International journal of advanced smart convergence

The Institute of Internet, Broadcasting and Communication (한국인터넷방송통신학회)
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A Study on Open API of Securities and Investment Companies in Korea for Activating Big Data

  • Ryu, Gui Yeol (Dept. of Computer Science, Seokyeong University)
  • Received : 2019.04.16
  • Accepted : 2019.04.28
  • Published : 2019.06.30
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Abstract

Big data was associated with three key concepts, volume, variety, and velocity. Securities and investment services produce and store a large data of text/numbers. They have also the most data per company on the average in the US. Gartner found that the demand for big data in finance was 25%, which was the highest. Therefore securities and investment companies produce the largest data such as text/numbers, and have the highest demand. And insurance companies and credit card companies are using big data more actively than banking companies in Korea. Researches on the use of big data in securities and investment companies have been found to be insignificant. We surveyed 22 major securities and investment companies in Korea for activating big data. We can see they actively use AI for investment recommend. As for big data of securities and investment companies, we studied open API. Of the major 22 securities and investment companies, only six securities and investment companies are offering open APIs. The user OS is 100% Windows, and the language used is mainly VB, C#, MFC, and Excel provided by Windows. There is a difficulty in real-time analysis and decision making since developers cannot receive data directly using Hadoop, the big data platform. Development manuals are mainly provided on the Web, and only three companies provide as files. The development documentation for the file format is more convenient than web type. In order to activate big data in the securities and investment fields, we found that they should support Linux, and Java, Python, easy-to-view development manuals, videos such as YouTube.

Keywords

Table 1. The type of data generated and stored varies by sector

OTNBCL_2019_v8n2_102_t0001.png 이미지

Table 2. Average data per company per industry in the US

OTNBCL_2019_v8n2_102_t0002.png 이미지

Table 3. Demand for Big Data

OTNBCL_2019_v8n2_102_t0003.png 이미지

Table 4. open API supported by 22 major securities and investment companies in Korea

OTNBCL_2019_v8n2_102_t0004.png 이미지

Table 5. Characteristics of open API of securities and investment companies

OTNBCL_2019_v8n2_102_t0005.png 이미지

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