Financial Industry Ontologies for Risk and Regulation Data (FIORD) - A Position Paper

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.