Online risk analytics on the cloud

Hyunjoo Kim, Shivangi Chaudhari, Manish Parashar, Christopher Marty

Research output: Chapter in Book/Report/Conference proceedingConference contribution

26 Scopus citations

Abstract

In todays turbulent market conditions, the ability to generate accurate and timely risk measures has become critical to operating successfully, and necessary for survival. Value-at- Risk (VaR) is a market standard risk measure used by senior management and regulators to quantify the risk level of a firm's holdings. However, the time-critical nature and dynamic computational workloads of VaR applications, make it essential for computing infrastructures to handle bursts in computing and storage resources needs. This requires on-demand scalability, dynamic provisioning, and the integration of distributed resources. While emerging utility computing services and clouds have the potential for cost-effectively supporting such spikes in resource requirements, integrating clouds with computing platforms and data centers, as well as developing and managing applications to utilize the platform remains a challenge. In this paper, we focus on the dynamic resource requirements of online risk analytics applications and how they can be addressed by cloud environments. Specifically, we demonstrate how the CometCloud autonomic computing engine can support online multi-resolution VaR analytics using and integration of private and Internet cloud resources.

Original languageEnglish (US)
Title of host publication2009 9th IEEE/ACM International Symposium on Cluster Computing and the Grid, CCGRID 2009
Pages484-489
Number of pages6
DOIs
StatePublished - Oct 13 2009
Event2009 9th IEEE/ACM International Symposium on Cluster Computing and the Grid, CCGRID 2009 - Shanghai, China
Duration: May 18 2009May 21 2009

Publication series

Name2009 9th IEEE/ACM International Symposium on Cluster Computing and the Grid, CCGRID 2009

Other

Other2009 9th IEEE/ACM International Symposium on Cluster Computing and the Grid, CCGRID 2009
CountryChina
CityShanghai
Period5/18/095/21/09

All Science Journal Classification (ASJC) codes

  • Computer Science Applications
  • Software

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