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[News] JP Morgan Shows That Even FraudStreet Contributes to Free Software

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JP Morgan CDS Analytical Engine becoming open source

,----[ Quote ]
| "J.P. Morgan has invested a lot of intellectual capital in this analytical 
| engine. Its willingness to assign this to ISDA for us to make it available as 
| open source to the entire industry demonstrates our collective commitment to 
| the integrity of the CDS product," said Robert Pickel, Executive Director and 
| Chief Executive Officer, ISDA. "ISDA and its members are vigilant to public 
| concerns around transparency. This is yet another measure of increased 
| standardization in CDS."      


JPMorgan sacrifices CDS engine to open source in bid to stave off legislation

,----[ Quote ]
| The CDS analytical engine, originally developed by the Quantitative Research 
| group at JPMorgan, is widely used in the industry to price CDS contracts. 
| Isda says it will make the technology available as open source code, thereby 
| increasing transparency around CDS pricing. 



Open source trading platform could be a win for Wall Street

,----[ Quote ]
| Linux and open source software are a key component in the underlying
| infrastructure of the finance industry, but the higher layers of the stack
| are still dominated by a multitude of proprietary, in-house solutions. A
| software startup called Marketcetera aims to change that with a new, open
| source platform for building automated trading systems.


Bringing Open Source Software to Trading Desks

,----[ Quote ]
| Marketcetera, a Silicon Valley-based start-up, has developed open-source
| trading software that it says will make the creation of custom financial
| trading systems easier and cheaper. Rather than creating their own products,
| financial services firms, hedge funds and others can pick up the Marketcetera
| Platform software and use it as a basic framework for their operations. The
| financial companies just plug their algorithms and trading policies into the
| system and let it handle the demanding processing jobs required to obtain and
| analyze financial data.


Trading Up to Open Source

,----[ Quote ]
| The new code that has been added to these established projects is released
| under the GNU GPL v2. That's welcome, but there's a slightly misleading
| statement on the home page regarding downloads...

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