Objective
HPCFinance, a 4-year multi-site Marie Curie Initial Training Network in modern quantitative methods and High-Performance Computing for Finance, provides solutions to managing financial risks by high-performance computing. HPCFinance will help improve the financial strength of banks, pension funds, insurance companies, other financial institutions and households in Europe. The main goal of the network is to enhance the career development of 12 early-stage researchers and 2 experienced ones in finance-related sectors.
Currently, while recovering from the financial crisis, the European financial world and academic researchers are facing major challenges to create and apply more reliable quantitative models and methods to manage risks. Simultaneously, computationally challenging new hybrid products combining traditional financial investments with insurance policies are gaining popularity. Consequently, demand for experts in finance with superior computing skills is growing rapidly.
HPCFinance consists of 7 universities and 8 companies, representing investment and insurance companies, banks, consultants, and high-performance computing solution providers. The network’s US partners provide invaluable experience for benchmarking and knowledge transfer into Europe. This world-class network provides training in robust financial models and numerical methods on high-performance computing platforms with emphasis on variable annuities and asset and liability management. The intended research is not only academically but also practically relevant as the program is built around real life challenges identified together by the academic and private sector partners. To bridge research and practice, all researchers contribute to the private sector via secondments. The major societal impacts of HPCFinance are to provide the European finance community with specialists with state-of-the-art skills in computational finance and to ease the adoption of reliable models in the industry.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: https://op.europa.eu/en/web/eu-vocabularies/euroscivoc.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: https://op.europa.eu/en/web/eu-vocabularies/euroscivoc.
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
FP7-PEOPLE-2011-ITN
See other projects for this call
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Coordinator
33720 Tampere
Finland
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.