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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.

Version 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 OpenGamma?

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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