Innovation

These markets will become a crucible for innovation and dynamic change. This will give more growth to derivative markets as we move forward.

Former CEO of CME Group, global derivatives exchange leader.

We define the credit risk of a bond portfolio as the volatility of the CDS basket which would perfectly hedge the sovereign risk of the portfolio.

Much jitteriness in this recent crisis has come down to 'flying blind' – where investors and risk managers have been caught somewhat unaware, and do not have the visibility to make decisions with support.

You cannot govern a 21st century globalised business with the management style of an 18th century trading firm. In the same way, the modes (and rationale) of governance must be brought up-to-speed with the nature of the citizens they are responsible for.

In all the politics that's going on… everyone says that small business are the driver for growth. The truth is, it's not just small businesses… it's NEW businesses. They are the ones that consume the largest number of jobs in an economy and lead to economic growth.

Instead of looking at hoarded cash as being a 'rainy day fund' we need to view these balances as stores of economic growth. This cash represents potential investments, new jobs, new innovations and the potential for significant wealth creation and diffusion.

Bill Gates of Microsoft is on-record as saying, 'Microsoft would not function as a company in the way that it does without operations in Israel.'

Mathematician & Topologist, Solved the 4-Dimensional Poincaré Conjecture

Israel is not called 'the start-up nation' for nothing. We have great statistics to show the number of start-ups per capita, the number of PhD's per capita, V/C Dollars per capita, Patents per capita and more. Israel creates a huge amount of innovative start-ups which are often bought out before they are even revenue producing!

Mathematician & Topologist, Solved the 4-Dimensional Poincaré Conjecture

In the same way that business entrepreneurship has transformed industry since the early 1970's, social entrepreneurship can transform the social sector by having people who are willing to take risks and innovate to help address social issues.

The old adage 'hedge funds are bought, not sold', will likely need to be revisited. Likewise, firms will be forced to adapt and evolve their infrastructures to process and pursue inbound inquiries from prospective investors.

Once you're able to reduce the human element, and automate the reporting of these statistics- you will be greatly reducing the potential for misbehaviour. This is where regulators can leverage technology, reduce their burden.

MIT Finance Professor & Pioneer of Quantitative Finance & Behavioral Economics

The DME was a bit of a unique experiment, we created an exchange before all parts of the ecosystem were in place.

One of the unique aspects of a prize is that when you put a dollar up in a prize purse, you're incentivising teams around the world to spend many times that dollar in pursuit of the competition. You are leveraging dollars in a completely different way- in a philanthropic pursuit.

We've found that innovation really happens when you constrain a problem very specifically and then throw it out to the world to solve. It's a slightly different way of thinking.

One of the unique aspects of a prize, and particularly an X-Prize, is that it doesn't require letters after your name, specific degrees or backgrounds or so on. We simply define what it is we want solved, and award the prize to whomever is able to accomplish that.

When you put a prize out there, you legitimise the pursuit of something which is often pretty audacious. Legitimacy also brings about renewed focus and vigour on the problem at hand- it's a little like the context of a 4 minute mile… nobody thought it was possible until it was achieved.