Functional High Performance Financial IT: the HIPERFIT Research Center in Copenhagen

TY - GEN

T1 - Functional High Performance Financial IT

T2 - 12th International Symposium on Trends in Functional Programming

AU - Berthold, Jost

AU - Filinski, Andrzej

AU - Henglein, Fritz

AU - Larsen, Ken Friis

AU - Steffensen, Mogens

AU - Vinter, Brian

N1 - Conference code: 12

PY - 2012

Y1 - 2012

N2 - The world of finance faces the computational performance challenge of massively expanding data volumes, extreme response time requirements, and compute-intensive complex (risk) analyses. Simultaneously, new international regulatory rules require considerably more transparency and external auditability of financial institutions, including their software systems. To top it off, increased product variety and customisation necessitates shorter software development cycles and higher development productivity. In this paper, we report about HIPERFIT, a recently etablished strategic research center at the University of Copenhagen that attacks this triple challenge of increased performance, transparency and productivity in the financial sector by a novel integration of financial mathematics, domain-specific language technology, parallel functional programming, and emerging massively parallel hardware.HIPERFIT seeks to contribute to effective high-performance modelling by domain specialists, and to functional programming on highly parallel computer architectures in particular, by pursuing a research trajectory informed by the application domain of finance, but without limiting its research scope, generality, or applicablity, to finance. Research in HIPERFIT draws on and aims at producing new research in its different scientific fields, and it fosters synergies between them to deliver showcases of modern language technology and advanced functional methods with the potential for disruptive impact on an area of increasing societal importance.

AB - The world of finance faces the computational performance challenge of massively expanding data volumes, extreme response time requirements, and compute-intensive complex (risk) analyses. Simultaneously, new international regulatory rules require considerably more transparency and external auditability of financial institutions, including their software systems. To top it off, increased product variety and customisation necessitates shorter software development cycles and higher development productivity. In this paper, we report about HIPERFIT, a recently etablished strategic research center at the University of Copenhagen that attacks this triple challenge of increased performance, transparency and productivity in the financial sector by a novel integration of financial mathematics, domain-specific language technology, parallel functional programming, and emerging massively parallel hardware.HIPERFIT seeks to contribute to effective high-performance modelling by domain specialists, and to functional programming on highly parallel computer architectures in particular, by pursuing a research trajectory informed by the application domain of finance, but without limiting its research scope, generality, or applicablity, to finance. Research in HIPERFIT draws on and aims at producing new research in its different scientific fields, and it fosters synergies between them to deliver showcases of modern language technology and advanced functional methods with the potential for disruptive impact on an area of increasing societal importance.

U2 - 10.1007/978-3-642-32037-8_7

DO - 10.1007/978-3-642-32037-8_7

M3 - Article in proceedings

SN - 978-3-642-32036-1

T3 - Lecture notes in computer science

SP - 98

EP - 113

BT - Trends in Functional Programming

A2 - Peña, Ricardo

A2 - Page, Rex

PB - Springer

Y2 - 16 May 2011 through 18 May 2011

ER -