Apparatus (method implemented with a machine, the machine, and the method for making the machine, and products produced thereby) for controlling a system of managing cash flows for a transaction, the apparatus including: data processing means arranged for receiving information into memory, said information including respective descriptions of risks, statistical assumptions for said risks, and financial assumptions for said risks, the data processing means further including: calculating means, responsive to said descriptions and said assumptions, for calculating expected cash flows corresponding to said risks for time periods; accounting means for determining, responsive to actual cash flow information from occurrence of events corresponding to said risks, for a first party to the transaction owing the expected cash flows to a second party to the transaction, and for determining, for the second party owing the actual cash flows to the first party, a net settlement, for each of said time periods, between the parties in the transaction, to manage the actual cash flows and the expected cash flows.