Hi Friends,


> 2. How much of open-source technology, R/Rmetrics is being used by the
> financial industry? ...


I fully agree with Thomas as I have found the same internationally in course
of my consulting experience.

It is the issue of licensing and intellectual property which blocks the
deployment of any open source software, like R or Quantlib, though they are
strong in domain.

Open source is not used even when modeling is required as just an  enabler
for the framework, leaving apart the requirement of a well tested
 proprietary software enterprise wise. The CROs of Investment Banks do not
choose open source like R , though some are Quants, have used R and are
using R and others for parallel testing. They choose a language where they
pay a license fee and buy peace of their mind, what they say.

I wonder how open source could add value to the Quants in the financial
industry, by having acceptance as an enabler for the framework, for its
strong domain expertise and research orientation.

Kinds Regards,
Debashis

2008/10/2 Thomas Steiner <finbref.2006@gmail.com>

> > 2. How much of open-source technology, R/Rmetrics is being used by the
> > financial industry? ...
>
> I work in the Front office (part of the "financial industry") in
> Emerging markets fixed income and I can say that people here prefer
> here quick, dirty and simple and so they stick to ready made solutions
> of all these ready made (grahical) solutions of proprietary software,
> namely unsing the Bloomberg and Reuters addins in Excel to look at
> things (and use them in MS Word). No open source - not only because IT
> guy do not allow us to install our own software, but people just use
> it for historical reasons and they are unwilling to learn sth new.
> Probably for real "quants" this is differnt.
> Thomas
>
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