Research published by Professor Andrew Cairns in the School of Mathematical and Computer Sciences has been adopted by FTSE International in the calculation of its British government bond yield indices.
FTSE is best known for the FTSE 100 index which charts the ups and downs of the UK equity market. Its British Government yield indices which will now be calculated using Professor Cairns' model provide a benchmark for pension funds and life insurers to value their liabilities.
The Department of Actuarial Mathematics and Statistics is well known for carrying out internationally leading research that is motivated by problems arising in the financial services industry. This latest success gives a great boost to this strand of its activities.