I am heading to the airport (to London), not able to write a post by the next wednesday. So I add one today - motivated by Stephen Wolfram's contribution - A Very Big Thing Is Coming, Wolfram Blog.
This describes why we have chosen the Wolfram Language as representation of the UnRisk Financial Language: it is a unified language to describe everything and compute many things.
Let me have a look at Domain Specific (Programming) Languages (DSL). A DSL is dedicated to a particular problem domain, a particular problem representation (that can be described in a language) and a particular solution technique (its operational semantics).
Verilog, an electronic hardware description language, SQL, the relational data base language, Modelica, the language for modeling multi-physics systems are examples of DSLs. Not all are declarative or task oriented or symbolic languages.
MathModelica (now Wolfram SystemModeler) is Modelica represented in the Wolfram Language and Mathematica - a symbolic DSL.
UnRisk Financial Language and UnRisk-Q are atop the Wolfram Language and Mathematica. It is a symbolic DSL. It inherits its power and adds high-level financial constructs and the corresponding operational semantics (ultra fast and robust pricing and calibration engines).
We have combined the power of Wolfram Language (a kind of mother of DSL) with financial derivatives intelligence, modeling and computational power.
Quants develop as we develop
This enables us to develop UnRisk in UnRisk and develop DSLs in cascades. Quants can do the same.
Symbolic programming is the key. Everything is a symbol even a program. This empowers programmers to nest programs, objects,.. and data in a unified manner.
The crucial building blocks of everything we make are: the UnRisk Financial Language and the optimized computation engines. We are integrating into the language all domain specific knowledge, algorithms and data required to automate derivatives and risk management tasks.
Because of the orthogonal organization of financial instruments, models and methods, models can become data (in across-model scenarios), and data models (results from external systems).
What does this all mean? UnRisk Financial Language is different. It provides so many things in the language that you usually need to put together yourself. It helps you and us to drive the innovation spiral faster.
