Séminaire de probabilités XL

Two noteworthy features of the 40th volume of S?minaire de Probabilit?s are L. Coutin’s advanced course on calculus driven by fractional Brownian motion, and a series of seven interrelated works on local time-space calculus. Other topics from stochastic processes and stochastic finance include three contributions by A.S. Cherny on general approaches to arbitrage pricing.