Proceedings First International Conference on Artificial Intelligence Applications on Wall Street

9-11 Oct. 1991

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  • Proceedings. The First International Conference on Artificial Intelligence on Wall Street (Cat. No.91TH0399-6)

    Publication Year: 1991
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    Freely Available from IEEE
  • Integrating neural networks and expert systems for merger and acquisition analysis

    Publication Year: 1991, Page(s):200 - 205
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (460 KB)

    Certain business applications contain knowledge where some rules are known explicitly and other rules are known implicitly by examples. For such applications, expert system technology can be used for the explicit rules and neural network technology can be used for the implicit rules. This paper presents a knowledge engineering methodology which integrates expert system technology, neural network t... View full abstract»

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  • Achieving excellence in the global marketplace using knowledge-based simulation

    Publication Year: 1991, Page(s):103 - 108
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (412 KB)

    The continuous improvement of global real-time processes is an essential element in establishing and maintaining a world class operation. Process re-engineering efforts are undertaken to redesign and implement process improvements for white-collar processes from a business process and information technology perspective, but are often biased and short-sighted in their analyses and recommendations. ... View full abstract»

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  • Distributed systems management on Wall Street-AI technology needs

    Publication Year: 1991, Page(s):206 - 212
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (444 KB)

    Several Wall Street firms have introduced distributed Unix technology to address their business needs. Essential to the success of this technology is the ability to: offer high system availability; insure high service quality; and promptly notify customers impacted by a system failure. Systems management encompasses monitoring of system components to prevent/detect service disruptions and requires... View full abstract»

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  • Building a banking system specification using machine learning

    Publication Year: 1991, Page(s):263 - 268
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (380 KB)

    Transforming user requirements into software specification is a complex and demanding task. Artificial intelligence methods such as machine learning (ML) can assist in the software specification process by providing support to system designers. This paper presents an approach based on explanation-based learning (EBL), a ML technique in which a concept is learned by building an explanation. The app... View full abstract»

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  • Guidelines: a production rule based implementation of mortgage insurance underwriting policy

    Publication Year: 1991, Page(s):174 - 177
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (296 KB)

    Guidelines, a business critical COBOL program used to disseminate underwriting policy on a nationwide basis, has been re-engineered using rule based expert system technology in a short period of time. One of the key goals of the project was to enable direct participation by non systems professionals in the maintenance of the guideline rules. Thus it was necessary that the rules be simple. Several ... View full abstract»

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  • AI solutions in support of global trading

    Publication Year: 1991, Page(s):109 - 113
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (436 KB)

    SWIFT runs a global financial network in support of financial transactions. To increase the level of efficiency and service, the use of AI techniques have made a significant impact on SWIFT operations. It is perhaps the only example to date where AI techniques have had an important impact on a company's core business function. The author describes the application environment, surveys research and ... View full abstract»

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  • An intelligent trend prediction and reversal recognition system using dual-module neural networks

    Publication Year: 1991, Page(s):42 - 51
    Cited by:  Papers (1)  |  Patents (1)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (648 KB)

    Short-term trends of price movement for common stocks traded on the Taiwan stock market have been modelled and predicted using the dual-module neural networks (dual net) proposed. Both neural network modules of the dual net learn the correlations between the trends of price movement and the retrospective technical indices. An adaptive reversal recognition mechanism which can self-tune the threshol... View full abstract»

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  • The strategic significance of expert systems

    Publication Year: 1991, Page(s):214 - 219
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (376 KB)

    Expert or knowledge-based systems are being deployed in virtually every industry because of their power to bring strategic competitive advantage to the firms who successfully employ them. The strategic significance of expert systems lies in their ability to improve the effectiveness and efficiency of the decision-making process and, in the long run, improved decision-making leads to growth and inc... View full abstract»

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  • Patenting financial software

    Publication Year: 1991, Page(s):269, 324 - 325
    Cited by:  Patents (3)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (208 KB)

    This paper presents some of the issues surrounding patentability of financial software. Two representative patents, one assigned to Merrill Lynch and the other to College Savings Bank, reveal what has already been patented in the area of financial services. Merrill Lynch's patent formulates the Cash management Account (CMA) and shows its software implementation in the form of a high-level flowchar... View full abstract»

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  • Model-based financial data interpretation

    Publication Year: 1991, Page(s):178 - 186
    Cited by:  Papers (2)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (576 KB)

    Analyzing the recent financial history of a firm is an important step in the annual audit cycle and in many other financial reasoning tasks. Auditors and other analysts performing this task have available to them a variety of mathematical models to fit to a set of historical and current period financial statement data. They also have expectations about the likelihood and magnitudes of errors in th... View full abstract»

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  • The application of knowledge-based systems to brand evaluation

    Publication Year: 1991, Page(s):246 - 250
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (280 KB)

    BRAND EVALUATOR is a prototype expert system which has been designed to assist brand specialists in evaluating the worth of branded products. The paper describes the process of knowledge acquisition and elicitation and the design, development and validation of BRAND EVALUATOR. It examines the problems encountered, system limitations and achievements of the project. BRAND Evaluator is implemented a... View full abstract»

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  • Case-based reasoning for market surveillance

    Publication Year: 1991, Page(s):116 - 121
    Cited by:  Patents (4)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (372 KB)

    Stock market surveillance is an enormously difficult task. Exchange surveillance departments must sift through data on thousands of transactions each day, pick out suspicious price movements, investigate the transactions, and determine if action is necessary. Knowledge-based systems have been applied in this domain with mixed results, primarily due to a lack of clear-cut criteria for identifying a... View full abstract»

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  • Exploiting hypertext valuation links for business decision making: a portfolio management illustration

    Publication Year: 1991, Page(s):312 - 318
    Cited by:  Papers (2)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (536 KB)

    This paper discusses the application of hypertext valuation links to decision support for business problems. Valuation links enable one to relate hypertext link traversal to computation in a way that affects the contents of a hypertext node while retaining the `browsing metaphor' of hypertext. This helps to support quantitative or qualitative reasoning about business problems when described in ter... View full abstract»

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  • The collateral perfection analysis and recommendation knowledgebases-CPARK

    Publication Year: 1991, Page(s):132 - 134
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (248 KB)

    In any large corporation the number of policy manuals, regulatory guides and product documents is often overwhelming. To find a quick answer to a question, be it simple or complex, is rarely easy. There is just too much information. Turning information into knowledge is a major corporate challenge moving into the 1990s. Manufacturers Hanover's (MH), internal audit department, charged with responsi... View full abstract»

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  • Neural networks and the mathematics of chaos-an investigation of these methodologies as accurate predictors of corporate bankruptcy

    Publication Year: 1991, Page(s):52 - 57
    Cited by:  Patents (1)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (380 KB)

    Research is given which investigates the use of neural networks as a classification tool to predict corporate bankruptcy. It also examines if a branch of chaos theory could be used as a forecasting tool. It compares neural networks with an alternative corporate bankruptcy prediction model Altman's Z-score model (1977) on a small data sample and illustrates that neural networks can yield superior r... View full abstract»

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  • From technology push to market pull: expert systems in the front office

    Publication Year: 1991, Page(s):220 - 225
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (332 KB)

    Takes a pragmatic view as to why expert systems have not been the success they were anticipated to be in the trading rooms. The author invites expert systems developers to take a more realistic view of what users are demanding and encourages them to let go of their own aspirations for the technology. The key to success is routine and sometimes dull applications that help solve real business proble... View full abstract»

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  • Adding value to financial news by computer

    Publication Year: 1991, Page(s):2 - 8
    Cited by:  Papers (1)  |  Patents (2)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (492 KB)

    Recent advances in software permit applications where computers can intelligently process text based on its content. Since so much financial information is available first (and sometimes only) in textual form, these developments have great significant for Wall Street. The authors describe a deployed application that enhances access to financial news stories by categorizing them (as corporate acqui... View full abstract»

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  • A computational mode of bond rating

    Publication Year: 1991, Page(s):272 - 277
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (308 KB)

    This paper is concerned with constructing a computational model in the domain of broad rating and implementing the model as an expert system. A bond rating is an assessment of the relative level of risk associated with the timely payments required by the obligation. The primary interest in this paper is in modeling and implementing the qualitative judgment required in bond rating rather than the r... View full abstract»

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  • MASTER: a case based-design to augment corporate mergers and acquisitions decisions

    Publication Year: 1991, Page(s):188 - 193
    Cited by:  Patents (1)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (484 KB)

    The work on AI financial services applications has now moved into the second-generation of expert systems. This paper briefly reviews some general development and discusses a hybrid design called MASTER. MASTER provides decision aid for M&A professionals. The hybrid employs a cooperating mix of rules and case-based reasoning to provide advice on prospective mergers. The MASTER knowledge base u... View full abstract»

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  • Marketing and artificial intelligence: with neural net market segmentation example

    Publication Year: 1991, Page(s):251 - 256
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (484 KB)

    While the domain of marketing has developed many hypothesizes and theories much of it is still heuristic based. both in research and practice, marketers must deal with problems in the data, partially proven hypotheses, etc. which results in such uncertainty that extensive experience and understanding of both research literature and proven practices is necessary to successfully operate in this fiel... View full abstract»

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  • Using neural nets to predict several sequential and subsequent future values from time series data

    Publication Year: 1991, Page(s):30 - 34
    Cited by:  Patents (1)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (404 KB)

    Analysing time series data in order to recognize patterns or make predictions about future values is important in many application areas, for example, failure prediction in nuclear power plants and machinery, the stock market, inventory control, marketing sales forecasts, bankruptcy prediction, forest fire predictions, etc. Solutions to many of these problems exist in nonlinear mathematics, which ... View full abstract»

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  • SEPT: a hybrid intelligent support system for the bank treasury dealing room

    Publication Year: 1991, Page(s):122 - 127
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (360 KB)

    The treasurers of Italian commercial banks manage liquidity mainly by short-term interbank operations in lira. After the introduction of a telematic domestic money market, such operations cannot be planned effectively without computer support. The planning of liquidity flows and the exploitation of arbitrage opportunities cannot be done by sheer calculations since future trends can be predicted on... View full abstract»

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  • Using news understanding and neural networks in foreign currency options trading

    Publication Year: 1991, Page(s):319 - 323
    Cited by:  Papers (1)  |  Patents (1)
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (308 KB)

    This paper explores the use of news understanding as a means to augment neural network based technical analysis with up to the minute market psychology forecasts to make automatic trade decisions. The work is based upon simulation of performance for foreign currency option trades. It provides the result of a simulation that shows the potential performance in terms of profitability. The data used i... View full abstract»

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  • Program traffic locator-a knowledge based expert system

    Publication Year: 1991, Page(s):135 - 138
    Request permission for commercial reuse | Click to expandAbstract | PDF file iconPDF (228 KB)

    A program basket contains a specified set of stocks in a certain proportion. It is a difficult problem to recognize a program basket when the orders comprising the basket are interspersed with the large number of individual retail orders arriving at the stock exchange. A knowledge based expert system was designed to identify and `learn' the basket properties so that it can be used to identify bask... View full abstract»

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