Abstract: A method, media and system are directed to allocating a market risk for a trading participant. A computer-readable financial instrument is established based on a tradable commodity that is subject to an external risk or based on an event trigger for an anticipated environmental event that may cause harm to a geographic region; a health care risk for a geographic region, or a risk of enactment of a public policy that causes an economic impact to a geographic region. The instrument is traded between trading participants and a margin requirement for an account of at least one of the trading participants is determined based on an risk score for the instrument. Periodically, a change in the risk score is determined and the margin requirement is adjusted based on the change in the risk score.