Online Brokerage: Transforming Markets from Professional to Retail Trading

In this paper, we discuss different concepts for transforming professional trading mechanisms for the increasing market of private investors. Different perspectives of this fundamental change in capital markets are discussed. The driver of these changes is IT: technological progress provides new ways for private investors to participate actively in the capital markets in order to take advantage – and risk – in the area, where traditionally only professionals could realize their chances. Starting from these observations, one of the most important success factors for Online-brokers is discussed, namely that of the integration of the various phases within the “market transaction process“. Some already existing concepts in this area – going along with new forms of intermediation – are evaluated on the basis of the requirements of the different groups mentioned above. Beyond that, the integration level within the market processes serves as a clear framework for further development of IT support of trading activities in Onlinebrokerage. The concept of an Internet based electronic trading system is presented as a promising way to transform professional trading activities to the needs of private investors in the future

Conceptualizing a Multi-Sided Platform for Cloud Computing Resource Trading

Cost-effective and responsible use of cloud computing resources (CCR) is on the business agenda of companies of all sizes. Despite this strategic goal, a typical data center produces an estimated 30% overcapacity annually. This overcapacity has severe economic and environmental consequences. Our work addresses this overcapacity by proposing a multi-sided platform for CCR trading. We initiate our research by conducting a literature review to explore the existing body of knowledge which indicates a lack of recent and evaluated platform design knowledge for CCR trading. We address this research gap by deriving and evaluating design requirements and design principles. We instantiate and evaluate the design knowledge in a respective platform framework. Thus, we contribute to research and practice by deriving and evaluating design knowledge and proposing an evaluated platform framework

Data Mesh: Motivational Factors, Challenges, and Best Practices

With the increasing importance of data and artificial intelligence, organizations strive to become more data-driven. However, current data architectures are not necessarily designed to keep up with the scale and scope of data and analytics use cases. In fact, existing architectures often fail to deliver the promised value associated with them. Data mesh is a socio-technical concept that includes architectural aspects to promote data democratization and enables organizations to become truly data-driven. As the concept of data mesh is still novel, it lacks empirical insights from the field. Specifically, an understanding of the motivational factors for introducing data mesh, the associated challenges, best practices, its business impact, and potential archetypes, is missing. To address this gap, we conduct 15 semi-structured interviews with industry experts. Our results show, among other insights, that industry experts have difficulties with the transition toward federated governance associated with the data mesh concept, the shift of responsibility for the development, provision, and maintenance of data products, and the concept of a data product model. In our work, we derive multiple best practices and suggest organizations embrace elements of data fabric, observe the data product usage, create quick wins in the early phases, and favor small dedicated teams that prioritize data products. While we acknowledge that organizations need to apply best practices according to their individual needs, we also deduct two archetypes that provide suggestions in more detail. Our findings synthesize insights from industry experts and provide researchers and professionals with guidelines for the successful adoption of data mesh

Memory Reduction via Delayed Simulation

We address a central (and classical) issue in the theory of infinite games: the reduction of the memory size that is needed to implement winning strategies in regular infinite games (i.e., controllers that ensure correct behavior against actions of the environment, when the specification is a regular omega-language). We propose an approach which attacks this problem before the construction of a strategy, by first reducing the game graph that is obtained from the specification. For the cases of specifications represented by "request-response"-requirements and general "fairness" conditions, we show that an exponential gain in the size of memory is possible.Comment: In Proceedings iWIGP 2011, arXiv:1102.374

Market engineering - towards an interdisciplinary approach [online]

The success of electronic markets does not only hinge upon scalable IT platforms combined with extensive marketing campaigns. Scientists and practitioners tend to agree that electronic markets have to be carefully designed, since even small failures in design decide on the overall success or failure of a marketplace. Unfortunately, traditional market design literature is often limited to the design of the trading rules. To solve practical challenges, the design of an adequate business model for the market operator and the design of individual IT platforms are also essential. The paper introduces a conceptual framework based on secondary literature research that attempts to integrate the various theory streams of market design. By applying the grounded theory method, a market engineering process is derived. With the concept of Computer Aided Market Engineering (CAME) the present paper provides the vision, to analyze and structure the problem domain and to guide market designers in their task supporting them with an integrated tool suite

Carsten Holtmann and Dirk Neumann Market and Firm – Two Sides of a Coin 1

Electronic markets are not just evolving they are designed. As such providing electronic trading venues is an entrepreneurial activity. The institutional approach followed here introduces a market operator as an economic player. As the entrepreneur charges fees for his service of operating an electronic market, the transaction cost savings incurred by information technology are essentially fully shifted to the market participants. As such the momentum predicted by the Electronic Market Hypothesis is limited in practice. The paper addresses this gap by deriving a conceptual framework, which reconciles the classical view on electronic markets with the entrepreneurial view.