Download PDF Introduction The rapid expansion of digital assets like Bitcoin (BTC) and Ethereum (ETH), marked by surging market capitalization and trading volumes, has signaled the arrival of a new asset class. Instruments for both cash and derivative exposure are now actively traded across crypto-native exchanges (like Deribit and Binance) Read more…
Download PDF Introduction – SPVs as the Backbone of Structured Finance Special Purpose Vehicles (SPVs) are separate legal entities formed by a sponsor, designed to acquire assets, issue securities and manage cash flows. SPVs are typically thinly capitalized with their own balance sheet, and many structured to be bankruptcy remote. Read more…
Download PDF Introduction PCA (principal component analysis) allows you to explain a system’s total variance through a number of orthogonal components, thus, independent between each other. The main PCs account for most of the variance of the system and represent the main factors that influence variability. In a trading environment, Read more…
Download PDF USA All major US equity indexes declined during the week as concerns about the labor market, stretched valuations in the tech sector, and prolonged uncertainty surrounding the longest government shutdown in US history weighed on investor sentiment. The S&P 500 fell 1.60%, while the Dow Jones Industrial Average Read more…
Download PDF Note that this is an academic project and we have no intention to utilize this project in real cash online poker as that goes against services terms of conditions. It is no coincidence that poker is frequently mentioned when discussing the world of trading, and that even firms Read more…
Download PDF Introduction Thames Water, the UK’s largest water and wastewater utility, enters the final quarter of 2025 burdened with more than £20bn of debt, limited liquidity, and a credit rating deep in non-investment-grade territory. The company, responsible for supplying water and wastewater services to approximately 15 million customers (roughly Read more…
Download PDF Introduction The past year has been difficult for the global automotive industry. Profitability has fallen, share prices have weakened, and several leading manufacturers have struggled to meet expectations. In this article, we explore the factors that led to this downturn and the reasons why even large-scale, multi-brand groups Read more…
Download PDF US U.S. equities ended the week mixed, signaling a pause in the market’s recent upward momentum. The Dow Jones Industrial Average advanced 0.32%, while the S&P 500 edged down 0.08% and the NASDAQ Composite gained 0.80%, supported by continued strength in large-cap technology names. In contrast, smaller companies Read more…
Download PDF Introduction Markets have long been known to exhibit persistent features over a period of time, through the years they have been described in several different ways: calm and turbulent, bullish and bearish, liquid and illiquid, due to macro conditions, geopolitical events, tech disruption, etc. These terms all refer Read more…
Download PDF Introduction The precious metals market is reaching sky-high valuations; gold (Au) has broken $4,000 per ounce for the first time in history, dragging silver (Ag) to its decade-best levels alongside. The rally emerges as geopolitical uncertainty and conflicts drive central banks and investors to these traditional safe havens. Read more…
Download PDF Introduction Over the years many researchers studied returns in the market, in particular empirical analysis has shown that market returns follow a quasi-normal distribution. This assumption however doesn’t capture the fact that markets exhibit more sharp movements than what the standard normal distribution would imply, thus we say Read more…
Download PDF Introduction Europe is recalibrating its industrial strategy for an era of geopolitical rifts and economic rivalry. After decades of prioritizing open markets and strict competition policy, EU leaders are now increasingly willing to foster “European champions” in critical sectors to secure the continent’s strategic autonomy. Supply chain shocks Read more…
Download PDF Introduction The evolution of Non-Performing Loans (NPLs) in Europe was shaped by the structural changes triggered by the 2008 Global Financial Crisis, when economic recession and slow judicial enforcement caused a drastic rise in impaired assets between 2008 and 2014. As outlined by the European Banking Authority (EBA), Read more…
Download PDF Introduction Over the past decade, volatility as asset class has attracted the attention of several institutional investors, who consider it as an interesting hedge against long position in equities, given the evident negative correlation that persist between the two asset classes due to the leverage effect. Unfortunately, volatility Read more…
Download PDF Introduction In 2019, OpenAI’s CEO Sam Altman famously declared that the company did not have a clear plan on how to make money, but rather it planned to build Artificial General Intelligence first and then ask it how to generate a return. Nowadays, OpenAI stands at the centre Read more…