The SMAI European Summer School in Financial Mathematics is an important body of the

Chaire Derivatives of the Future

This is a research project at Ecole Polytechnique, sponsored by the

French Federation of Banks / Fédération Bancaire Française

which focuses on the pricing and hedging of derivative securities under various market imperfections. Such derivatives are invented by the market at regular basis with plenty of imagination. The name of the project refers to the unpredictable nature of the structure of these derivatives, and is intended to contain a wide range of examples from securities markets, energy markets, life insurance, carbon emission market...

This Chaire is hosted by the Foundation of the Europlace Institute of Finance 

We also acknowledge the partial support of the Science of Decision GIS (Group of Scientific Interest) which aims at building research collaborations between HEC, ENSAE and Ecole Polytechnique

and of the European Science Fundation, Amamef program.


CMAP UMR 7641 École Polytechnique CNRS, Route de Saclay, 91128 Palaiseau Cedex France, Tél: +33 1 69 33 46 00 Fax: +33 1 69 33 46 46