|CoMiFin-ICA Workshop 2011|
The Financial System comprises many entities that interact with each other to provide financial services that are the lifeline of the world economy. The financial business world entails a complex landscape of actors, including banks, regulatory agencies, financial service providers and the communication networks linking them. These actors and their interrelations are related to the area of financial intermediates and financial regulation that were formed to serve a viable world economy. The financial intermediates and the regulators serve as entities that should increase welfare in the economy through efficient capital allocation and risk sharing.
In order to satisfy the requirements of the financial ecosystem, there are a number of market-specific technical requirements for: responsiveness, data integrity, transparency, security and privacy. The financial market indeed stipulates its own specific needs and therefore software and service providers have, over time, implemented domain specific solutions to meet them.
Research in financial infrastructure (FI) falls is in the intersection of three areas: Finance/Economics, Information Systems and Distributed Computing. On one hand, Finance/Economics needs to define the roles of financial players and the nature of connectivity needed between them. Given that, Information Systems and Distributed Computing should relationships are best architected and implemented by technological infrastructure.
The first FinanceIT Conference coincides with the second CoMiFin International Collaboration Action (CoMiFin-ICA) workshop with a focus on Cyber Security. The goal of this meeting is to establish dialogue between the EU and US researchers working in the areas of collaborative protection of financial and other critical infrastructure against Internet-scale threats targeting their business and operational integrity. The workshop brings together representatives of the EU-sponsored CoMiFin consortium, researchers from Sandia Lab, and IBM Research as well as financial sector experts. The topics to be discussed include among others the new approaches to establishing trusted federations, collaborative security, scalable data sharing, and distributed event and stream processing as the means of early detection. The one day program will feature keynotes by event processing and security experts, presentations by the CoMiFin project and SANDIA Lab, a discussion panel, and an evening banquet.