«
»

A few open source projects in the financial area

This is only the result of a quick search but it surfaced mightily interesting projects and interesting initiatives. I am glad to see some open source picking up in the financial applications area. It will be initially hard to compete with some of the software companies in the arena but it may help revitalise internal development efforts in major institutions and enhance the experience here.

Also there is certainly an opportunity there for smaller institutions to leverage open source and participate in it rather than buy very expensive, over the top commercial solutions.

QuickFix is a Fix engine that works with C, Java and even Ruby,

Marketcetera is an order management system that uses mostly java but also has a rails application,

JFin is a java project that offers date manipulation (fixed income developers know how precious this is) and is trying to build a derivatives model,

And a few quant libraries QuantLib, KQuant and JQuantLib.

I also need to mention OpenAdaptor, which was actually developed and contributed by Dresdner Kleinwort.

Post to Twitter

This entry was posted on Friday, February 15th, 2008 at 12:29 pm and is filed under Finance, Open Source. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

5 Responses to “A few open source projects in the financial area”

  1. Hering Cheng Says:
    February 19th, 2008 at 3:57 pm

    Another website with bits of analytics code is http://www.quantcode.com/.

  2. Denis Says:
    February 20th, 2008 at 10:54 am

    And I see you are a proud member of that community ! ;)

    Thanks for the link.

  3. David Morgan-Brown Says:
    March 6th, 2008 at 1:44 pm

    Thanks for the reference to the jFin project. We’re beginning the process of developing a full derivatives trading platform, initially aimed at interest rate derivatives.

    You’re absolutely right, it’s going to take a long time to be on a level with some of the commercial solutions in this space but I believe that this sector, more than many others, benefits massively from the open sharing of ideas and testing of solutions.

    From my perspective, the traditional approach of installing a monolithic solution for end to end processing of derivatives trades causes many issues that could be solved by gradually building up an open, flexible and well engineered set of SOA components.

  4. Denis Says:
    March 7th, 2008 at 1:51 pm

    Thanks for dropping a note David.

    I absolutely agree with you, the future of trading systems is modular. I believe it is the best way to keep pace with innovations and changes in the market (regulatory or otherwise).

    I also agree that developments of financial application have benefited tremendously of open source projects but few financial institutions are ready to share something back.

  5. Richard Gomes Says:
    April 24th, 2008 at 9:20 am

    Thanks for reference to JQuantLib http://www.jquantlib.org/

    JQuantLib provides a complete framework on valuation financial instruments, using a wide variety of algorithms. As it is written in Java, we plan to make it ready for the enterprise, splitting it in modules deployed under OSGi standards.

    Some useful links:
    Milestones: http://www.jquantlib.org/index.php/JQuantLib:Community_Portal
    JavaDocs: http://www.jquantlib.org/maven2/sites/jquantlib/apidocs/index.html
    Test Coverage: http://www.jquantlib.org/maven2/sites/jquantlib/cobertura/index.html
    Several Reports: http://www.jquantlib.org/maven2/sites/jquantlib/project-reports.html

    Kind Regards

Leave a Reply