Rapid development of executable ontology for financial instruments and trading strategies

Abstract

In this paper we employ Rapid Ontology Development approach (ROD) with constant evaluation of steps in the process of ontology construction for development of Financial Instruments and Trading Strategies (FITS) ontology. We show that ontology development process does not conclude with successful definition of schematic part of ontology but we continue with post development activities where additional axiomatic information and instances with dynamic imports from various sources are defined. The result is executable ontology as part of Semantic Web application that uses data from several semi structured sources. The overall process of construction is suitable for users without extensive technical and programming skills and those users are rather experts in the problem domain. © 2011 Springer-Verlag.