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The Barings Futures Trading Process

The Barings Futures Trading Process

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Figure 1. The sealed-bid task allocation auction.
Figure 2. A portion of the coordination mechanism taxonomy. 
Figure 3. A portion of the commitment type taxonomy. 
Figure 4. A portion of the exception type taxonomy. 
+2 Figure 5. A subset of the exception handler taxonomy. 
Designing Robust Business Processes
Article
Full-text available
  • Oct 2011
A critical challenge to creating effective business processes is making sure that they can operate effectively in environments where ‘exceptions ’ (i.e. process failures) can occur. This paper describes a novel knowledge-based methodology that addresses this challenge, building on an augmentation of the MIT Process Handbook that captures widely-app...
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... first task is to identify the key commitments in the Barings futures trading process. Figure 7 below depicts a simplified but accurate model of the process; boxes correspond to process activities, and lines correspond to dependencies between these activities: When a customer requests a futures trade, the trader asks the bank headquarters for an advance of funds in order to cover the customer's margin account. Once the funds have arrived, the trader performs the trade, waits to receive the corresponding security certificate and finally pays the exchange. ...

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... Since the selected coordination mechanism may introduce new dependencies and exceptions, they will in turn require additional coordination mechanisms and handlers. This decomposition can continue to any desired level of detail [11] [12] [13]. Through the development of the process itself (or process depiction and its dependent standard vocabulary database), such as process depiction manual [14], we can accomplish the depiction of the generic process and its standards and on this basis set up the sub-steps for the coordination mechanism [15] [16]. ...
Coordination-theoretic approach to modelling grid service composition process
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A grid service composite process is made up of com-plex coordinative activities. Developing the appropriate model of grid service coordinative activities is an important foundation for the grid service composition. According to the coordination theory, this paper elaborates the process of the grid service composition by using UML 2.0, and proposes an approach to modelling the grid service composition process based on the coordination the-ory. This approach helps not only to analyze accurately the task activities and relevant dependencies among task activities, but also to facilitate the adaptability of the grid service orchestration to further realize the connectivity, timeliness, appropriateness and expansibility of the grid service composition.
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