May, 30 2010
Version 4.00 of the finance ontology
Until financing of the ontology development is provided, no more updates are planned.
More logging info
The finance ontology and the website pages
are licensed according
Creative Commons Attribution-Share alike 2.0 Belgium license
In a nutshell
Increase operational efficiency
Increase operational agility
knowledge about products and
1. Collection of product- and process knowledge
2. Setup of a knowledge management system
3. Monitor and interpret generated new knowledge
4. Maintain the knowledge models
by means of an owl-format ontology.
1. Setup of a knowledge base
2. Build the services
3. Build the interfaces: human and soft
by means of a triple- or quad store.
creative commons license
assistance with semantic
of the ontology
around the ontology and its implementation
of the ontology on specific areas
on ontologies and their usage
of co-operative ontology development
We use ontologies as the knowledge storage and management instruments of the finance domain.
RDF and OWL ontologies are read by men and machines.
This ontology is
a good starting point
for developments in
the finance industry.
The ontology is
Ontologies use the
technique to show
After opening the link
, right-click on the image in the iFrame and choose 'Save As' if you want a copy.
The taxonomy is too elaborated to be represented the same way.
Open taxonomy version 3.04
Open taxonomy version 4.00
a context scheme to situate the different contexts involved
Implementation of semantic applications requires a different methodology and technology in
business process analysis and description
is an overview of these differences.
during 30 years strong and weak points of service production and management.
the underlying causes for failure and success.
the criteria for an optimal solution.
Went on a
through alternative approaches.
semantic technologies as the solution.
them with enthusiasm because of the business case and real world use cases.
We have chosen
as integration partner.
The choice was not made overnight.
OpenLink brings the ontology to life. In other words, OpenLink's Virtuoso universal server transforms knowledge into applications in a high demanding environment.
The justifications for the choice are listed
The solutions which satisfy our criteria are found in the semantic web community.
It are the technologies which those hard working people apply to web information we re-use in a controlled data environment.
Some references to the community:
Protégé 3.4 (Stanford)
Protégé 4.0 (Manchester)
W3C wiki on semantic standards
Semantic web org wiki
W3C activities on semantic web
The degree of availability
Request an external knowledge audit.
In March 2008 by E-mail, in June 2008 by registered letter, we asked for proper action from international and national control authorities to avoid a financial disaster.
Unfortunately, end of September, the worse happened.
The finance ontology is a substantial element in
avoiding the same happening in the future
Breaking the conspiracy for ignorance
is a presentation held at several occasions.
It is the most comprehensive description of the reasons why our solution is needed.
Test it for yourself
Find out whether the solution is valid for your situation.
The need to model information is justified in a longer
Modelling of information can be done in many ways.
an overview and resource locations on different methods.
Have a look at our
Subjects of the posts are Finance, semantic technologies and application of semantic technologies in Finance.
The core application can be developed on a tested platform or on the platform of your choice.
A large community of developers is available to deliver customized front-end applications.
The choice of the means is related to balancing notably:
requested sophistication in the the application: applets versus single widget,
speed and performance in server communication: (lazy) load versus asynchronous communication,
appearance of the interface: basic or aesthetic
An example is
Securities handling is subject to lots of changes:
EU directive on pan-European investment funds
: the unified clearing and settlement system of the ECB for T2S securities
new SWIFT messages
A sample project plan is
us for a quotation on semantic technologies developments.
Choosing for a semantic data solution is a strategy with many impacts.
It revolutionizes the way operations are managed, performed and controlled, as well as the communication and reporting around these topics.
A listing of impacts is found in the frequently asked questions page
Utilities are mainly used today in browsing the ontology.
Many are instructive
on the nature of
require a manual to
interpret the results.
A selection of tools can is available
RDF/OWL information is :
represented as triples of subject, predicate, object. See
stored in specially designed databases called triple or quad stores or;
retrieved and handled by a dedicated language: SPARQL
The choice of the database requires balancing different parameters
like access speed, inference possibilities, reasoning engines to be
communication with the
user interface, ...
Read more on our tests
The reduction of operational risks is treated in the presentation "Breaking the conspiracy for ignorance" (see earlier).
This page is about how risks profiles are integrated in the ontology.
Read more here
Asserted and inferred knowledge
Information accessible by men and machines
The finance ontology supports, in the field of finance transactions and securities handling, the management, control of- and reporting over products, processes and procedures.
An ontology contains synonyms, a lexicon, concept descriptions, properties and inverse properties, relations,...
You'll find them through all the browsers.
On the need for a thesaurus please consult
While business rules were in the past often dictated by IT possibilities, the approach is inversed in knowledge modelling: without knowledge, no model and no application.
forces business units to take responsibility for the end-to-end processes;
allows a common understanding of the products and processes;
allows an effective real-time risk control: of the processes, of the products, of the positions
Justification from knowledge management perspective
Ontology development tools
Many tools are today available.
The choice involves balancing the capabilities in:
collaborative development possibilities
tools optimizing reasoning functions
automation of tasks
supported data sources
supported standards: RDF(S), OWL ?, SPARQL, ARQ, ... ?
To request more information, please use the form
Ensure product- and production knowledge through :
formal and unambiguous documentation of concepts, processes and procedures
derivation of knowledge through the description logics application and tools
proper tools to access the knowledge by men and machines
Ensure proper demonstration of the control of production and risks through:
comparison and replacement of the generic data by actual data for any financial institution: the building of a knowledge base;
detection of the conceptual failures by this exercise;
running coherence tests on production data;
Persons interested in finance
External auditors of financial institutions and institutional investors
Persons interested in ontologies and knowledge management
Persons in charge of securities handling
Persons in charge of quality control in securities handling
Business analysts in the field of securities handling
Internal auditors of financial institutions and institutional investors
IT persons working in securities handling environment
Information providers for securities data
on ontologies can be found via the links above.
They broaden the vision on our method and form the background of our generic solution.
A resource guide for philosophers
State university of New York - Department of Philosophy
Stanford encyclopedia of philosophy
Learn more about the terminology used with respect to ontologies
The documentation on ontologies is published in the form of JavaDocs, called OWLDoc for the circumstance.
Help in how to read the documentation is found
We offer consulting in the domain of finance.
Specific competence areas are:
domain knowledge acquisition, management and representation
process management in finance operations
IT project management (Prince 2 methodology)
Jump to blog category:
Financial crisis measures evaluation
Meaning of change