DEVSTORY #11 : Counterparty Knowledge Graph (CKG)
Schedulers, Settlement analysts, and AR/AP professionals at a commodity trading operation need up-to-date operational reference data related to counterparties and service providers. Most systems of record used today by personas in these operational roles are out of date as soon as they are deployed as data changes quickly and the systems are reliant on people to keep them up to date.
Keeping reference data up to date across multiple firms calls for a central repository of this information. The information is updated once by the responsible party. Notifications of change can be sent to other business entities that can elect to update their systems of record manually or programmatically on some or all notifications.
The solution to this problem is a trading firm stores its reference information in the Counterparty Knowledge Graph (CKG) implemented using Neo4j. FAAS ( using OpenFAAS containerized functions on Kubernetes) and REST APIs implemented using Sanic Views exist to query the graph on demand for current up-to-date information about a counter party. This method is used to pull data from the Knowledge Graph on demand.
DEVSTORY #11 : Counterparty Knowledge Graph (CKG) details a solution that eliminates errors and resultant revenue impacts by providing clean up to date data to individual personas in operational, mid and back office roles of the commodity trading value chain.