Report looking at possible lessons from the nuclear industry.
Ref: BIS/12/1059 PDF, 823KB, 77 pages
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Financial markets have evolved to become complex adaptive systems which rely on the high communication speeds and processing power of digital systems. Their failure could cause severe disruption to financial services and possibly the wider economy.
This report considers whether the nuclear industry can provide any useful lessons for financial markets. It focuses on:
- the approaches to systemic risk definition and evaluation
- the definition of protection system parameters, risk controls and architecture
- the need for trust in computer-based systems
This review was commissioned as part of the Foresight project on the future of computer trading.