Pure curiosity question as it is not my space --
By very chance, I came across a risk.net's article about the Risk Awards 2020 that went to Andrei Lyashenko and Fabio Mercurio for their work on a "new generalised forward market model (FMM) ... which allows forward values to be simulated from both forward-looking and backward-looking rates". What are you thoughts about it?
Thanks.
(apologies if the topic was already discussed in another thread. I couldn't find it)