Community Research and Development Information Service - CORDIS

Large scale information extraction and integration \ninfrastructure for supporting financial decision making

From 2010-10-01 to 2013-09-30, closed project | FIRST Website

Project details

Total cost:

EUR 4 594 661

EU contribution:

EUR 3 024 935

Coordinated in:

Spain

Call for proposal:

FP7-ICT-2009-5See other projects for this call

Funding scheme:

CP - Collaborative project (generic)

Description

How to focus on the relevant while making financial decisions in a world of information overkill? – Ask FIRST first

The FIRST project provides an information extraction, information integration and decision making infrastructure for information management in the financial domain. This area is extraordinarily faced with the challenges of extremely large, dynamic, and heterogeneous sources of information. The daily work and the business success of all decision makers in this industry depend on the availability of highly trustable, easily acquirable information.

Within the international financial industry not only individual market participants are negatively affected by information overflow and information asymmetries, but also financial flows and financial stability within entire industries of the global economy. This may also have severe consequences as has been observed in the current financial and economic crisis. Information is amongst the most valuable assets in the financial industry and reducing information asymmetries and increasing transparency by providing a fast, real-time, automatic and more comprehensive information base can help preventing false decisions.

Objective

The FIRST project provides a large-scale information extraction and integration infrastructure that supports non-ICT skilled end users for on-demand financial information access and execution of financial market analyses. Innovations in FIRST are: information extraction from unreliable semi-structured sources on a massive scale and in near real-time; automatic reuse of existing ontologies, large-scale ontology learning, and advanced decision models making use of semantic attributes.
The FIRST Decision Support Infrastructure enables end-users to configure, deploy, and execute financial decision models with associated information channels. The FIRST Ontology Infrastructure provides tools for semi-automatically creating and maintaining domain knowledge models. The FIRST Semantic Information Extraction System addresses noise, uncertainty, and semantic interpretation of information sources. The FIRST Information Integration Infrastructure consolidates information from very large heterogeneous information sources.
FIRST validates its innovations by three complementary use cases of market surveillance, investment management, and online retail banking and brokerage. The consortium comprises for each solution providers, data sources, and end users. FIRST implements a systematic strategy for scaling its methods and software infrastructure to the processing of massive amounts of information in real-time by three steps: (1) functional prototype, (2) scaling for non time-critical processing of massive historical data, and (3) scaling for massive live streams of structured feeds, textual news wire feeds, as well as semi-structured Web information in real-time.
The impact is ensured through an active open source strategy which (1) bases all basic software components in the fields of ontology learning, information extraction, information integration, and decision support on existing open source software and (2) releases FIRST software as open source software.

Coordinator contact

Tomás PARIENTE LOBO
Tel.: +34 912148336
Fax: +34 917543252
E-mail

Coordinator

ATOS SPAIN SA
Spain

EU contribution: EUR 646 149


CALLE DE ALBARRACIN 25
28037 MADRID
Spain
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Activity type: Private for-profit entities (excluding Higher or Secondary Education Establishments)
Administrative contact: Tomás Pariente
Tel.: +34 912148336
Fax: +34 912148844
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Participants

UNIVERSITAET HOHENHEIM
Germany

EU contribution: EUR 563 853


SCHLOSS HOHENHEIM
70599 STUTTGART
Germany
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Activity type: Higher or Secondary Education Establishments
Administrative contact: Hans-Peter Liebig
Tel.: +49 711 459 0
Fax: +49 711 459 24050
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JOHANN WOLFGANG GOETHE-UNIVERSITATFRANKFURT AM MAIN
Germany

EU contribution: EUR 182 200


THEODOR W ADORNO PLATZ 1
60323 FRANKFURT AM MAIN
Germany
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Activity type: Higher or Secondary Education Establishments
Administrative contact: Mareike Schmitt
Tel.: +49 69 798 25194
Fax: +49 69 798 25007
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BOERSE STUTTGART HOLDING GMBH
Germany

EU contribution: EUR 78 999


BOERSENSTRASSE
70174 STUTTGART
Germany
Activity type: Private for-profit entities (excluding Higher or Secondary Education Establishments)
Administrative contact: Ulli Spankowski
Tel.: +49 711222985752
Fax: +49 711222985661
E-mail

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Interactive Data Managed Solutions AG
Germany

EU contribution: EUR 105 600


Sandweg
60316 Frankfurt
Germany
Activity type: Private for-profit entities (excluding Higher or Secondary Education Establishments)
Administrative contact: Michael Diefenthaeler
Tel.: +49 69505030410
Fax: +49 69505030505
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GEORG-AUGUST-UNIVERSITAT GOTTINGENSTIFTUNG OFFENTLICHEN RECHTS
Germany

EU contribution: EUR 196 310


WILHELMSPLATZ 1
37073 GOTTINGEN
Germany
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Activity type: Higher or Secondary Education Establishments
Administrative contact: Nadja Daghbouche
Tel.: +49 551 399795
Fax: +49 551 39183058
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B-NEXT HOLDING AG
Germany

EU contribution: EUR 246 900


Hansastr.
32049 Herford
Germany
Activity type: Private for-profit entities (excluding Higher or Secondary Education Establishments)
Administrative contact: Markus Reinhardt
Tel.: +495221992800
Fax: +4952219928099
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BANCA MONTE DEI PASCHI DI SIENA SPA
Italy

EU contribution: EUR 284 587


PIAZZA SALIMBENI
53100 SIENA
Italy
Activity type: Private for-profit entities (excluding Higher or Secondary Education Establishments)
Administrative contact: Paolo Lombardi
Tel.: +39 0577 298388
Fax: +39 0577 294008
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INSTITUT JOZEF STEFAN
Slovenia

EU contribution: EUR 720 337


Jamova 39
1000 LJUBLJANA
Slovenia
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Activity type: Research Organisations
Administrative contact: Jadran Lenarcic
Tel.: +386 1 4773513
Fax: +386 1 2519385
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