Unleashing the Power of Public Data for Financial Risk Measurement, Regulation, and Governance

10 Pages Posted: 16 Nov 2015

See all articles by Mauricio Hernandez

Mauricio Hernandez

IBM Corporation

Sanjiv Ranjan Das

Santa Clara University - Leavey School of Business

Howard Ho

IBM Corporation

Georgia Koutrika

IBM Corporation

Rajasekar Krishnamurthy

IBM Corporation

Lucian Constantin Popa

Independent

Ioana Stanoi

IBM Corporation

Shivakumar Vaithyanathan

IBM Corporation

Date Written: April 30, 2010

Abstract

We present Midas, a system that uses complex data processing to extract and aggregate facts from a large collection of structured and unstructured documents into a set of unified, clean entities and relationships. Midas focuses on data for financial companies and is based on periodic filings with the U.S. Securities and Exchange Commission (SEC) and Federal Deposit Insurance Corporation (FDIC). We show that, by using data aggregated by Midas, we can provide valuable insights about financial institutions either at the whole system level or at the individual company level. To illustrate, we show how co-lending relationships that are extracted and aggregated from EC text filings can be used to construct a network of the major financial institutions. Centrality computations on this network enable us to identify critical hub banks for monitoring systemic risk. Financial analysts or regulators can further drill down into individual companies and visualize aggregated financial data as well as relationships with other companies or people (e.g., officers or directors). The key technology components that we implemented in Midas and that enable the above applications are: information extraction, entity resolution, mapping and fusion, all on top of a scalable infrastructure based on Hadoop.

Suggested Citation

Hernandez, Mauricio and Das, Sanjiv Ranjan and Ho, Howard and Koutrika, Georgia and Krishnamurthy, Rajasekar and Popa, Lucian Constantin and Stanoi, Ioana and Vaithyanathan, Shivakumar, Unleashing the Power of Public Data for Financial Risk Measurement, Regulation, and Governance (April 30, 2010). Available at SSRN: https://ssrn.com/abstract=1814232 or http://dx.doi.org/10.2139/ssrn.1814232

Mauricio Hernandez

IBM Corporation ( email )

IBM MACC Center
33 Maiden Lane
New York, NY 10038
United States

Sanjiv Ranjan Das (Contact Author)

Santa Clara University - Leavey School of Business ( email )

Department of Finance
316M Lucas Hall
Santa Clara, CA 95053
United States

HOME PAGE: http://algo.scu.edu/~sanjivdas/

Howard Ho

IBM Corporation ( email )

IBM MACC Center
33 Maiden Lane
New York, NY 10038
United States

Georgia Koutrika

IBM Corporation ( email )

IBM MACC Center
33 Maiden Lane
New York, NY 10038
United States

Rajasekar Krishnamurthy

IBM Corporation ( email )

IBM MACC Center
33 Maiden Lane
New York, NY 10038
United States

Lucian Constantin Popa

Independent ( email )

No Address Available

Ioana Stanoi

IBM Corporation ( email )

IBM MACC Center
33 Maiden Lane
New York, NY 10038
United States

Shivakumar Vaithyanathan

IBM Corporation ( email )

IBM MACC Center
33 Maiden Lane
New York, NY 10038
United States

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