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Z/Yen

Coordinates: 51°30′54.4″N 0°5′29.1″W / 51.515111°N 0.091417°W / 51.515111; -0.091417

Z/Yen is a commercial think-tank, consultancy and venture firm headquartered in the City of London. It works in the financial services, technology and voluntary sectors on a range of projects from research to performance review and strategic management. Founded in 1994 and with associates around the world, Z/Yen has developed collaborative projects such as the London Accord, the Global Financial Centres Index, the Global Intellectual Property Index for Taylor Wessing and Taskforce 2000 (the UK industry response to the Millennium Bug). The London Accord and GFCI are constituent programmes of Z/Yen’s Long Finance initiative, which seeks to answer the question “When would we know our financial system is working?”

Z/Yen Group
IndustryConsultancy, Think-tank
Founded1994; 24 years ago (1994)
HeadquartersCity of London
Key people
Michael Mainelli

Ian Harris

Mark Yeandle
Websitewww.zyen.com

Z/Yen conducts market research and intelligence. It publishes most of its research freely on its own website.[1]

Z/Yen has recently published a considerable amount of research on mutual distributed ledger (aka blockchain) technology and its effects on the financial services industry.

The firm has also been contracted by DasCoin, a hybrid cryptocurrency, to publish a white paper on their digital currency explaining its economic modeling and its unique, decentralized-centralized architecture.

Contents

HistoryEdit

Early Years (1994-2000)Edit

In its formative years Z/Yen’s research and consulting included work for British Gas, the London Stock Exchange, the Defense Evaluation and Research Agency (DERA, now DSTL and QinetiQ) and Bloomberg, amongst others. Z/Yen played a major part in the founding of Taskforce 2000, the private sector initiative designed to alert people to the Millennium Bug. In 1996, Z/Yen established the £1.9M Financial Laboratory, an innovative joint venture between BZW (now Barclays Capital), Royal and Sun Alliance, The London Stock Exchange, DERA (now QinetiQ), City University, City University Business School, The Worshipful Company of Information Technologists and Silicon Graphics. This project won a £750,000 DTI Foresight Challenge award later that year.

In the late nineties Z/Yen’s not-for-profit sector work became a major part of the business, with extended work for Cancer Research Campaign, BEN, The Children's Society and others, plus significant gains at British Heart Foundation and a major trade union. Other work included undertaking a major pan-European study into the market for OTC derivatives outsourcing.

Turn of the Millennium (2000-2005)Edit

2001 saw the company receive significant recognition in the public arena, with a version of Z/Yen’s bourse game played at St James’ Palace as a part of a Marine Stewardship Council event; prizes were presented by HRH The Prince of Wales. Z/Yen launched PropheZy – a predictive Dynamic, Anomaly & Pattern Response (DAPR) system – in January 2003, receiving a £45,000 Smart Award from the Department of Trade and Industry. VizZy, a complementary visualisation system for PropheZy, was launched a year later.

Benchmarking became a significant section of Z/Yen’s work during this period, with record numbers of investment banks and brokerages participating in 2003.

Recent YearsEdit

In 2005 Z/Yen was appointed by the Institute of Fundraising, with partner Business in the Community, to run the enquiry line and information centre for the Payroll Giving Centre programme funded by the Home Office. Z/Yen created its flagship Global Financial Centres Index for the City of London Corporation in 2007 (bringing it in-house in 2010). 2007 also saw Z/Yen sell its investment banking cost-per-trade benchmarking unit to Aon, and launch the London Accord. This initiative, with the help of over 50 financial service sector contributors, looks to provide an open-source research resource on finance and environmental, social and governance (ESG) issues. A year later, Z/Yen launched a way of measuring the immeasurable, the Global Intellectual Property Index, for the legal firm Taylor Wessing.

Recent years have seen Z/Yen found the ExtZy game – creating a stockmarket from the internet – and pose the question, “When would we know our financial system is working?” though the Long Finance initiative. Research has included Index-linked carbon bonds, non-monetary trade and Confidence Accounting.[2]

Towards the end of 2011, Z/Yen decided to strengthen its international presence by establishing a Swiss office in Geneva.

Since Bitcoin's release in 2009, there has been a considerable amount of interest in the underlying distributed ledger technology (aka blockchain) which facilitates its transactions. Z/Yen's executive chairman Michael Mainelli, in association with Professor Mike Smith, has been working with mutual distributed ledgers, or MDLs, since the early 90's. Due to this expertise and recent interest in MDLs, Z/Yen shifted much of its research and resources towards this developing technology and community.

In late 2016, DasCoin, a new hybrid cryptocurrency, asked Z/Yen Group to organise a Long Finance seminar to introduce the a new cryptocurrency, ahead of its official launch on 14 January 2017 in Hong Kong. Entitled “DasCoin: A Hybrid Digital Store of Value System”, this seminar seeks to understand the intellectual thinking behind DasCoin, a hybrid solution which combines centralised and decentralised currency approaches. Z/Yen compared and contrasted DasCoin with other currency systems out there, from Bitcoin (obviously) to Ethereum, zcash, and others, on dimensions including governance, distribution criteria, authentication, the nature of the blockchain (public vs private) and the ecosystem surrounding the cryptocurrency.

PublicationsEdit

BooksEdit

  • Clean Business Cuisine: Now and Z/Yen - (2000) [3]
  • Information Technology for the Not-for-profit Sector - ICSA Publishing (2001) [4]
  • Expertise: Search and Deploy - (2003) [5]
  • The Road To Long Finance: A Systems View Of The Credit Scrunch - (2009) (with Bob Giffords)[6]
  • The Price of Fish - Nicholas Brealey Publishing (2011) [7]

Long Finance ReportsEdit

Title Author(s) Year Publisher
Smart Ledgers & Collective Defined Contribution Pensions Iain Clacher, Con Keating, and David McKee 2018 Long Finance (July 2018), 47 pages
Control Frameworks For Cryptocurrencies: An Initial Evaluation Matthew Leitch and Aleksandar Matanovic 2018 Long Finance (July 2018), 91 pages.
Timestamping Smart Ledgers - Comparable, Universal, Traceable, Immune Sam Carter 2018 Long Finance (June 2018), 55 pages.
Economic Simulation Of Cryptocurrencies Michael Mainelli, Matthew Leitch, and Dionysios Demetis 2018 Journal of Financial Transformation, Number 47, Capco (April 2018), pages 89-100.
The Economic Impact Of Smart Ledgers On World Trade Centre for Economics and Business Research 2018 The Worshipful Company of World Traders and Long Finance (April 2018).
The Global Financial Centres Index 23 (Chinese Edition) Mark Yeandle 2018 Z/Yen Group and the China Development Institute (March 2018), 45 pages.
The Global Financial Centres Index 23 Mark Yeandle 2018 Z/Yen Group and the China Development Institute (March 2018), 45 pages.
Liquidity Or Leakage - Plumbing Problems In Cryptocurrencies Rodney Greene and Bob McDowall 2018 Long Finance (March 2018), 61 pages.
The Global Green Finance Index 1 Greg Ford, Mireille Martini, Simon Mills, and Mike Wardle 2018 Z/Yen Group and Finance Watch (March 2018), 54 pages.
Get Smart About Scandals: Past Lessons For Future Finance Professor Tim Connell and Bob McDowall 2018 Long Finance (March 2018), 102 pages.
The Quantum Countdown: Quantum Computing And The Future Of Smart Ledger Encryption Maury Shenk 2018 Long Finance (February 2018), 61 pages.
Smart Ledger Geostamping - Steps Towards Interoperability & Standards Michael Mainelli and James Pitcher 2017 Long Finance (December 2017), 20 pages.
Auditing Mutual Distributed Ledgers (aka Blockchains): A Foray Into Distributed Governance & Forensics Michael Mainelli and Matthew Leitch 2017 Z/Yen Group, Long Finance, and DasCoin (November 2017), 37 pages.
A Primer On The Risk Structure And Contractual Accrual Rate Of DB Pensions Iain Clacher, Con Keating, and Anna Tilba 2017 The University of Leeds, the European Federation of Financial Analysts Societies (EFFAS), Newcastle University, and Long Finance (October 2017), 26 pages.
The Global Financial Centres Index 22 (Chinese Edition) Mark Yeandle 2017 Z/Yen Group and the China Development Institute (September 2017), 48 pages.
The Global Financial Centres Index 22 Mark Yeandle 2017 Z/Yen Group and the China Development Institute (September 2017), 48 pages.
Responsibility Without Power? The Governance Of Mutual Distributed Ledgers (aka Blockchains) Simon Mills and Bob McDowall 2017 Z/Yen Group, Long Finance, and The Cardano Foundation (July 2017), 48 pages.
Security And Sustainability In Defined Benefit Pension Schemes: A Response To The Department Of Work And Pensions Consultation Iain Clacher, Con Keating, and Andrew Slater 2017 The University of Leeds, the European Federation of Financial Analysts Societies (EFFAS), and Long Finance (May 2017), 125 pages.
Financial Innovations & Sustainable Development - A Paper For The Business & Sustainable Development Commission Michael Mainelli & Simon Mills 2017 Long Finance (Released for Publication January 2018), 50 pages.
The Global Financial Centres Index 21 Mark Yeandle 2017 Z/Yen Group and the China Development Institute (March 2017), 48 pages.
L'Innovation Financiere Au Service Du Climat: Les Obligations A Impact Environnemental Abdeldjellil Bouzidi and Michael Mainelli 2017 Revue Banque (Février 2017), 128 pages.
From Slips To Smart Contracts: Intelligent Technology In The London Wholesale Insurance Market Michael Mainelli and Bernard Manson 2017 Z/Yen Group, Long Finance, and The London Market Group (January 2017), 66 pages.
A Wholesale Insurance Executive's Guide To Smart Contracts Michael Mainelli and Bernard Manson 2017 Z/Yen Group, Long Finance, and The London Market Group (January 2017), 16 pages.
Trends And Innovations In Financial Services Mark Yeandle 2017 Z/Yen Group and the Toronto Financial Services Alliance. (January 2017), 34 pages.
The Missing Links In The Chains? Mutual Distributed Ledger (aka blockchain) Standards Michael Mainelli and Simon Mills 2016 States of Alderney, PwC, Cardano Foundation,Long Finance (November 2016), 74 pages.
The Global Financial Centres Index 20 Mark Yeandle 2016 Z/Yen Group and the China Development Institute (September 2016), 56 pages.
Chain Reaction: How Blockchain Technology Might Transform Wholesale Insurance Michael Mainelli and Bernard Manson 2016 PwC and Z/Yen Group, Long Finance (August 2016), 58 pages.
The Quiet Insurer: Mobility of the 'Other' Financial Service Shirley Beglinger 2016 Long Finance, (July 2016), 40 pages.
The Impact And Potential Of Blockchain On The Securities Transaction Lifecycle Michael Mainelli and Alistair Milne 2016 SWIFT Institute (May 2016), 80 pages.
The Global Financial Centres Index 19 Mark Yeandle 2016 Z/Yen Group (April 2016).
Sharing Ledgers For Sharing Economies: An Exploration Of Mutual Distributed Ledgers (aka blockchain technology) Michael Mainelli and Mike Smith 2015 Journal of Financial Perspectives, Volume 3, Number 3, EY Global Financial Services Institute (December 2015), 44 pages.
The Global Financial Centres Index 18 Mark Yeandle 2015 Qatar Financial Centre Authority and Z/Yen Group (September 2015), 55 pages.
Uses And Abuses Of Discount Rates A Primer For The Wary Dr Nick Goddard 2015 Long Finance (September 2015), 43 pages.
Promoting UK Cyber Prosperity: Public-Private Cyber-Catastrophe Reinsurance Michael Mainelli, Chiara von Gunten and Mark Duff 2015 Z/Yen Group, Long Finance, co-sponsored by APM Group (July 2015), 50 pages.
Financing the Transition: Sustainable Infrastructure in Cities Chiara von Gunten and Michael Mainelli 2015 Z/Yen Group and WWF, Long Finance (March 2015), 80 pages.
The Global Financial Centres Index 17 Mark Yeandle and Michael Mainelli 2015 Qatar Financial Centre Authority and Z/Yen Group, (March 2015), 52 pages.
Chain Of A Lifetime: How Blockchain Technology Might Transform Personal Insurance Michael Mainelli and Chiara von Gunten 2014 Z/Yen Group, Long Finance (December 2014), 51 pages.
Maritime Financial Centres Mark Yeandle 2014 Z/Yen Group and Busan Metropolitan City (November 2014), 18 pages.
Opportunities for Standards in Investment & Asset Management Michael Mainelli, Chiara von Gunten and Therese Kieve 2014 BSI and Z/Yen Group, Long Finance (October 2014), 20 pages.
Opportunities for Standards in Insurance Michael Mainelli, Chiara von Gunten and Therese Kieve 2014 BSI and Z/Yen Group, Long Finance (October 2014), 20 pages.
Opportunities for Standard Development in Insurance and Investment & Asset Management Chiara von Gunten, Therese Kieve and Michael Mainelli 2014 BSI and Long Finance, October 2014
The Global Financial Centres Index 16 Mark Yeandle and Michael Mainelli 2014 Qatar Financial Centre Authority (September 2014), 52 pages.
The Global Financial Centres Index 15 Mark Yeandle and Nick Danev 2014 Qatar Financial Centre Authority (March 2014), 58 pages.
Backing Market Forces: How To Make Voluntary Standards Markets Work For Financial Services Regulation Michael Mainelli and Chiara von Gunten 2013 BSI, Chartered Institute for Securities & Investment and Long Finance, (November 2013), 72 pages.
The Global Financial Centres Index 14 Mark Yeandle and Nick Danev 2013 Qatar Financial Centre Authority (September 2013), 53 pages.
The Global Financial Centres Index 13 Mark Yeandle and Chiara von Gunten 2013 Qatar Financial Centre Authority (March 2013), 48 pages.
Keep Your Lid On: A Financial Analyst's View of the Cost and Valuation of DB Pension Provision Con Keating 2013 Long Finance, Finance Shorts series, (March 2013), 31 pages
The Global Financial Centres Index 12 Mark Yeandle and Nick Danev 2012 Qatar Financial Centre Authority (September 2012), 48 pages.
Confidence Accounting: A Proposal Ian Harris, Michael Mainelli and Jan-Peter Onstwedder 2012 Chartered Institute for Securities and Investment, Long Finance, Association of Chartered Certified Accountants (July 2012), 66 pages.
Success of the Fittest: A Swift Survey of Shifts in Asset Management Bob McDowall 2012 Long Finance, Financial Centre Futures (July 2012), 40 pages.
The Global Financial Centres Index 11 Mark Yeandle, Jeremy Horne and Nick Danev 2012 Qatar Financial Centre Authority (March 2012), 48 pages.
In Safe Hands? The Future of Financial Services Gill Ringland, SAMI Institute 2011 Long Finance, Financial Centre Futures, (December 2011), 66 pages
Don't Stop Believing: The State and Future of UK Occupational Pensions Con Keating 2011 Long Finance, Finance Shorts series, (November 2011), 56 pages
The Global Financial Centres Index 10 Mark Yeandle, Jeremy Horne and Nick Danev 2011 Qatar Financial Centre Authority (September 2011), 40 pages.
The Great Game: Clustering in Wholesale Financial Services Dr Malcolm Cooper 2011 Long Finance, Financial Centre Futures, (June 2011), 50 pages
The Global Financial Centres Index 9 Mark Yeandle, Jeremy Horne, Nick Danev 2011 Qatar Financial Centre Authority (March 2011), 40 pages.
Finance, Biodiversity And Managed Ecosystems: Where's The Data? Chiara von Gunten and Dr Malcolm Cooper 2011 Natural Environment Research Council, Financial Services Knowledge Transfer Network and Z/Yen Group
Don't Stop Thinking About Tomorrow: The Future of Pensions Con Keating 2010 Long Finance, Finance Shorts series, (November 2010), 68 pages
Finance And Water: Where's The Data? Leonor Fishman and Dr Malcolm Cooper 2010 Natural Environment Research Council, Financial Services Knowledge Transfer Network and Z/Yen Group
The Global Financial Centres Index 8 Mark Yeandle, Jeremy Horne, Nick Danev, Ben Morris and Richard Leeds 2010 Qatar Financial Centre Authority (October 2010), 40 pages.
Finance And Forestry: Where's The Data? Stephanie Rochford and Dr Malcolm Cooper 2010 Natural Environment Research Council, Financial Services Knowledge Transfer Network and Z/Yen Group
In Search Of The Eternal Coin: A Long Finance View Of History Dr Malcolm Cooper 2010 Long Finance, Eternal Brevities series, (March 2010), 30 pages
Time To Stop Betting The House: Mortgages, Resilience and the Long Finance David Steven 2010 Long Finance, Finance Shorts series, (March 2010), 30 pages
The Global Financial Centres Index 7 Mark Yeandle, Michael Mainelli, Jeremy Horne, Nick Danev and Ben Morris 2010 City of London Corporation (March 2010), 38 pages.
The Global Financial Centres Index 6 Mark Yeandle, Jeremy Horne, Nick Danev and Ben Morris 2009 City of London Corporation (September 2009), 30 pages.
The Road To Long Finance: A Systems View Of The Credit Scrunch Michael Mainelli and Bob Giffords 2009 Centre for the Study of Financial Innovation, ISBN 978-0-9561904-4-4, 62 pages.
The Global Financial Centres Index 5 Mark Yeandle, Jeremy Horne, Nick Danev and Alexander Knapp 2009 City of London Corporation (March 2009), 52 pages.
The Global Financial Centres Index 4 Mark Yeandle, Jeremy Horne and Nick Danev 2008 City of London Corporation (September 2008), 16 pages.
The Global Financial Centres Index 3 Mark Yeandle, Alexander Knapp, Michael Mainelli and Ian Harris 2008 City of London Corporation (March 2008), 74 pages.
The Global Financial Centres Index 2 Mark Yeandle, Michael Mainelli and Ian Harris 2007 City of London Corporation (September 2007), 78 pages.
The Global Financial Centres Index 1 Michael Mainelli and Mark Yeandle 2007 City of London Corporation (March 2007), 64 pages.
The London Accord Michael Mainelli and Jan-Peter Onstwedder (eds) 2007 Z/Yen Group and City of London Corporation, (September 2007), 80 pages

ArticlesEdit

A regularly updated list of articles can be found in the 'Knowledge' section of the Z/Yen Website.

Regular IndicesEdit

  • Global Financial Centres Index [8]
  • Global Intellectual Property Index [9]
  • Global Green Finance Index[10]

ReferencesEdit

External linksEdit