Financial industry ontologies for risk and regulation data (FIORD) - A position paper

Justin McCarthy; Laurentiu Vasiliu; Allan D. Grody; Cal Muckley; Donald Lawrence; Fokion Zervoudakis; Said Tabet; Jeroen van Grondelle; Thanassis Bouras; Kiran Fernandes; Theodoros Krintas; Panos Xidonas; Kyriakos Chourdakis; Adamantios Koumpis

doi:10.1007/978-3-642-40543-3_77

Financial industry ontologies for risk and regulation data (FIORD) - A position paper

Justin McCarthy
, Laurentiu Vasiliu
, Allan D. Grody
, Cal Muckley
, Donald Lawrence
, Fokion Zervoudakis
, Said Tabet
, Jeroen van Grondelle
, Thanassis Bouras
, Kiran Fernandes
, Theodoros Krintas
, Panos Xidonas
, Kyriakos Chourdakis
, Adamantios Koumpis

School of Biochemistry and Cell Biology

Research output: Chapter in Book/Report/Conference proceedings › Conference proceeding › peer-review

Abstract

This paper presents a proposed approach to address risk and regulation management within the highly active and volatile financial domain by employing semantic based technologies within a collaborative networks environment. Firstly the problems and motivation are introduced, with accent on big data and high frequency trading issues that are creating major problems to the current software systems. Secondly the state of the art on Big Data, Regulation and Risk Management are presented. Next the FIORD platform architecture is detailed and the envisioned approach explained. Finally conclusions are presented where benefits for real time monitoring are emphasized so high frequency trading irregularities are detected in real time for the benefit of involved financial institutions.

Original language	English
Title of host publication	Collaborative Systems for Reindustrialization - 14th IFIP WG 5.5 Working Conference on Virtual Enterprises, PRO-VE 2013, Proceedings
Publisher	Springer New York LLC
Pages	737-744
Number of pages	8
ISBN (Print)	9783642405426
DOIs	https://doi.org/10.1007/978-3-642-40543-3_77
Publication status	Published - 2013
Event	14th IFIP WG 5.5 Working Conference on Virtual Enterprises, PRO-VE 2013 - Dresden, Germany Duration: 30 Sep 2013 → 2 Oct 2013

Publication series

Name	IFIP Advances in Information and Communication Technology
Volume	408
ISSN (Print)	1868-4238

Conference

Conference	14th IFIP WG 5.5 Working Conference on Virtual Enterprises, PRO-VE 2013
Country/Territory	Germany
City	Dresden
Period	30/09/13 → 2/10/13

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 10 Reduced Inequalities

Keywords

Big Data
Collaborative networks
Financial industry
High frequency trading
Ontologies
Reasoning
Regulation
Risk
Semantic web

Access to Document

10.1007/978-3-642-40543-3_77

Cite this

McCarthy, J., Vasiliu, L., Grody, A. D., Muckley, C., Lawrence, D., Zervoudakis, F., Tabet, S., van Grondelle, J., Bouras, T., Fernandes, K., Krintas, T., Xidonas, P., Chourdakis, K., & Koumpis, A. (2013). Financial industry ontologies for risk and regulation data (FIORD) - A position paper. In Collaborative Systems for Reindustrialization - 14th IFIP WG 5.5 Working Conference on Virtual Enterprises, PRO-VE 2013, Proceedings (pp. 737-744). (IFIP Advances in Information and Communication Technology; Vol. 408). Springer New York LLC. https://doi.org/10.1007/978-3-642-40543-3_77

McCarthy, Justin ; Vasiliu, Laurentiu ; Grody, Allan D. et al. / Financial industry ontologies for risk and regulation data (FIORD) - A position paper. Collaborative Systems for Reindustrialization - 14th IFIP WG 5.5 Working Conference on Virtual Enterprises, PRO-VE 2013, Proceedings. Springer New York LLC, 2013. pp. 737-744 (IFIP Advances in Information and Communication Technology).

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title = "Financial industry ontologies for risk and regulation data (FIORD) - A position paper",

abstract = "This paper presents a proposed approach to address risk and regulation management within the highly active and volatile financial domain by employing semantic based technologies within a collaborative networks environment. Firstly the problems and motivation are introduced, with accent on big data and high frequency trading issues that are creating major problems to the current software systems. Secondly the state of the art on Big Data, Regulation and Risk Management are presented. Next the FIORD platform architecture is detailed and the envisioned approach explained. Finally conclusions are presented where benefits for real time monitoring are emphasized so high frequency trading irregularities are detected in real time for the benefit of involved financial institutions.",

keywords = "Big Data, Collaborative networks, Financial industry, High frequency trading, Ontologies, Reasoning, Regulation, Risk, Semantic web",

author = "Justin McCarthy and Laurentiu Vasiliu and Grody, \{Allan D.\} and Cal Muckley and Donald Lawrence and Fokion Zervoudakis and Said Tabet and \{van Grondelle\}, Jeroen and Thanassis Bouras and Kiran Fernandes and Theodoros Krintas and Panos Xidonas and Kyriakos Chourdakis and Adamantios Koumpis",

year = "2013",

doi = "10.1007/978-3-642-40543-3\_77",

language = "English",

isbn = "9783642405426",

series = "IFIP Advances in Information and Communication Technology",

publisher = "Springer New York LLC",

pages = "737--744",

booktitle = "Collaborative Systems for Reindustrialization - 14th IFIP WG 5.5 Working Conference on Virtual Enterprises, PRO-VE 2013, Proceedings",

note = "14th IFIP WG 5.5 Working Conference on Virtual Enterprises, PRO-VE 2013 ; Conference date: 30-09-2013 Through 02-10-2013",

}

McCarthy, J, Vasiliu, L, Grody, AD, Muckley, C, Lawrence, D, Zervoudakis, F, Tabet, S, van Grondelle, J, Bouras, T, Fernandes, K, Krintas, T, Xidonas, P, Chourdakis, K & Koumpis, A 2013, Financial industry ontologies for risk and regulation data (FIORD) - A position paper. in Collaborative Systems for Reindustrialization - 14th IFIP WG 5.5 Working Conference on Virtual Enterprises, PRO-VE 2013, Proceedings. IFIP Advances in Information and Communication Technology, vol. 408, Springer New York LLC, pp. 737-744, 14th IFIP WG 5.5 Working Conference on Virtual Enterprises, PRO-VE 2013, Dresden, Germany, 30/09/13. https://doi.org/10.1007/978-3-642-40543-3_77

Financial industry ontologies for risk and regulation data (FIORD) - A position paper. / McCarthy, Justin; Vasiliu, Laurentiu; Grody, Allan D. et al.
Collaborative Systems for Reindustrialization - 14th IFIP WG 5.5 Working Conference on Virtual Enterprises, PRO-VE 2013, Proceedings. Springer New York LLC, 2013. p. 737-744 (IFIP Advances in Information and Communication Technology; Vol. 408).

Research output: Chapter in Book/Report/Conference proceedings › Conference proceeding › peer-review

TY - GEN

T1 - Financial industry ontologies for risk and regulation data (FIORD) - A position paper

AU - McCarthy, Justin

AU - Vasiliu, Laurentiu

AU - Grody, Allan D.

AU - Muckley, Cal

AU - Lawrence, Donald

AU - Zervoudakis, Fokion

AU - Tabet, Said

AU - van Grondelle, Jeroen

AU - Bouras, Thanassis

AU - Fernandes, Kiran

AU - Krintas, Theodoros

AU - Xidonas, Panos

AU - Chourdakis, Kyriakos

AU - Koumpis, Adamantios

PY - 2013

Y1 - 2013

N2 - This paper presents a proposed approach to address risk and regulation management within the highly active and volatile financial domain by employing semantic based technologies within a collaborative networks environment. Firstly the problems and motivation are introduced, with accent on big data and high frequency trading issues that are creating major problems to the current software systems. Secondly the state of the art on Big Data, Regulation and Risk Management are presented. Next the FIORD platform architecture is detailed and the envisioned approach explained. Finally conclusions are presented where benefits for real time monitoring are emphasized so high frequency trading irregularities are detected in real time for the benefit of involved financial institutions.

AB - This paper presents a proposed approach to address risk and regulation management within the highly active and volatile financial domain by employing semantic based technologies within a collaborative networks environment. Firstly the problems and motivation are introduced, with accent on big data and high frequency trading issues that are creating major problems to the current software systems. Secondly the state of the art on Big Data, Regulation and Risk Management are presented. Next the FIORD platform architecture is detailed and the envisioned approach explained. Finally conclusions are presented where benefits for real time monitoring are emphasized so high frequency trading irregularities are detected in real time for the benefit of involved financial institutions.

KW - Big Data

KW - Collaborative networks

KW - Financial industry

KW - High frequency trading

KW - Ontologies

KW - Reasoning

KW - Regulation

KW - Risk

KW - Semantic web

UR - https://www.scopus.com/pages/publications/84897795822

U2 - 10.1007/978-3-642-40543-3_77

DO - 10.1007/978-3-642-40543-3_77

M3 - Conference proceeding

AN - SCOPUS:84897795822

SN - 9783642405426

T3 - IFIP Advances in Information and Communication Technology

SP - 737

EP - 744

BT - Collaborative Systems for Reindustrialization - 14th IFIP WG 5.5 Working Conference on Virtual Enterprises, PRO-VE 2013, Proceedings

PB - Springer New York LLC

T2 - 14th IFIP WG 5.5 Working Conference on Virtual Enterprises, PRO-VE 2013

Y2 - 30 September 2013 through 2 October 2013

ER -

McCarthy J, Vasiliu L, Grody AD, Muckley C, Lawrence D, Zervoudakis F et al. Financial industry ontologies for risk and regulation data (FIORD) - A position paper. In Collaborative Systems for Reindustrialization - 14th IFIP WG 5.5 Working Conference on Virtual Enterprises, PRO-VE 2013, Proceedings. Springer New York LLC. 2013. p. 737-744. (IFIP Advances in Information and Communication Technology). doi: 10.1007/978-3-642-40543-3_77

Financial industry ontologies for risk and regulation data (FIORD) - A position paper

Abstract

Publication series

Conference

UN SDGs

Keywords

Access to Document

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