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The financial clouds review

The financial clouds review

Chang, Victor, Li, Chung-Sheng, De Roure, David, Wills, Gary, Walters, Robert and Chee, Clinton (2011) The financial clouds review. International Journal of Cloud Applications and Computing, 1 (2). pp. 41-63. ISSN 2156-1834 (Print), 2156-1826 (Online) (doi:

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This paper demonstrates financial enterprise portability, which involves moving entire application services from desktops to clouds and between different clouds, and is transparent to users who can work as if on their familiar systems. To demonstrate portability, reviews for several financial models are studied, where Monte Carlo Methods (MCM) and Black Scholes Model (BSM) are chosen. A special technique in MCM, Least Square Methods, is used to reduce errors while performing accurate calculations. Simulations for MCM are performed on different types of Clouds. Benchmark and experimental results are presented for discussion. 3D Black Scholes are used to explain the impacts and added values for risk analysis. Implications for banking are also discussed, as well as ways to track risks in order to improve accuracy. A conceptual Cloud platform is used to explain the contributions in Financial Software as a Service (FSaaS) and the IBM Fined Grained
Security Framework. This study demonstrates portability, speed, accuracy, and reliability of applications in the
clouds, while demonstrating portability for FSaaS and the Cloud Computing Business Framework (CCBF).

Item Type: Article
Additional Information: [1] The International Journal of Cloud Applications and Computing (IJCAC) is an official publication of the Information Resources Management Association.
Uncontrolled Keywords: 3D Black Scholes, Black Scholes Model, Cloud Computing Business Framework, enterprise portability for clouds, financial clouds, Least Square Methods, MATLAB and Mathematica Applications on Clouds, Monte Carlo Methods (MCM), operational risk
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Faculty / School / Research Centre / Research Group: Faculty of Business > Department of Systems Management & Strategy
Faculty of Business
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Last Modified: 14 Oct 2016 09:16

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