Fintech Lab Wiki - User contributions [en]

Massimo Morini

2025-01-11T19:48:17Z

Morini: Added links to Linkedin, Google Scholar, and Publications page

===Massimo Morini===

====Career====

I was Head of Interest Rates & Credit Models at Intesa San Paolo bank from 2006 to 2019, directing the development and implementation of the quantitative models for trading, risk management, and regulatory compliance. In the meanwhile, I was an advisor for the World Bank in Washington D.C for 7 years and for the Monetary Authority of Singapore for 4 years.

Around 2014 I found out about Bitcoin and I followed the creation of Ethereum, becoming passioned for blockchain technology and its applications. In 2016 I became Board member for the R3 consortium created by Goldman Sachs and JP Morgan to apply blockchain technology in finance. In 2018 I was invited by Silvio Micali, MIT cryptography professor and Turing Prize, to join the Algorand Blockchain.

I was Chief Economist at Algorand Foundation from 2019 to 2023, working at the design of new incentives and supply management, the launch of decentralized governance, and the development of the Decentralized Finance market. I also headed the Treasury and the Market Research units.

Since 2023 I’m economic advisor for Cardano, a long-term top 5 public blockchain. I have recently founded EMMA, supporting blockchain ecosystems and financial institutions and providing Advisory and Analytics for Economic and Mathematical Modelling.

[https://www.linkedin.com/in/massimo-morini-37a3246/ Linkedin]

====Research====

I have a PhD in Maths focused on Stochastic Calculus for financial markets. During it I was awarded a Marie Curie fellowship at London City University in 2004. My first degree is in Economics and Quantitative Methods.

During my career I continued my research in mathematical finance, publishing for Wiley two seminal bools, on Model Risk in 2011 and on Collateral Management for Credit Risk in 2013. I published several articles on top mathematical finance journals, and in the same years I was in the top 5 quoted authors for Risk, the most widespread journal for quant practitioners in finance.

Between 2015 and 2017 I wrote the first papers proposing decentralized financial products with collateral automation designed on Ethereum Smart Contracts. My papers have been were quoted by US regulators in their parliament hearings on blockchain applications, and regularly reported on Coindesk, the leading sector magazine.

[[Selected Publications]]

====Teaching====

Since 2019 I am Professor of Blockchain and Digital Currencies, a Swiss Finance Institute course, at the University of Lugano.

I am a scientific director for the Master in Quantitative Finance at Milan Polytechnic, where I teach in the Fintech Master.

I gave invited lectures and courses at Oxford University, Imperial College, African Institute of Mathematics and other institutions.

I teach in Bocconi since 2007, and [https://faculty.unibocconi.eu/massimomorini/ my courses at the department of finance] have run since then, transforming with the transformation of financial markets.

[https://scholar.google.com/citations?view_op=list_works&hl=en&user=qa7EOX4AAAAJ Google Scholar]

Moderators

2025-01-11T19:33:54Z

Morini: Edite my previous test to a correct version

== List of current Moderators ==
Moderators are scientific contributors to the projects funded by the Fintech Lab. They have the right but not the obligation to validate contributions present on the wiki. Each Scientific Moderator brings the scientific responsibility of a validated contribution.

* Laura Bottazzi
* Massimiliano M. Croce
* Peter Gruber
* [[Massimo Morini]]
* Barbara Rindi

* Elena Suragni (Adm Staff)
* Mariachiara D'Attoma (Adm Staff)

== Members of the Steering Committee of Algorand Fintech Lab (Expired Dec 2023) ==

* Anna Battauz
* Stefano Caselli
* Donato Masciandaro
* [[Massimo Morini]]
* Fulvio Ortu
* Co-Pierre Georg
* Sara Caratti
* Doro Unger-Lee

Selected Publications

2025-01-11T19:31:04Z

Morini: Created list of publications

=== Books ===

'''Counterparty Credit Risk, Collateral and Funding: With Pricing Cases for All Asset Classes'''
D. Brigo, M. Morini, A. Pallavicini, John Wiley & Sons, 2013.

'''Interest Rate Modelling After the Financial Crisis'''
M. Morini, M. Bianchetti (Editors), Risk Books, 2013.

'''Understanding and Managing Model Risk: A Practical Guide for Quants, Traders, and Validators'''
M. Morini, John Wiley & Sons, 2011.

=== Selected Papers ===

''Towards A Capital Efficient Digital Currency''
A. Prampolini, M. Morini, The FinReg Blog, Duke Financial Economics Center, 2023

''Decentralized Financial Market Infrastructures''
S. Feenan, D. Heller, A. Lipton, M. Morini, et al. The Journal of FinTech, Vol. 1 (02), 2021

''Blockchain for Risk Management''
M. Morini, P. Tasca, Harvard Business Review, AP Vol. January, 2017

''From Blockchain Hype to a Real Business Case for Financial Markets''
M. Morini, Journal of Financial Transformation, vol. 45, 2017

''Smart Derivatives can cure XVA headaches''
with R. Sams, Risk Magazine, 2015

''Interest Rate Modelling in the Multi-Curve Framework''
M. Morini Quantitative Finance, Vol. 16 (2), 2016

''Counterparty risk pricing: Impact of closeout and first-to-default times''
D Brigo, C Buescu, M Morini, International Journal of Theoretical and Applied Finance 15 (06), 2014

''No‐armageddon measure for arbitrage‐free pricing of index options in a credit crisis''
M. Morini, D. Brigo, Mathematical Finance, 2011

''Hedging Efficiently Under Correlation''
R. Daluiso, M. Morini Quantitative Finance, Vol. 17 (10), 2017

''Risky Funding with Counterparty and Liquidity Charges''
M. Morini, A. Prampolini, Risk, Vol. 24 (3), 2011

''Joining the SABR and LIBOR Models Together''
F. Mercurio, M. Morini, Risk, Vol. 22 (3), 2009

''What did not work in securitization''
E. Barucci, M. Morini, in After the Shock, Bocconi Ed. 2009

''Efficient Analytical Cascade Calibration of the LIBOR Market Model''
D. Brigo, M. Morini, Journal of Derivatives, Vol. 14 (1), 2006

''The LIBOR Model Dynamics: Approximations, Calibration and Diagnostics''
D. Brigo, F. Mercurio, M. Morini, European Journal of Operational Research, Vol. 163 (1), 2005

''An EZI Method to Reduce the Rank of a Correlation Matrix in Financial Modelling''
M. Morini, N. Webber, Applied Mathematical Finance, Vol. 13 (4), 2006