Knowledge based exception handling in securities transactions

Wang, M., Wang, h., Wan, K. and Xu, D. (2004). Knowledge based exception handling in securities transactions. In: Proceedings of the 37th Hawaii International Conference on System Sciences - 2004. 37th Annual Hawaii International Conference on System Sciences (HICSS-37), Hawaii, U.S.A., (1-10). 5 - 8 January 2004. doi:10.1109/HICSS.2004.1265218


Author Wang, M.
Wang, h.
Wan, K.
Xu, D.
Title of paper Knowledge based exception handling in securities transactions
Conference name 37th Annual Hawaii International Conference on System Sciences (HICSS-37)
Conference location Hawaii, U.S.A.
Conference dates 5 - 8 January 2004
Proceedings title Proceedings of the 37th Hawaii International Conference on System Sciences - 2004
Place of Publication Los Alamitos, CA, U.S.A.
Publisher IEEE Computer Society
Publication Year 2004
Sub-type Fully published paper
DOI 10.1109/HICSS.2004.1265218
ISBN 0-7695-2056-1
Start page 1
End page 10
Total pages 10
Language eng
Abstract/Summary With 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 pro-activity 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.
Subjects 080605 Decision Support and Group Support Systems
1503 Business and Management
Q-Index Code E1

 
Versions
Version Filter Type
Citation counts: Google Scholar Search Google Scholar
Created: Wed, 08 Apr 2009, 13:22:48 EST by Paul Rollo on behalf of Faculty of Business, Economics & Law