API

Summary

In this short course we explore how some programming languages, data formats, database API’s and web frameworks handle hierarchical classes.

Content

Object-oriented programming and techniques (OOP) such as using classes and inheritance are common in many application programming environments but alas don’t “travel well” outside computer memory. The potentially intricate relationships of objects (both the data they hold and the meaning and possible uses of the data) are not easy to transfer (except of-course by full replication of code and data). Hence when considering data science tasks and objectives that involving exchange of data, the transition from object hierarchies that live inside memory, to data structures that can be exchanged with another computer is not straightforward.

The GSOC 2021 collaboration between Open Risk and the Hydra Ecosystem - Project Wrap-Up

Google Summer of Code 2021 came and went amid the still ongoing worldwide pandemic experience. Open Risk was happy to join forces with the Hydra Ecosystem in exploring a proof-of-concept for next generation API’s using Hydra.

The project aimed to guide students (here and here) to build a hypermedia enabled REST service that can serve standardized credit portfolio data. More specifically the project built a REST service as backend for a hypothetical banking entity that collects and disseminates credit portfolio data conforming to an established public standard (the EBA NPL templates) as those are encoded in a Semantic Web based OWL ontology.

A GSOC 2021 summer project collaboration between Open Risk and the Hydra Ecosystem

Summer is underway and for the Google Summer of Code 2021 season Open Risk is happy to join forces with the Hydra Ecosystem. The project aims to guide students to build a hypermedia enabled REST service around standardized credit portfolio data. More specifically the project will build a REST service as backend for a hypothetical banking entity that collects and disseminates credit portfolio data conforming to an established public standard (the EBA NPL templates, see below).

Celebrating Pi Day 2021

Pi Day is celebrated every year on March 14th. The reason of course is that the day is denoted in some calendars as (3/14), which evokes of 3.14, the first three digits of “π”. A thin excuse maybe but sufficient for the true believers to join along! The occasion represents an annual opportunity for mathematics and science enthusiasts to recite the infinite charms of Pi, including its irrationality, to talk to friends and family about math and its uses, and, when everything else fails, simply eat pie.

How much digital bank can we fit in a 50 euro bill?

Much has been said about the impact of Big Data and high-end GPU computing on the provision of digital financial services. At Open Risk we wanted to explore the boundary of what is possible at the diametrically opposite end of the cost spectrum:

What is the_absolutely minimum_cost for providing digital financial services? . In this post we begin the journey of finding out the answer to that question and it promises to be fascinating!

Presentation at TopQuants 2015: Open Risk API

Improved financial risk management through open data, open source and web technologies.

This is a Presentation given at the TopQuants/DNB Autumn Meeting, Amsterdam, Nov 18, 2015

Download

Download OpenRiskPR00

Source Code

• Open Risk API

Citation

@ARTICLE{OpenRiskPresentation00,
 author = {P. Papadopoulos},
 year = {2015},
 note = {\href{https://www.openriskmanagement.com/wp-content/uploads/2015/11/TopQuants2015.pdf}{Download URL}},
 title = {{Presentation at TopQuants 2015: Open Risk API}},
 journal = {Open Risk Presentations}
}

Seven Heavens of Finance and the Open Risk API

Back-to-basics is not salvation

It has become trendy since the financial crisis to be wearing an anti-complexity hat in matters concerning the shape of the financial system. This is an understandable reaction to the entangled constructions that had sprung to existence in the hyper-leveraged markets of the naughty noughts.

Yet shifting through the ruminations and proclamations one cannot help but get the impression that there is a sort of denial of the complexity that underlies the real economy. One gets the impression that people are harking back to a simplicity that does not exist. Since the financial system must at least support the actual economy, we would suggest that

Open Risk API

If you work in financial risk management you will most likely recognize where the following sentence is coming from:

One of the most significant lessons learned from the global financial crisis that began in 2007 was that banks information technology (IT) and data architectures were inadequate to support the broad management of financial risks. This had severe consequences to the banks themselves and to the stability of the financial system as a whole

Open Risk White Paper 3: Introducing the Open Risk API

We develop a proposal for an open source application programming interface (API) that allows for the distributed development, deployment and use of financial risk models. The proposal aims to explore the following key question: how to integrate in a robust and trustworthy manner diverse risk modeling and risk data resources, contributed by multiple authors, using different technologies, and which very likely will evolve over time.