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Conference Paper: Knowledge-based exception handling in securities transactions

TitleKnowledge-based exception handling in securities transactions
Authors
Issue Date2004
PublisherI E E E, Computer Society. The Journal's web site is located at http://csdl2.computer.org/persagen/DLPublication.jsp?pubtype=p&acronym=HICSS
Citation
Proceedings Of The Hawaii International Conference On System Sciences, 2004, v. 37, p. 1175-1184 How to Cite?
AbstractWith rising trading volumes and increasing risks in securities transactions, the securities industry is making an effort to achieve straight through processing to shorten the trade lifecycle and minimize transaction risk. While attempting to shorten the settlement cycle, the trade information must be passed within the trade lifecycle in a timely and accurate fashion. Exception handling is critical to make sure trades that give rise to exceptions or trades containing errors need to be detected and reconciled in compressed timescales. In order for a knowledge level solution for exception handling, the technology of intelligent agents is applied in this research. Intelligent agents with their knowledge base and properties of autonomy, activity and proactivity are well suited for business exception handling. Based on analysis on exceptions occurred in securities transactions and process of exception reconciliation, several types of intelligent agents are proposed and a multi-agent framework is presented for exception handling in securities trading. Furthermore, business knowledge such as business rules and strategies are extracted from securities trading and settlement practice, and applied to the design of individual agents to make them act autonomously and collaboratively to fulfil the goal of exception reconciliation. By separating business logic from business model, such business rules approach can enhance the flexibility and adaptability of our agent-based exception handling system.
Persistent Identifierhttp://hdl.handle.net/10722/176099
ISSN
References

 

DC FieldValueLanguage
dc.contributor.authorWang, Men_US
dc.contributor.authorWang, Hen_US
dc.contributor.authorWan, KKen_US
dc.contributor.authorXu, Den_US
dc.date.accessioned2012-11-26T09:05:58Z-
dc.date.available2012-11-26T09:05:58Z-
dc.date.issued2004en_US
dc.identifier.citationProceedings Of The Hawaii International Conference On System Sciences, 2004, v. 37, p. 1175-1184en_US
dc.identifier.issn1060-3425en_US
dc.identifier.urihttp://hdl.handle.net/10722/176099-
dc.description.abstractWith rising trading volumes and increasing risks in securities transactions, the securities industry is making an effort to achieve straight through processing to shorten the trade lifecycle and minimize transaction risk. While attempting to shorten the settlement cycle, the trade information must be passed within the trade lifecycle in a timely and accurate fashion. Exception handling is critical to make sure trades that give rise to exceptions or trades containing errors need to be detected and reconciled in compressed timescales. In order for a knowledge level solution for exception handling, the technology of intelligent agents is applied in this research. Intelligent agents with their knowledge base and properties of autonomy, activity and proactivity are well suited for business exception handling. Based on analysis on exceptions occurred in securities transactions and process of exception reconciliation, several types of intelligent agents are proposed and a multi-agent framework is presented for exception handling in securities trading. Furthermore, business knowledge such as business rules and strategies are extracted from securities trading and settlement practice, and applied to the design of individual agents to make them act autonomously and collaboratively to fulfil the goal of exception reconciliation. By separating business logic from business model, such business rules approach can enhance the flexibility and adaptability of our agent-based exception handling system.en_US
dc.languageengen_US
dc.publisherI E E E, Computer Society. The Journal's web site is located at http://csdl2.computer.org/persagen/DLPublication.jsp?pubtype=p&acronym=HICSSen_US
dc.relation.ispartofProceedings of the Hawaii International Conference on System Sciencesen_US
dc.titleKnowledge-based exception handling in securities transactionsen_US
dc.typeConference_Paperen_US
dc.identifier.emailWang, M: magwang@hku.hken_US
dc.identifier.authorityWang, M=rp00967en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.scopuseid_2-s2.0-12344338294en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-12344338294&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume37en_US
dc.identifier.spage1175en_US
dc.identifier.epage1184en_US
dc.publisher.placeUnited Statesen_US
dc.identifier.scopusauthoridWang, M=8723779700en_US
dc.identifier.scopusauthoridWang, H=7501731748en_US
dc.identifier.scopusauthoridWan, KK=7102748994en_US
dc.identifier.scopusauthoridXu, D=7404074069en_US

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