OpenGamma, a developer of analytics and risk management platform for financial services industry, has launched OpenGamma Platform 2.0, an open source alternative to traditional risk management solutions.
The enhanced platform offers advanced stress testing capabilities, performance improvements, and extended asset-class functionality across listed products and credit derivatives.
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The OpenGamma Platform offers support and real-time availability of critical trading and risk analytics required by front-office traders, quants, portfolio managers and risk professionals.
As an open source alternative to traditional risk management solutions, the platform provides the flexibility needed to address the rapidly changing financial landscape with cost-effective, transparent risk technology. Users can access the platform through their favorite languages and tools such as R, MATLAB, Excel, or in-house interfaces.
Some of the key enhancements in the OpenGamma Platform 2.0 include:
- Enhanced Stress Testing Capabilities: The OpenGamma Platform has always allowed programmers and "power users" to perform customized stress testing. However, the enhancements in the 2.0 Platform make this even easier. More advanced stress testing is achieved using a new Groovy-script-based stress testing domain-specific language (DSL), allowing for more advanced user-defined scenarios.
- Increased Support for Listed Products and Credit Derivatives: Support for credit derivative products such as single-name and index CDS and CDS Options. Improved support for high-volume listed futures and options, including FX and commodities.
- Improved Memory and Performance: Trading volumes are increasing as all markets, including OTC, go electronic. The platform contains numerous performance improvements and offers better performance and memory management for the larger and faster-changing portfolios common to electronic and other large-volume markets.
- Java 7 and Maven Support: The platform has transitioned to Java 7 to provide clients with a higher level of performance, efficiency, and security. With migration to Maven, the build automation tool, end users will benefit from improved build times, decreased reliance on source code builds, and significantly simplified set-up of their Eclipse workspace to work with OpenGamma source code.
Mas Nakachi, CEO of OpenGamma, said: "The OpenGamma Platform 2.0 offers an open, seamless solution that encompasses the benefits and tools that were offered in Version 1.0, with key enhancements that reflect new market challenges. With Version 2.0, the financial services industry gains the customization and flexibility needed to tackle new stress testing mandates and efficiently adapt to new risk system requirements."
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