The growing computational power requirements of grand challenge applications has promoted the need for linking high-performance computational resources distributed across multiple organisations. This is fueled by the availability of the Internet as a ubiquitous commodity communication media, low cost high-performance machines such as clusters across multiple organisations, and the rise of scientific problems of multi-organisational interest. The availability of expensive, special class of scientific instruments or devices and data sources in few organisations has increased the interest in offering a remote access to these resources. The recent popularity of coupling (local and remote) computational resources, special class of scientific instruments, and data sources across the Internet for solving problems has led to the emergence of a new platform called "Computational Grid". This paper identifies the issues in resource management and scheduling driven by computational economy in the emerging grid computing context. They also apply to clusters of clusters environment (known as federated clusters or hyperclusters) formed by coupling multiple (geographically distributed) clusters located in the same or different organisations. We discuss our current work on the Nimrod/G resource broker, whose scheduling mechanism is driven by a user supplied application deadline and a resource access budget. However, current Grid access frameworks do not provide the dynamic resource trading services that are required to facilitate flexible application scheduling. In order to overcome this limitation, we have proposed an infrastructure called GRid Architecture for Computational Economy (GRACE). In this paper we present the motivations for grid computing, resource management architecture, Nimrod/G resource broker, computational economy, and GRACE infrastructure and its APIs along with future work.
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