Marcello Minenna

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Marcello Minenna is Head of Quants at Consob and Academic Fellow at Bocconi University. He is Director of the Italian Customs and Monopolies Agency.[1] He worked out pioneering results in the field of quantitative methods applied to the surveillance of financial markets focused on insider trading analysis,[2] market abuse detection[3] and risk disclosure of structured products through synthetic indicators.[4] In several public consultations these indicators have received the support of distinguished members of the international academia.[5][6][7][8]

For his work he has been cited as Quant Enforcer[9] and Quant Regulator[10] by Risk magazine.

Minenna is one of the European economists that propose a radical change of ECB policy, from an inflation target to an interest rate target, in order to achieve a substantial levelling of the real interest rates among the Eurozone countries (the zero spread strategy).[11] This would imply also the use of unconventional monetary measures, up to a partial debt monetization by the ECB.[12][13][14] This idea had some resonance in the national press[15][16] and abroad.[17][18]

He has been selected as finance chief in the council of Virginia Raggi in Rome. He resigned on the 31st of August 2016, together with other four senior city officials.[19]

Selected publications[edit]

  • The Incomplete Currency. Wiley, 2016. ISBN 978-1-119-01912-1.
  • La moneta incompiuta. Ediesse, 2013. ISBN 978-8823017641.
  • A Quantitative Framework to Assess the Risk-Return Profile of Non-Equity Products. Risk Books, 2011. ISBN 978-1-906348-59-5.
  • A Guide to Quantitative Finance. Risk Books, 2006. ISBN 978-1-904339-47-2.
  • M. Minenna. Insider Trading, Abnormal Return, value of preferential information: Supervising through a Probabilistic Model. Journal of Banking and Finance 27, no. 1 (2003), 59-86.
  • M. Minenna. Anamnesi dell'euro e possibili cure. Giurimetria-Rivista di diritto, banca e finanza, no. 1 (2015), 4-48.
  • M. Minenna. Indagine conoscitiva sugli strumenti finanziari derivati. Giurimetria-Rivista di diritto, banca e finanza, no. 2 (2015), 109-126.


  1. ^ "Direttore dell'Agenzia" [Agency's Director] (in Italian). Retrieved February 16, 2020.
  2. ^ "Inside insider trading". Risk magazine. March 2002. Archived from the original on 2018-12-14. Retrieved 2015-10-15.
  3. ^ "Detecting market abuse". Risk magazine. October 2004. Archived from the original on 2016-03-06. Retrieved 2015-10-15.
  4. ^ "Performance anxiety". Risk magazine. March 2011. Archived from the original on 2019-01-12. Retrieved 2015-10-15.
  5. ^ "Response to the Consultation by Commission Services on legislative steps for the Packaged Retail Investment Products initiative" (PDF).
  6. ^ "Opposition grows to Prips risk indicator proposal". Risk magazine. March 2011.
  7. ^ Movement for Risk Transparency[permanent dead link]
  8. ^ "Regulation of Retail Structured Products" (PDF).
  9. ^ "Enter the quant enforcer". Risk magazine. June 2003.
  10. ^ "Enter the quant regulator". Risk magazine. May 2011.
  11. ^ Minenna, Marcello; Reviglio, Edoardo (August 14, 2015). "ECB policy change as part of political union". Official Monetary and Financial Institutions Forum.
  12. ^ Presentazione La Moneta Incompiuta al CNEL
  13. ^ Presentazione La Moneta Incompiuta a RaiNews24
  14. ^ "Curing the Eurozone". Risk magazine. November 2013.
  15. ^ Buono, Michele (November 20, 2013). "La valuta ombra" [Shadow Currency]. Corriere della Sera (in Italian).
  16. ^ Report - Rai 3 (2013-11-04)
  17. ^ "The ECB should bring back zero bond spread". WSJ Pro Central Banking. August 17, 2015.
  18. ^ Minenna, Marcello; Rorris, Adam (July 2, 2015). "Greece in crisis". Between the Line (Interview). Interviewed by Tom Switzer. ABC Radio National.
  19. ^ Sanderson, Rachel (September 1, 2016). "Rome resignations deal blow to Five Star's national ambitions". Financial Times.

External links[edit]