RiskVal Financial Solutions Partners with NJIT Data Scientists to Model the Bond Market

Researchers at NJIT’s Ying Wu College of Computing (YWCC) have partnered with RiskVal Financial Solutions, a New York City-based global supplier of Software as a Service for pre-trade analysis and risk management. The objective is to use cutting-edge data science techniques to model fluctuations in the bond market.

The project is led by NJIT Professor Zhi Wei of the Department of Computer Science at Ying Wu College of Computing (YWCC), whose research focuses on data analytics, statistical modeling, machine learning and data mining. Assisting was Xiurui Hou, a doctoral student of Wei’s specializing in machine learning and statistics.

RiskVal’s CEO Jordan Hu is an NJIT alumnus, having earned a master’s degree in computer science from the university in 1989.

“During my time at NJIT, I was impressed by the breadth of the knowledge and the quality of the research done by the faculty, and have long wanted to take advantage of it in my company,” said Hu.

Craig Gotsman, dean of NJIT’s Ying Wu College of Computing, said partnering with the corporate world to develop actionable research is a key focus of the college.

“This type of partnership allows our faculty to take their research beyond the lab and have real-world impact,” said Gotsman. “It also provides a tremendous opportunity for our graduate students who assist in the project, gaining first-hand experience in applying their work.”

Wei said that the project lasted one semester and the model was perfected based on data provided by RiskVal. The team will continue to modify and improve the model as additional data becomes available.

For more information on collaborating with NJIT faculty on research projects, please contact Munir Cochinwala — CTO of the Ying Wu College of Computing — at munir@njit.edu.