Large-scale computational finance applications on the open grid service environment

In this paper we review the central concepts of the Open Grid Service Environment, which represents an abstract service stack and was introduced to design workflow-based problem solving environments. So far, it has been used to model large-scale computational finance problems as abstract workflows with meta-components and instantiate such workflows with different components based on semantic matching. In this paper we continue by presenting two further examples from the field of computational finance, which substantiate the need for Grid technologies and take a closer look at the implementational issues and apply the concepts of Enterprise Service Busses for parallel process orchestration. The CCA (Common Component Architecture) and its convergence to Web service specifications is the key technology for integrating heterogeneous components, with which one has to deal with in the financial sector.