Web Services for On-Demand Financial Investment Adviser Services

Financial investment services are becoming increasingly more demanding in Hong Kong since people realize that they would probably gain more profits by investing in stock and warrant markets rather than saving all their money in banks. A system that would help investors to make timely and correct investment decisions whenever they need it would be very desirable. This paper illustrates the design and development of a Web Services Based On-Demand Financial Investment System. In particular, the financial models underpinning our financial investment system, the service-oriented system architecture, and the implementation details of the prototype system are discussed. Based on the Binomial Model and the Black-Scholes Model, we are able to develop an effective option rating system. The prototype system is developed using Java Web Services Pack and it can be accessed via personal computers or Personal Digital Assistants (PDAs).