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We hereby certify that, Alberto Adrego Pinto, Universidade do Porto, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Optimal Life Insurance, Consumption and investment.

We hereby certify that, Álvaro Felipe Macías Araya, Instituto Nacional de Matemática Pura e Aplicada, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Numerical Methods and Models for Portfolio Liquidation and Risk Quantification.

We hereby certify that, Bruno Dupire, Bloomberg - NY, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: A Few Myths in Quantitative Finance.

We hereby certify that, Carlos Vázquez, Universidade da Coruña, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Speed up of derivatives pricing and calibration with SABR models in GPUs.

We hereby certify that, Carole Bernard, University of Waterloo, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Implied dependence versus implied correlation.

We hereby certify that, Chin-Hung Terence Ma, South Street Securities, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: The Measurement of Prepayment & Interest Rate Risks of Mortgage- Backed Securities.

We hereby certify that, Christopher Rogers, University of Cambridge, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Combining different models.

We hereby certify that, Claudia Sagastizábal, Instituto Nacional de Matemática Pura e Aplicada, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: On Modelling and Solving Risk- Averse Stochastic Equilibrium Problems.

We hereby certify that, Douglas Machado Vieira, Instituto Nacional de Matemática Pura e Aplicada, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Comments on a bid-ask model for liquid markets.

We hereby certify that, Emmanuel Gobet, École Polytechnique, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Rare Event Simulation Using Reversible Shaking Transformations.

We hereby certify that, Ernst Eberlein, Universitat Freiburg - Freiburg - Alemanha, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Valuation in illiquid markets and the Feynman-Kac representation.

We hereby certify that, Gyorgy Varga, Fce Consultoria, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Equity Liquidity Premium in Brazil.

We hereby certify that, Jorge P. Zubelli, Instituto Nacional de Matemática Pura e Aplicada, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Commodities, Derivatives on Futures, and Multiscale Models.

We hereby certify that, Jose Afonso Faias, Universidade Católica Portuguesa, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Option-implied information and return prediction.

We hereby certify that, Juan Carlos Arismendi Zambrano, University of Reading, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: An Analytic Approximation of the Implied Risk-Neutral Density of American Multi-asset Options.

We hereby certify that, Juan Pablo Cajahuanca Luna, Programa de Engenharia de Produção, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Benders decomposition for equilibrium problems with risk aversion.

We hereby certify that, Julien Guyon, Bloomberg, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Path-Dependent Volatility.

We hereby certify that, Lakshithe Wagalath, Iéseg School of Management, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Institutional investors and the dependence structure of asset returns.

We hereby certify that, Lane Hughston, Brunel University London, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Interest in the Long Term.

We hereby certify that, Marco Avellaneda, Courant Institute of Mathematical Sciences, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: The Meassurement of Prepayment & Interest Rate Risks of Mortage-Backrf Securities.

We hereby certify that, Martin Schweizer, Swiss Federal Institute of Technology, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: A new look at stochastic Fubini theorems.

We hereby certify that, Matheus Grasselli, Mcmaster University, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Dynamical Systems and Financial Instability - new modeling insights and empirical validation.

We hereby certify that, Max Oliveira de Souza, Universidade Federal Fluminense, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: A Hedged Monte Carlo Approach to Real Option Pricing.

We hereby certify that, Nikolai Kolev, Instituto de Matemática e Estatística, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Extreme Dependence Modelling in Energy Markets using Sibuya-type Copulas.

We hereby certify that, Raphael Douady, Université Paris I - Sorbonne, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: The Whys of the LOIS: Credit Skew and Funding Rates Volatility.

We hereby certify that, Roger Lee, University of Chicago, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Volatility skews of leveraged products in asymptotic regimes.

We hereby certify that, Ruth Kaila, Helsinki University of Technology, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Integrated variance and the Heston model.

We hereby certify that, Sebastian Jaimungal, University of Toronto, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Algorithmic and high frequency trading: data, models and methods.

We hereby certify that, Teemu Pennanen, King s College London, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Optimal investment and contingent claim valuation in illiquid markets.

We hereby certify that, Uwe Schmock, Vienna University of Technology, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Conditional Weighted Expected Shortfall, Conditional Distortion Risk Measures, and Application to Risk Capital Allocation.

We hereby certify that, Vinícius Hessel Benedito de Sousa, Instituto Nacional de Matemática Pura e Aplicada, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work:.

We hereby certify that, Xu Yang, IMPA - Pós-Doutorando, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Options on the Bill of Lading.

We hereby certify that, Youngna Choi, Montclair State University, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Financial Instability Contagion: modeling and data calibration.

We hereby certify that, Yuri Fahham Saporito, University of California Santa Barbara, participated in the Mathematics & Finance: Research in Options, held at Búzios - Rio de Janeiro, from November 28 to December 4, 2014 and presented the following work: Recent Developments on Functional Itô Calculus - Lie Bracket and Tanaka Formula.