 panel debating non-financial risk during’s Op Risk Global spring event, Hagen Rafeld – formerly of Deutsche Bank and KPMG – discussed a range of expectations for the years ahead

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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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