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for solving real-world problems, similar to engineering disciplines, or does it more or
less offer a smattering of courses in mathematics related to finance? Just as with product
teams, for students to implement financial theory in the real world, they need a step-by-
step process to follow. Other engineering disciplines have confronted this same problem
and chosen to design courses around building products using real-world machines and
real companies.
In this book, we present an overview of the body of knowledge of finance, linking
topics to create a linear progression of steps toward solutions to a business problem—how
to build trading and investment systems. We have not written in-depth chapters on areas
that are covered in detail in dozens of other books and hundreds of papers.
We had a difficult time drawing the line between adding in-depth quantitative finance
information and focusing solely on higher-level processes. Like graduate students doing
research, we often wandered off the path to smell the surroundings, only to force our-
selves back on the road to present a process map. For the interested reader who intends to
sniff the mathematical and technological flowers close up, we recommend the readings in
the end notes or searching the Internet for papers and books on topics of interest.
As one can imagine, additional credit for completion of this project must be given
to many friends, family, and colleagues, in particular to the many individuals who read
drafts of the chapters and provided invaluable feedback, including Bruce Rawlings,
Debbie Cernauskas, Fabian Valencia, Mulianto The, Dr. Zia Hassan, Assad Fehmy, Jason
Malkin, Batavia, Larissa J. Miller, Dr. Joe Wojkowski, Matt Lech, and Josip Roleta; and
all of our colleagues at the Illinois Institute of Technology ’ s Stuart School of Business:
Russell Wojcik, Dr. Michael Gorham, Keith Black, Dr. Michael Ong, Dr. John Bilson,
Dr. Michael Kelly, and Jodi Houlihan. Also we would like to thank the many students at
IIT who have also provided valuable feedback. Certainly without their help and the help
of many others this book would never have been completed.
Andy Kumiega also thanks Megan, Kayla, Carrie, and Therese Kumiega for their
long-term support. He also thanks Dr. Miller, Dr. Rice, and Dr. Cesarone for their guid-
ance and support in graduate school. Ben Van Vliet thanks his wife Julia for putting up
with late nights and long weekends of research and writing.
We hope you learn from our research the topic of process engineering for trading and
investment systems and are inspired to delve deeper into the topic. Please provide us with
any feedback you may have.Preface