January 5, 2024 (NO COMMENTS)

Idiosyncratic nature of disputes and flare-ups leaves exchange and infrastructure operators blending metrics with guesswork


For the first two decades of this millennium, geopolitical risk threatened to become an afterthought for most market practitioners. Armed conflicts were omni-present in many corners of the globe during that time, but even the wars in Iraq and Afghanistan had little direct operational impact on most financial institutions, prompting many to embrace the ‘capitalist peace’ theory: close economic ties had turned sometime enemies into trade partners. Indeed, a 2019 BlackRock Investment Institute study