Automated trading: making it happen

  • Authors:
  • John Debenham

  • Affiliations:
  • Faculty of IT, University of Technology, Sydney, Sydney, NSW, Australia

  • Venue:
  • AIA'06 Proceedings of the 24th IASTED international conference on Artificial intelligence and applications
  • Year:
  • 2006

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Abstract

Fully automated trading, such as e-procurement, is virtually unheard of today. Trading involves the maintenance of effective business relationships, and is the complete process of: need identification, product brokering, supplier brokering, offer-exchange, contract negotiation, and contract execution. Three core technologies are needed to fully automate the trading process. First, real-time data mining technology to tap information flows and to deliver timely information at the right granularity. Second, intelligent agents that are designed to operate in tandem with the real-time information flows from the data mining systems. Third, virtual institutions in which informed trading agents can trade securely both with each other and with human agents in a natural way. This discussion focusses on the second technology - the design of "information driven" trading agents.