Goldman has decided to give away its security pricing and risk management software:
“Called Securities DataBase, or SecDB, the system remains Goldman’s prime tool for measuring risk and analyzing the prices of securities, and it calculates 23 billion prices across 2.8 million positions daily. It has played a crucial role in many of the seminal moments of the firm’s recent history, including its controversial trading just ahead of the financial crisis.”
Here is a takeaway quote:
“Regulation has dulled that advantage,” said Peter Carr, a former Morgan Stanley executive who teaches at New York University.”
And, these systems are already around:
“Goldman is seeking its niche in a crowded field. BlackRock Inc. offers its own risk-management system, called Aladdin, and Bloomberg LP’s terminals remain a ubiquitous presence on trading floors.”
Here is the link:
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