Financial Cartography - Talk at Cambridge Risk Summit 2015
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Maps are data visualizations that we are very familiar with and which we use on a daily basis be they on our smartphones or on paper. Maps lay out the complex multidimensional real world in an easily understandable dimensional projection. We need similar maps to understand the structure and dynamics of financial markets and infrastructures, replacing geographic distance with measures of association, exposure, flow or correlation. Network Theory provides the foundations for undertanding complex interactive systems. By taking into account links we can make many risk models more relevant to the real works of finance. This has not been done before.
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Financial Cartography - Talk at Cambridge Risk Summit 2015
- 1. FINANCIAL CARTOGRAPHY AND RISK TESTING Centre for Risk Studies 6th Risk Summit Cambridge, 22 June 2015 Kimmo Soramäki Founder and CEO www.fna.fi, kimmo@fna.fi FNA
- 2. Network Theory and Financial Risk New Journal ‘Network Theory in Finance’ was launched in March 31, 2015 Editor in Chief: Kimmo Soramäki Editorial Board included e.g. Andrew Haldane, Bank of England Franklin Allen, Imperial College/Wharton Ignazio Angeloni, ECB “Journal of Network Theory in Finance is an interdisciplinary journal publishing rigorous and practitioner-focused research on the application of network theory in finance. The journal connects academia, regulators and practitioners in solving important issues around financial risk” 2nd Annual Conference on 9 September 2015 in Cambridge, UK. Call for papers is out! Submit paper to kimmo@fna.fi
- 3. Maps, Latitudes, Longitudes Eratosthenes' map of the known world c. 194 BC How did he capture the data? What algorithms did he use for the layout?
- 4. Modern Maps 1. Visualize data 2. Place you on the map 3 . Provide directions
- 5. Financial Cartography Bank Equity Cross Holdings International RemittancesKorean Interbank Payments FX Settlement SWIFT Message Flows Bank-Asset networks
- 6. Maps for Portfolio Stress Testing Greek Debt Crisis 2009 - Global Property Crash (Cambridge Scenario)
- 7. Global Property Crash One of several “1-in-100” scenarios developed by the Centre for Risk Studies. We’ll look at the impact of the scenario on a typical insurance investment portfolio. Headlines: • China suffers a property crash • 40% devaluation of prices in 6 months • China banks write-off their mortgage assets • Other property-related investment assets devalue
- 8. Global Property Crash -Scenario
- 9. Greek Debt Crisis 2009 - View Interactive Dashboard
- 10. Dr. Kimmo Soramäki Founder and CEO kimmo@fna.fi FNA