Prime Brokerage — Embedded Leverage and Counterparty Risk

Prime brokerage as a financing + services bundle, and why it can concentrate tail risk.

February 3, 2026 · 1 min

Counterparty Default Risk: Exposure Uncertainty and Contagion Beyond Contractual Losses

Notes on counterparty default risk, exposure dynamics, and contagion mechanisms under stress.

February 2, 2026 · 2 min