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Composer and Behavioural Finance Expert Create 'Reality' Opera Based on Open Outcry Stock Trading Floor
By: PR Newswire
Dec. 7, 2012 03:01 AM
LONDON, December 7, 2012 /PRNewswire/ --
Reality TV is an old concept which we're all familiar with. However, Alexis Kirke, a leading composer at the Interdisciplinary Centre for Computer Music Research at Plymouth University , and Dr Greg B Davies, Head of Behavioural and Quantitative Finance at Barclays, have taken reality performances to another level by partnering with Barclays to produce a reality opera. The performance, which was held on the 15th November 2012 at Egyptian Hall, Mansion House, focused on the drama unfolding on an "open outcry" stock trading floor, the type of trading floor on which traditionally traders shout and use hand-signals.
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Thanks to melodies carefully crafted with evolutionary computer algorithms, during the performance singers sang what they wanted, when they wanted, within certain rules, just like the freedom people have in reality TV programmes. However, like a traditional opera, music was used alongside singers to demonstrate the emotion of the story.
The concept was conceived by Alexis and the opera brought to life in collaboration with
To enable the music to express the emotional activity on the trading floor, Kirke composed what he calls "trading phrases" such that when most singers were buying, the harmonies between them were pleasant, and when most are selling, the harmonies clashed. When two performers sang 'buy' and 'sell' melodies for the same asset, the two sounded in time and harmonious.
'Open Outcry' featured 12 singers and a cellist, Joseph Spooner. The audience sat at tables among the "traders" (in the trading pit), and the conductor rang a bell to signify the market opening. As the cellist played, large screens displayed stock information and the conductor guided some aspects of the permissible actions of the singers. The performers sang one musical phrase to buy each asset and another to sell. The prices were largely driven by random market movements generated by a computer model, though the conductor did have some power to influence stock prices, as did the effect of the "trading" between the singers themselves.
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