Research On Wealth Management Asset Allocation System Based On Model Driven Architecture Development Method

As the competition in wealth management is increasingly severe between domestic financial institutions, how to build wealth management system is becoming a hot issue. The facts are the traditional management information system development methods can't completely meet all the demands such as changing requirement, technical (platform upgrade, reusability and interoperability, and the new development methods are not mature enough, either. Model Driven Architecture (MDA as abbreviation) is one of the new development methods, which can solve all the problems above. Based on analyzing and designing the asset allocation system for wealth management, this paper tentatively applied MDA to accomplish the transformation for business models of the system. It not only can meet the enterprise's requirement, but also complete an application trial for MDA.First of all, this paper elaborated the concepts in both asset allocation of wealth management and MDA area. The paper pointed out that there are many factors which are not taken into account in mean-variance model, so it needs to be optimized; and summarized the working principle of MDA implementation tool and how to use it to realize the model transformation.The working content of analyzing and designing asset allocation system can be divided into 2 aspects:designing the business model and constructing the mathematical model. In terms of business model, after analyzed all the business objects and processes involved, this paper provided the domain model; and then generated requirement model using feature-oriented domain modeling method. Domain model and requirement model are the precondition for constructing the platform independent model of the system.In terms of mathematical model, this paper improve the mean-variance model by taking trading cost and VaR constraint and risk free assets into account, and provided a case study for the new constructed model.Based on the analysis on both business model and mathematical model, this paper applied MDA development method by using Enterprise Architect, finished the whole process which consists of the transformation of 3 layers(Platform independent Model, Platform specific model and Code model) and 8 models(asset allocation domain model, asset allocation PIM, DDL PSM, JavaPSM etc.). The paper concluded that MDA development can greatly improve the productivity. In a word, this paper accomplished the analysis, design and model transformation for the asset allocation system, addressed the enterprises'actual needs for management information system. Considering the model transformation is based on MDA development method, this system guarantees the reusability of the code and interoperability between systems, and the productivity is also significantly improved.