[Haskell-cafe] Why are OCaml and Haskell being used at these
luc.taesch at gmail.com
Wed Nov 14 05:55:16 EST 2007
well, I generally read more than post on the list, but being in investment
banking ( for 20 years), this one is too hard to resist...
The kind of job these guys do is highly mathematical ( quantitative
analysis) as opposed to traditional banking or Back Offices where th job
is (not so clever) record crunching...
buying software packge also make little sense for them, because the very
nature of the job is to develop new models to play around market
inefficiencies, or just against competitors models... if everybody would
have the same ( model, package), they would be out of business...
time to market is key, reliability too , and the kind of guy they hire (
quant analyst) have the brain to learn new languages , so this is not the
same problem as turning an army of cobolist into java.
also, the very expressive nature of functiunal programming blends very wells
with maths, better than record crunching...
if you add on top grid computing and parralelism... ( monte carlo is not
only a casino in the south of france.
for these guys...)
so they are small elite teams..that fits well with visionary products... do
not expect it to be a lead to mass expansion for tommorow, these people are
already living in a ivory tower compared to their peers retail-bankers...
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