Simplify First - Then Automate

ruled the days in the boom time of factory automation. In discrete manufacturing, simplification means, less parts in a configuration, of good nature for machining, handling, assembly and in-line quality assurance.

Software is different, but not so. Again spurred on by the programming language discussion , I think of what enables us to provide push-button automation for risk management.
  • First, we have abstraction - we extract features and construct fewer, but higher deal types.
  • Second, we build configurations - we organize, deal types, models and methods orthogonally.
  • Third, we nest functions - we can assemble instruments (portfolios) and form scenarios groups.
  • Fourth, we apply MapReduce patterns - instrument analytics is distributed to a range of computation kernels and aggregated to portfolio across scenario results (portfolioValue=Apply[ParallelMap[potrtfolio, Valuate], Accumulate])
  • Fifth, we define and and schedule tasks - combine a time stamped list data structure with market data to perform operations automatically
In our integrated workbenches, we use Mathematica, Java, C++, .... Our customers build and schedule tasks and push buttons.

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