Related papers: Certified Compilation of Financial Contracts
Exhaustive formal verification for systems of systems (SoS) is impractical and cannot be applied on a large scale. In this paper we propose to use statistical model checking for efficient verification of SoS. We address three relevant…
To realize reliable quantum software, techniques to automatically ensure the quantum software's correctness have recently been investigated. However, they primarily focus on fixed quantum circuits rather than the procedure of building…
Smart contracts codify real-world transactions and automatically execute the terms of the contract when predefined conditions are met. This paper proposes SmartML, a modeling language for smart contracts that is platform independent and…
We introduce a formal framework for analyzing trades in financial markets. An exchange is where multiple buyers and sellers participate to trade. These days, all big exchanges use computer algorithms that implement double sided auctions to…
Techniques for runtime verification often utilise specification languages that are (i) reasonably expressive, and (ii) relatively abstract (i.e. they operate on a level of abstraction that separates them from the system being monitored).…
Implementing smart contracts to automate the performance of high-value over-the-counter (OTC) financial derivatives is a formidable challenge. Due to the regulatory framework and the scale of financial risk if a contract were to go wrong,…
A computable contract is a contract that a computer can read, understand and execute. The financial services industry makes extensive use of contracts, for example, mortgage agreements, derivatives contracts, arbitration agreements, etc.…
Imprecise and incomplete specification of system \textit{configurations} threatens safety, security, functionality, and other critical system properties and uselessly enlarges the configuration spaces to be searched by configuration…
Financial structures such as securitisations, insurance contracts, and other hierarchical claims systems can be interpreted as deterministic allocation mechanisms acting on stochastic inflow processes. This paper develops a general…
Formally reasoning about functional programs is supposed to be straightforward and elegant, however, it is not typically done as a matter of course. Reasoning in a proof assistant requires "reimplementing" the code in those tools, which is…
Blockchain technology adds records to a list using cryptographic links. Therefore, the security of blockchain smart contracts is among the most popular contemporary research topics. To improve the theorem-proving technology in this field,…
The portfolio optimization problem is a basic problem of financial analysis. In the study, an optimization model for constructing an options portfolio with a certain payoff function has been proposed. The model is formulated as an integer…
Model checking temporal properties of software is algorithmically hard. To be practically feasible, it usually requires the creation of simpler, abstract models of the software, over which the properties are checked. However, creating…
We describe a method and tool called \textit{ContractCheck} that allows for the consistency analysis of legal contracts, in particular Sales Purchase Agreements (SPAs). The analysis relies on an encoding of the premises for the execution of…
Designing large-scale control systems to satisfy complex specifications is hard in practice, as most formal methods are limited to systems of modest size. Contract theory has been proposed as a modular alternative to formal methods in…
Software contracts allow programmers to state rich program properties using the full expressive power of an object language. However, since they are enforced at runtime, monitoring contracts imposes significant overhead and delays error…
How to apply automated verification technology such as model checking and static program analysis to millions of lines of embedded C/C++ code? How to package this technology in a way that it can be used by software developers and engineers,…
The use of function contracts to specify the behavior of functions often remains limited to the scope of a single function call. Relational properties link several function calls together within a single specification. They can express more…
Financial derivatives are contracts that can have a complex payoff dependent upon underlying benchmark assets. In this work, we present a quantum algorithm for the Monte Carlo pricing of financial derivatives. We show how the relevant…
We apply a compositional formal modeling and verification method to an autonomous aircraft taxi system. We provide insights into the modeling approach and we identify several research areas where further development is needed. Specifically,…