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02 April 2012, 15:09

OpenGamma 1.0 released

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OpenGamma has announced version 1.0 of its open source analytics and risk management platform for the financial services industry. OpenGamma is the first company in this area to open source its software. The OpenGamma platform is designed to be a completely open and transparent architecture to help deliver high quality, real-time available trading and risk analytics used by front-office traders, quantitative analysts ("quants") and risk managers. According to the OpenGamma site, the platform, which has been downloaded over 4000 times, has 750,000 lines of code, 9,000 developer days of work and 10,694 test cases. It also apparently involved the consumption of over 37,000 cans of Dr Pepper Zero.

The open source nature of OpenGamma allows users to quickly customise it, integrate it with legacy systems or tailor it for performance or cost reduction. The platform comes with a "Universal Calculation Engine" which has a library of analytics and support for market data and trade data management. Version 1.0 adds an open source Bloomberg module which lets Bloomberg terminal or server API users access Bloomberg's data from within the platform, automatically loading reference data for exchange-traded securities.

An upgraded web user interface is now able to visualise multiple live sources of market and trade data, and has had its backend refined to improve system performance. The R system has also been integrated using an R module which can allow users to manipulate market data. Database functionality has also been enhanced and now includes new asset classes such as inflation products and FX futures, and customisable metadata for portfolios, positions, trades and securities.

Kirk Wylie, Founder and CEO of OpenGamma said the company was created in 2009 to "be radically open" and to "inspire a new way for financial services firms to interact with their technology". Version 1.0 of the OpenGamma platform was, said Wylie, one step further with "a stable, customizable vendor-supported solution to handle complex calculations, ensure compliance and cement competitive advantage – all with the source code they need at their fingertips". In a blog posting, Wylie called the 1.0 platform "battle tested and ready for use in production today", while outlining future plans for wider asset class coverage, more end user tools and more data integration.

Source and binaries for the OpenGamma 1.0 platform are licensed under the Apache 2.0 Licence and available to download from the OpenGamma site.


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