Architecture requirements for commercializing Grid resources

Contemporary computing systems, especially large-scale systems such as Grids promise ultra-fast ubiquitous utility computing, always available at the flip of a switch. A major unresolved issue is the organization and efficient usage of such infrastructure in a commercial context where several entities compete for shared resources. This has long been resolved for conventional utility resources such as gas and electricity through commoditization, a variety of market designs, customization, and decision support for the resulting portfolios of assets and commitments. The paper reviews the state of Grid commercialization and compares it to the commercialization of conventional resources. We draw specific lessons for commercialized Grids and detail them as architecture requirements at each level of the architecture stack. We provide an example to illustrate the benefits of commercialized resources in terms of the financial clarity it brings to decisions for different user groups, namely application users and IT managers.

[1]  Rajkumar Buyya,et al.  GridSim: a toolkit for the modeling and simulation of distributed resource management and scheduling for Grid computing , 2002, Concurr. Comput. Pract. Exp..

[2]  J. Hull Options, futures & other derivatives , 2003 .

[3]  Scott Shenker,et al.  Specification of Guaranteed Quality of Service , 1997, RFC.

[4]  David C. Parkes,et al.  Iterative Combinatorial Auctions: Theory and Practice , 2000, AAAI/IAAI.

[5]  D. Heath,et al.  Bond Pricing and the Term Structure of Interest Rates: A Discrete Time Approximation , 1990, Journal of Financial and Quantitative Analysis.

[6]  D. Pilipović,et al.  Energy Risk: Valuing and Managing Energy Derivatives , 1997 .

[7]  Giorgos Cheliotis,et al.  Stochastic models for telecom commodity prices , 2001, Comput. Networks.

[8]  Andrew A. Chien,et al.  The MicroGrid: a Scientific Tool for Modeling Computational Grids , 2000, ACM/IEEE SC 2000 Conference (SC'00).

[9]  R. Buyya,et al.  Weaving Electrical and Computational Grids : How Analogous Are They ? , 2001 .

[10]  Michael Stonebraker,et al.  An economic paradigm for query processing and data migration in Mariposa , 1994, Proceedings of 3rd International Conference on Parallel and Distributed Information Systems.

[11]  Van Jacobson,et al.  An Expedited Forwarding PHB , 1999, RFC.

[12]  Michael P. Wellman,et al.  A Parametrization of the Auction Design Space , 2001, Games Econ. Behav..

[13]  Rajkumar Buyya,et al.  Weaving computational grids: how analogous are they with electrical grids? , 2002, Comput. Sci. Eng..

[14]  Tuomas Sandholm,et al.  Algorithm for optimal winner determination in combinatorial auctions , 2002, Artif. Intell..

[15]  L. Clewlow,et al.  Energy Derivatives: Pricing and Risk Management , 2000 .

[16]  Ivan E. Sutherland,et al.  A futures market in computer time , 1968, Commun. ACM.

[17]  Giorgos Cheliotis,et al.  Forward Price Dynamics and Option Prices for Network Commodities , 2002 .

[18]  B. E. Sorenson FINANCIAL CALCULUS: AN INTRODUCTION TO DERIVATIVE PRICING , 1998, Econometric Theory.

[19]  Riccardo Rebonato,et al.  Interest-rate option models , 1996 .

[20]  John M. Wilson,et al.  Introduction to Stochastic Programming , 1998, J. Oper. Res. Soc..

[21]  George D. Stamoulis,et al.  An auction mechanism for bandwidth allocation over paths , 2001 .

[22]  P. Klemperer Auction Theory: A Guide to the Literature , 1999 .

[23]  Henri Casanova,et al.  Simgrid: a toolkit for the simulation of application scheduling , 2001, Proceedings First IEEE/ACM International Symposium on Cluster Computing and the Grid.

[24]  W. Ziemba,et al.  Worldwide asset and liability modeling , 1998 .

[25]  Noam Nisan,et al.  The POPCORN market. Online markets for computational resources , 2000, Decis. Support Syst..

[26]  Geoff Huston,et al.  Quality of Service on the Internet: Fact, Fiction, or Compromise? , 2003 .

[27]  Steven Tuecke,et al.  The Physiology of the Grid An Open Grid Services Architecture for Distributed Systems Integration , 2002 .

[28]  David Abramson,et al.  A case for economy grid architecture for service oriented grid computing , 2001, Proceedings 15th International Parallel and Distributed Processing Symposium. IPDPS 2001.

[29]  N. Nisan,et al.  The POPCORN market—an online market for computational resources , 1998, ICE '98.