EMPLOYING SEMANTIC WEB TECHNOLOGIES IN FINANCIAL INSTRUMENTS TRADING

The lack of rapid approaches in ontology development led us to define Rapid Ontology Development (ROD) approach. The following approach includes the development process and constant evaluation of the steps in the process. The ROD approach was then applied to development of Financial Instruments and Trading Strategies (FITS) ontology. We pointed out that ontology development process does not conclude with successful definition of schematic part of ontology, but that developers should 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 can employ data from several data sources. The overall process of ontology development presented in this paper is suitable for users without extensive technical and programming skills.