MISMIS-A comprehensive decision support system for stock market investment

Research output: Journal article publicationJournal articleAcademic researchpeer-review

27 Citations (Scopus)

Abstract

Nowadays, stock market is becoming a popular investment platform for both institutional and individual investors. The current financial information systems serve to provide latest information. However, they lack sophisticated analytical tools. This paper proposes a new architecture for financial information systems. The developed prototype is entitled as the Multi-level and Interactive Stock Market Investment System (MISMIS). It is specially designed for investors to build their financial models to forecast stock price and index. The performance of the financial models can be evaluated on a virtual trading platform. There are other features in MISMIS that are tailor-made to handle financial data; these include synchronized time frame, time series prediction techniques, preprocessing and transformation functions, multi-level modeling and interactive user interface. To illustrate the capability of MISMIS, we have evaluated strategies of trading the future options of Hang Seng Index (HSI). We find that historical HSI, Dow Jones Index, property price index, retailing sales figure, prime lending rate, and consumer price index in Hong Kong are essential factors affecting the performance of the trading of HSI's future option. Alòso there are some feedbacks from the in-depth interviews of six financial consultant upon how they perceived the prototype MISMIS.
Original languageEnglish
Pages (from-to)626-633
Number of pages8
JournalKnowledge-Based Systems
Volume23
Issue number6
DOIs
Publication statusPublished - 1 Aug 2010

Keywords

  • Decision support system
  • Hang Seng index
  • Multi-level system
  • Stock market intelligent trading system
  • Time series analysis

ASJC Scopus subject areas

  • Management Information Systems
  • Software
  • Information Systems and Management
  • Artificial Intelligence

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