The Trust on the Web track at the WWW2004 Developers Day will bring demonstrations and presentations of new work in the area of trust on the web to a wide community of users. Topics addressed span the space of web interests and applications.
Yolanda Gil, Donovan Artz
University of Southern California and ISI
TRELLIS
Abstract: We show application scenario prototypes that use semantic web rules (primarily RuleML) to represent and enforce trust policies in financial services. Examples where such rule-based trust policies are suitable include regulatory compliance in financial markets trading, brokerage account access, merchant credit card verification, and back-office check clearing, and XACML access control policies. Our new application scenarios involve rulebases implemented using previously existing tools for RuleML, including SweetRules and IBM CommonRules. Implementations could also use other rule systems of course, e.g., Jess, CLIPS, or Prolog. We discuss more generally how semantic web rules are a good match to the requirements of many kinds of authorization policy applications, in and out of financial services. Semantic web rules are also useful to integrate financial reporting information across multiple ontological contexts.
A rule-based declarative approach to policy representation and management allows portfolio managers, compliance officers, traders and other business users to focus on specific functionality as the system is capable of detecting real-time and pre-trade guideline breaches and regulatory policy violations. Trust policies and enforcement involve multiple organizational/socio-legal players, including not only investment firms but also agencies such as the SEC, legal firms specializing in the securities sector, accounting firms, and other organizations. Strategic advantages of semantic web rules include: a conceptual model relatively familiar to non-programmer domain experts; standardized uniform infrastructure with reduced costs, training time, customer lockin and risk; greater transparency and quality of policy enforcement engines; easier enterprise-level control, monitoring, and assurance; and much faster updating and maintenance of policies, e.g., to adopt new customer guidelines and regulatory compliance requirements.
Date: May 22, 2004
Location: New York, NY USA
Time: TBA
Email comments or questions to the Track Chair, Jennifer Golbeck at golbeck@cs.umd.edu