In an increasingly complex trading environment, contracts are simply not up to the job, we've evolved beyond them. We've become more than negotiated terms, we've become an interconnected system and that needs new rules.\r
Complex relationships don't need more control, they need holistic thinking and a flexible economic model that seeks to rectify deviations from risk and reward boundaries and re-calibrates itself when the environment changes.\r
Nevertheless, let's keep this in mind. Although existing contractual constructs are outdated, we do still need a contract, one that has the capacity to flex as business happens. Yes, the contract is required! It just needs to evolve.
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