By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData Collective
  • Analytics
    AnalyticsShow More
    data analytics in sports industry
    Here’s How Data Analytics In Sports Is Changing The Game
    6 Min Read
    data analytics on nursing career
    Advances in Data Analytics Are Rapidly Transforming Nursing
    8 Min Read
    data analytics reveals the benefits of MBA
    Data Analytics Technology Proves Benefits of an MBA
    9 Min Read
    data-driven image seo
    Data Analytics Helps Marketers Substantially Boost Image SEO
    8 Min Read
    construction analytics
    5 Benefits of Analytics to Manage Commercial Construction
    5 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Open-source on Wall Street
Share
Notification Show More
Latest News
data analytics in sports industry
Here’s How Data Analytics In Sports Is Changing The Game
Big Data
data analytics on nursing career
Advances in Data Analytics Are Rapidly Transforming Nursing
Analytics
data analytics reveals the benefits of MBA
Data Analytics Technology Proves Benefits of an MBA
Analytics
anti-spoofing tips
Anti-Spoofing is Crucial for Data-Driven Businesses
Security
ai in software development
3 AI-Based Strategies to Develop Software in Uncertain Times
Software
Aa
SmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Uncategorized > Open-source on Wall Street
Uncategorized

Open-source on Wall Street

DavidMSmith
Last updated: 2009/05/26 at 8:06 PM
DavidMSmith
3 Min Read
SHARE

Wall Street and Technology reported in an article earlier this month that investment banks, hedge funds and other financial institutions are increasingly turning to open-source solutions for analysis and trading. It isn’t just for cost reasons, either: the maturity of the open-source movement and the availability of cutting-edge technology first are also cited as factors. As our own Colin Magee quotes: “People realize now that the open source project — which really has worldwide buy-in from top experts from whatever field — is perhaps a more secure and future-proof method of development than going with a proprietary vendor who can…

Wall Street and Technology reported in an article earlier this month that investment banks, hedge funds and other financial institutions are increasingly turning to open-source solutions for analysis and trading. It isn't just for cost reasons, either: the maturity of the open-source movement and the availability of cutting-edge technology first are also cited as factors. As our own Colin Magee quotes:

"People realize now that the open source project — which really has worldwide buy-in from top experts from whatever field — is perhaps a more secure and future-proof method of development than going with a proprietary vendor who can never keep with the worldwide community," says Colin Magee, VP sales and marketing at Revolution Computing, an open source predictive analytics platform for developing with R, the statistical modeling language.

More Read

big data improves

3 Ways Big Data Improves Leadership Within Companies

IT Is Not Analytics. Here’s Why.
Romney Invokes Analytics in Rebuke of Trump
WEF Davos 2016: Top 100 CEO bloggers
In Memoriam: Robin Fray Carey

Matt Asay at cnet News concurs:

Wall Street adoption has reached the point, in the words of senior Accenture executive Lloyd Altman, thatopen source has become a mandate for cash-strapped financial services firms tasked with doing more with less.

I've seen this in my own business: open-source applications are suddenly the less risky choice, given the need to get more for less.

But the more dramatic shift for Wall Street right now is that it is considering open-source alternatives for fundamental, industry-specific applications, applications like Marketcetera's open-source trading platform, which I've called "a lifeline to the hedge fund industry" because it enables the industry to become more efficient and more productive. REvolution Computing, Esper, and others are also benefiting from this shift.

Wall Street and Technology: Wall Street Opens Doors to Open Source Technologies

DavidMSmith May 26, 2009
Share this Article
Facebook Twitter Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

data analytics in sports industry
Here’s How Data Analytics In Sports Is Changing The Game
Big Data
data analytics on nursing career
Advances in Data Analytics Are Rapidly Transforming Nursing
Analytics
data analytics reveals the benefits of MBA
Data Analytics Technology Proves Benefits of an MBA
Analytics
anti-spoofing tips
Anti-Spoofing is Crucial for Data-Driven Businesses
Security

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

big data improves
Big DataJobsKnowledge ManagementUncategorized

3 Ways Big Data Improves Leadership Within Companies

6 Min Read
Image
Uncategorized

IT Is Not Analytics. Here’s Why.

7 Min Read

Romney Invokes Analytics in Rebuke of Trump

4 Min Read

WEF Davos 2016: Top 100 CEO bloggers

14 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai in ecommerce
Artificial Intelligence for eCommerce: A Closer Look
Artificial Intelligence
data-driven web design
5 Great Tips for Using Data Analytics for Website UX
Big Data

Quick Link

  • About
  • Contact
  • Privacy
Follow US

© 2008-23 SmartData Collective. All Rights Reserved.

Removed from reading list

Undo
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?