Preface.- ToC.- An Interview with Ernst Eberlein.- Part I: Flexible Lévy-based models. Ernst August v. Hammerstein: Tail behaviour and tail dependence of generalized hyperbolic distributions.- Ole Barndorff-Nielsen: Gamma kernels and BSS/LSS processes.- Michael Mandjes and Peter Spreij: Explicit computations for some Markov modulated counting processes.- Part II: Statistics and risk.- Helyette Geman and Bo Liu: The outlook of energy markets in 2015: introducing distances between forward curves.- Dilip Madan: Three non-Gaussian models of dependence in returns.- Akitoshi Kimura and Nakahiro Yoshida: Estimation of correlation between latent processes.- Jan Beirlant, Wim Schoutens, Jan De Spiegeleer, Tom Reynkens, and Klaus Herrmann: Hunting for black swans in the European banking sector using extreme value analysis.- Eva Lütkebohmert-Holtz and Yajun Xiao: Collateralized borrowing and default risk.- Gerhard Stahl: Model uncertainty in a holistic perspective.- Part III: Derivative pricing, hedging, and optimization.- Christian Bayer and John Schoenmakers: Option pricing in affine generalized Merton models.- Giso Jahncke and Jan Kallsen: Approximate pricing of call options on the quadratic variation in Lévy models.- Ales Cerný: Dynamic discrete-time hedging of barrier options under leptokurtic returns driven by an exponential Lévy model.- Marek Musiela, Ekaterina Sokolova, and Thaleia Zariphopoulou: Exponential forward indifference prices in incomplete binomial models.- Mark Feodoria and Jan Kallsen: Almost surely optimal portfolios under propotional transaction costs.- Jose Manuel Corcuera, Jose Fajardo, and Olivier Pamen: On the optimal payoffs.- Ludger Rüschendorf and Viktor Wolf: Construction and hedging of optimal payoffs in Lévy Models.- Part IV: Term-structure modelling.- Irene Klein, Thorsten Schmidt, and Josef Teichmann: No arbitrage theory for bond markets.- Kathrin Glau, Zorana Grbac, and Antonis Papapantoleon: A unified view of LIBOR models.- Zorana Grbac, David Krief, and Peter Tankov: Approximate option pricing in the Lévy LIBOR model.- Fred Espen Benth: Cointegrated commodity markets and pricing of derivatives in a non-Gaussian framework.