Quaternion Risk Management Ltd is a specialist capital markets software and consulting practice with deep sector specialization in quantitative risk management services, the provision of expertise and the delivery of complex projects in the trading, risk, and finance functions. Quaternion Risk Management asked the Capstone team to run concrete examples of collateralized exposure calculations in ORE (an open source software developed by QRM). ORE is unique as it places the power to measure and address systemic risk in the hands of all users—not only regulators—to prevent the kinds of practices of loose oversight that lead to the crisis of 2008. The objective was to investigate the effect of new financial regulation (Initial Margin) on systemic risk in the financial system.