[LUG] Someone was asking about opensource financial modelling..

[Henry Bremridge <henry.bremridge@xxxxxxxxx>]

Can't remember who but given all the fun and games with the banks, I found the 
following bit of news brought a smile to my face

        http://www.isda.org/press/press012909.html

        NEW YORK, Thursday, January 29, 2009 - The International Swaps and 
Derivatives Association, Inc. (ISDA) today announced that J.P. Morgan has 
transferred to ISDA its CDS Analytical Engine.  The CDS analytical engine, 
originally developed by the Quantitative Research group at J.P. Morgan, is widely 
used in the industry to price CDS contracts. ISDA will make the analytical engine 
available as open source code, thereby increasing transparency around CDS pricing

I must admit when I first read this I did wonder what advantage JPMorgan was trying 
to get, then I read the following

http://dealbreaker.com/2009/01/why-open.php

[JP Morgan] open-sourced the CDS analytics engine because no one remembers which 
precise version of the "binaries" (compield source) code was originally handed over 
to Bloomberg to fuel the CDSW page.


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Henry
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