Keynote: Automated Trading - Making It Happen

J. Debenham (Australia)


Intelligent Agents. Agent-mediated electronic commerce. 1 Extended Abstract Business relationships, and the sense of trust that they em body, provides an environment in which trade may be con ducted with confidence. Trading involves the maintenance of effective relationships, and refers to the process of: need identification, partner selection, offer-exchange, contract negotiation, and contract execution. So we use the term in a sense that includes the business of e-procurement. Of partic


Fully automated trading, such as e-procurement, is virtu ally unheard of today. Trading involves the maintenance of effective business relationships, and is the complete pro cess of: need identification, product brokering, supplier brokering, offer-exchange, contract negotiation, and con tract 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, intelli gent 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.

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