Open Source Financial Analytics

What’s New in OpenGamma 0.8.0?

Jessica Thornsby

Components for front-office and risk applications, released as open source.

0.8.0 of the OpenGamma platform
for financial institutions was
recently released, with a new web GUI and functionality for
drilling down into execution plans and calculations. In this
interview, JAXenter speaks to Kirk Wylie, OpenGamma’s Chief
Executive Officer and Chief Technology Officer, to find out what
else is new in the 0.8.0 release.

JAXenter: Can you introduce us to your
OpenGamma platform?

Kirk Wylie: The OpenGamma Platform is designed
to act as the basis for analytic applications for Front Office
Trading and Risk Management in the Financial Services industry.
Essentially, what we’ve found is that developers in banks and hedge
funds are building the same components over and over, without the
type of re-use within or between firms that you’d expect outside of
a large industry. We’ve built standardized, well-integrated
components for front-office and risk applications, in a completely
open architecture designed for integration, and released it under
the Apache Open Source license.

JAXenter: The recent 0.8.0 release of the
OpenGamma platform featured a new Web GUI. What additional
functionality does this bring to the OpenGamma experience?

Kirk: We believe that we are building the best
technology in the industry; certainly our architecture and design
are better than proprietary vendor solutions, and we’re nearing up
on what happens in the most advanced in-house applications. But
that’s nothing without a fantastic
set of user interface tools on top of it.

The new Web GUI is still young, but it shows where we’re taking
our primary user interface tool: our focus on searching and runtime
filtering, our seamless connections between the various data
elements, and our exploiting of modern web technologies helps to
highlight what future releases will bring.

JAXenter: The 0.8.0 release introduces an
Analytics viewer. What functionality does this add?

Kirk: The Analytics viewer has been part of the
OpenGamma Platform since our first, 0.7.0 release. However, there
have been two major advances in this version:

* Our Analytics viewer is fully integrated with the new Web GUI;
it’s the only part of our old GUI that was considered good enough
for inclusion in the new user interface.

* The Explain Value functionality, available now, we believe is
a game changer. It shows users every single calculation step that
led to the results they’re seeing on the screen, and it updates in
real-time, just like the result values. It’s almost unprecedented
in this type of software.

JAXenter: What are the next steps for

Kirk: We’re aggressively working towards our
1.0 release, and are focusing on a number of areas:

* Additional asset class support, in our Analytics library as
well as our Security Master components.
* Making our trading data management support (Securities as well as
Trades/Positions/Portfolios) so comprehensive that there’s no
reason for anyone to build in-house ever again.
* Fulfilling on the promise of our current user interface tools and
making the platform as easy to use as possible.

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