Quality of Service for Financial Modeling and Prediction as a Service

Victor Chang, Muthu Ramachandran

Abstract

This paper describes our proposal for Quality of Service (QoS) for Financial Modeling and Prediction as a Service (FMPaaS), since a majority of papers does not focus on SaaS level. We focus on two factors for delivering successful QoS, which are performance and accuracy for FMPaaS. The design process, theories and models behind the FMPaaS service have been explained. To support our FMPaaS service, two APIs have been developed to improve on performance and accuracy. Two major experiments have been illustrated and results show that each API processing can be completed in 2.12 seconds and 100,000 simulations can be completed in an acceptable period of time. Accuracy tests have been performed while using Facebook as an example. Three points of comparisons between actual and predicted prices have been undertaken. Results support accuracy since results are between 93.72% and 99.63%.

References

  1. Accenture, 2011, Accenture Financial Trends slides, http://www.slideshare.net/fullscreen/ramblingman/acc enture-financial-saa-s-external-presentation-final/3, accessed on April 2014.
  2. Albodour, R., James, A., N. Yaacob, 2012, High level QoS-driven model for grid applications in a simulated environment. Future Generation Computer Systems, 28(7), 1133-1144.
  3. Albrecher, H., Mayer, P., Schoutens, W., and Tistaert, J., 2006, The Little Heston Trap, Technical paper, September.
  4. Cantor, M. and Royce, W., 2014, Economic Governance of Software Delivery, IEEE Software, 31(1).
  5. Chang, V., 2014. The business intelligence as a service in the cloud. Future Generation Computer Systems, 37, 512-534.
  6. Cox, J.C., Ingersoll J.E. & Ross, S.A. 1985, A Theory of the Term Structure of Interest Rates, Econometrica 53: 385-408.
  7. Durrett, R., 2000, Probability: theory and examples, 4th edition. Cambridge University Press, ISBN 0-521- 76539-0.
  8. Guillaume F., and Schoutens, W., 2012, Calibration risk: Illustrating the impact of calibration risk under the Heston model, Review of Derivatives Research, 15:57-79.
  9. Hull, J., and White, A., 1987, The Pricing of Options on Assets with Stochastic Volatilities, The Journal of Finance, 42(2).
  10. Lee, J. Y., Lee, J. W., Cheun D. W. & Kim S. D., 2009, QoS A Quality Model for Evaluating Software-as-aService in Cloud Computing, the Seventh ACIS International Conference on Software Engineering Research, Management and Applications.
  11. Kloeden, P.E, Platen, E., 1999, Numerical Solution of Stochastic Differential Equations. Berlin: Springer. ISBN 3-540-54062-8.
  12. Mukhopadhyay, D., Chathly, F. J., Jadhav, N. N., 2012, QoS Based Framework for Effective Web Services in Cloud Computing, Journal of Software Engineering and Applications, 5, 952-960.
  13. NetSuite, 2014, white paper and software, product http://www.netsuite.co.uk/portal/uk/seo-landingpage/accounting-2/main.shtml?gclid=CLK9k5q37sCFTHLtAodikoAzw, accessed on April.
  14. Open Group, OSIMM, 2009, from https:// www2.opengroup.org/ogsys/jsp/publications/Publicati onDetails.jsp?publicationid=12450, Retrieved Oct 2013.
  15. Ramachandran, M., Chang, V., 2014 Cloud Security proposed and demonstrated by Cloud Computing Adoption Framework, the first international workshop on Emerging Software as a Service and Analytics, Barcelona, Spain, 03 - 05 April.
  16. Schulze, B., Coulson, G., Nandkumar, R., Henderson, R., 2006, Special Issue: Middleware for Grid Computing: A 'possible future', Concurrency and computation: practice and experience, 10.1002/cpe.1132, Wiley.
  17. Shehu, U., Epiphaniou, G., Safdar, G. A., 2014, A Survey of QoS-aware Web Service Composition Techniques, International Journal of Computer Applications (0975 - 8887), 89(2), March.
  18. Silvestri, F. et al., 2006, Toward a search architecture for software components, Journal of Concurrency and Computation: Practice and Experience: 18:1317- 1331.
  19. Wilmott, P., 2006, Paul Wilmott on quantitative finance, Wiley (2nd ed.), ISBN 0470018704.
Download


Paper Citation


in Harvard Style

Chang V. and Ramachandran M. (2015). Quality of Service for Financial Modeling and Prediction as a Service . In Proceedings of the 2nd International Workshop on Emerging Software as a Service and Analytics - Volume 1: ESaaSA, (CLOSER 2015) ISBN 978-989-758-110-6, pages 5-15. DOI: 10.5220/0005502300050015


in Bibtex Style

@conference{esaasa15,
author={Victor Chang and Muthu Ramachandran},
title={Quality of Service for Financial Modeling and Prediction as a Service},
booktitle={Proceedings of the 2nd International Workshop on Emerging Software as a Service and Analytics - Volume 1: ESaaSA, (CLOSER 2015)},
year={2015},
pages={5-15},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0005502300050015},
isbn={978-989-758-110-6},
}


in EndNote Style

TY - CONF
JO - Proceedings of the 2nd International Workshop on Emerging Software as a Service and Analytics - Volume 1: ESaaSA, (CLOSER 2015)
TI - Quality of Service for Financial Modeling and Prediction as a Service
SN - 978-989-758-110-6
AU - Chang V.
AU - Ramachandran M.
PY - 2015
SP - 5
EP - 15
DO - 10.5220/0005502300050015