ACTUS (Algorithmic Contract Types Unified Standards)
is a data and algorithmic standard for the representation
of "smart" financial contracts developed and promoted by
the ACTUS Financial Research Foundation.
In particular, ACTUS Contract Types (CT's) are a set of generic
financial contract templates that are unique in terms of
the embedded exchange of cash flow obligations. The ACTUS
standards implement these obligations as a machine-readable
logic that allows to derive current as well as uncertain,
future cash flow signals. Therefore, ACTUS provides the common
and thus consistent business logic for "smart" real-time
applications such as transaction processing systems, bookkeeping
systems, or risk management and forward-looking analytical systems
in general. For more details on the standards, a data dictionary, or
a formal description of the algorithmic representation of CT's
please visit the ACTUS homepage.
On this interactive demonstration platform you can get a "hands-on"
experience of the ACTUS standards by analyzing the cash flow
obligations embedded in the various CT's. Therefore, the platform
allows you to alter market conditions, load a set of pre-configured
demonstration cases or define your own, specific contract terms and
translate these inputs into the financial contract's (future)
transaction (cash flow) signals using the ACTUS CTs.
The following diagram gives a
high-level overview of the ACTUS financial
contract modeling paradigm and may
serve as navigation through this
demonstration platform. As you can see, ACTUS CTs
require two types of input data:
(1) risk factor states, and (2)
CTs then transform these inputs into
a Contract Events (CE)
representation. CEs denote
real-world transaction events such as the
initiation of a contract deal, the
maturity of a contract or simply
interest and dividend
payments. These events then serve e.g. as the transaction
signals in a transaction processing signal or the
carry all information necessary to derive all
common analytic metrics.
Alter market conditions in the Market Environment menu.
Choose a CT and contract terms in
the Contract Types Calculator menu.
A number of demo cases providing a specific
set of contract terms is available
for every CT.
Alter the Analysis Date (AD0) on the
contract terms page.
When using the demo cases, a
compatible AD0 will be chosen
Translate the inputs into Contract
Events (CE) using the "Solve" button
on the bottom of the contract terms
Analysis Elements build on the
intermediate CE-results. Aggregation
of CE-results over multiple
contracts, specific time-periods, or
risk factor scenarios are important
operations here. Currently, this is
not covered here though.
On the results page, you may find a
graphical representation of the
expected cash flows as well as a
tabular representation of CEs. In
the CE table you find Dates, Types,
Values, and various other relevant
information which we call contract
state variables. Under tab
"Contract Terms" of the tabular
results section, you get an overview
of the contract terms used in this