Louiqa Raschid organizes an NSF Workshop on Next Generation Financial Cyberinfrastructure.

Jul 17, 2012

Louiqa Raschid is co-organizer of an NSF Workshop on the Blueprint for the Next Generation Financial Cyberinfrastructure.

The Great Recession of 2008 and the continuing reverberations in the Eurozone have highlighted
significant limitations in the ability of regulators and analysts/researchers to monitor and
model the national and global financial ecosystem. This includes the lack of financial
cyberinfrastructure to ingest and process numerous streams of financial transactions, as well as
the accompanying data streams of economic activity, in real time. Also absent are open standards
and shared semantics so that this data can be used to populate models of individual markets,
financial networks and the interconnected ecosystem representing the global financial system.
The most important challenge is the need to develop computational research frameworks, models
and methods, in the spirit of past efforts to identify computational grand challenges in a diversity
of data intensive domains including the biomedical sciences, health information management,
climate change, etc. The next generation of financial cyberinfrastructure must provide a platform
that can transform our current approaches to monitoring and regulating systemic risk.

Organized under the auspices of the University of Maryland's Center for Financial Policy,
the goal of this workshop (and related activities) is to work closely with federal regulatory
agencies, academic research communities in computer science, finance, economics and
other related disciplines, the financial industry and the computing industry.