" Hello !!! " to the Forum~~~This is the first message which I've posted since joining the forum......I was a lurker(??) for about 4 to 5 months.... ^^~~~and...before anything else.....I'd like to say that I really appreciate the effort and the workof Mr. Wilmott, and all others behind the scene,(and of course all the nice people that participate with so many message posts ^^)who have made this forum possible.This forum is simply awesome !! And so....I've been surfing around the web, looking for some nice, comprehensivesolution for pricing derivatives.....ofcourse there are so many.....It looks like that Reech has something called Adep,and so far as to my goofing around google,it seems that it is the most comprehensive...'Exotics, Structured, Whatever~~ All is possible' is what I get from the PDF brochure.....but who knows....and I need some help...If any body has any recommendation/opinion or,is aware of a cool solution/sofware,or any experiences with such modules, blablabla....could you share it with me ??Thanks in advance....ps 1. Should I post this on the Software Forum ??ps 2. Ofcourse, I don't work for Reech. Plz don't get me wrong~~ *^^*

If I were you, I'd write my own. It's not too difficult, graphics, simulations and all, in a language like mathematica. It's actually quite easy, and you will know it inside out and know what it does, and you will be able to modify it 1/2 dozen times a day.

Thank you Mr. Omar~~It's just that....It's not for my usage...It's for the job.... ^^....I'm making a list of commercial solutions/software products for derivatives pricing.....Why ??...Hmmm....Nothing confidential, but....Let's just say that there'll be a lot more trading of OTC derivatives in Korea......So, anything else like Adep ?? Or DerivaTool by FEA ??If you know any, please keep'em coming Thank you~~

Financial CADVery similar to what adep. Is a Excel Add-In

Thanks Mano~~~It is true that FinCAD provides a variety of Excel Add-ins.But...Is it okay if I asked you to comment on the performance of FinCAD ???I mean....Is it good ?? What about Adep ??......hmmmm........I believe that most of the forum members like to make and use their ownprograms and all...but, anybody who has used any of these commercial pricing solutions,could you give me a hand ?? Thanks~~

FinCad is good for individual pricing. But again the problem as with any other product is the lack of transparency. You do not understand where the number come from etc.

Thank you Mano Cheers~YULE

For writing any new stuff, you can do worse than have a look at the definitions used in the Financial products Markup Language (FpML) from ISDA.There's already a pile of stuff that interesting from a quantitative point of view.With standardisation/commoditisation of these products, coming through theirprecise definition, margins will drop and hence the pricing/risk management becomes more important.Of course I'm biased,...but it's amazing that there's not a single vendor that can price everything (without having to break everything apart on a spreadsheet firstthat is).

Mano >> FinCad is good for individual pricing. But again the problem as with any other product is the lack of transparency. You do not understand where the number come from etc. Exactly, this is the problem with these external packages. I think they are good short term solutions to get going or get some extra material for comparisons but beyond that they lack appeal. The problem is for in depth work they are too inextensible and inevitably not exactly what you want and you want to tinker. For less exacting uses, such as risk management systems etc, they would be OK but inevitably there is a problem with bugs which must be located for such bulk use to be reliable. FinCAD is a case in point here; I was involved in plumbing it into a risk management system a couple of years ago. It certainly gives value for money, it was quite cheap and covered a reasonable range of products, and I'm sure it has been improved in the intervening period, but back then it had plenty of lurking bugs. In the end it would have been more efficient to roll our own, as Omar says:Omar >> If I were you, I'd write my own. However it still depends on what purpose you have in mind. If you need to support a broad range of instruments it may be a bigger undertaking than you have capacity for/interest in. Of course there are many packages which do not give a bunch of fixed codes but which help you generate your own, for example SciFinance and SciXL SciComp which generate FD and/or MC code (even as XL add-ins ) code from instrument definitions. Also you can steal time by adopting something like QuantLib as a foundation and avoid much of the base work (QuantLib).

have you already had a look at rtg-online.com ?

Hey People ~~~I really appreciate the comments !! I've checked out the SciComp site, QuantLib and Risk Tech. Guide site as well.Looks like that Risk Waters Group has launched a nice search engine for commercial solutions, and it is free.I also had a look at the FmPL site...hmmm..very interesting....Is it used widely in the market ?? I mean.....I went through some documents and....looks like ISDA and FmPL are trying to develop a 'standard programming language' or something like that....(I'm not good at the computer/IT stuff .....)Anyways, plz keep the comments/thoughts coming !! Thank you

Not a programming language, just a definition of the products. XML is useful, becauseit's textual and works with different cultures/computer platforms. I think the 'Language'part is misleading. Standard development languages such as C++, Java, VB, C# are usedin apps.James Battle

Yule,I some interest in the derivatives market in Korea, and hence wouldbe keen to have a chat to you.My contact: +44 (0) 777 594 6279Alternatively, I can contact you if OK.Cheers,James Battle

Hello Mr. JamesBattle~~I think Korea runs 'bout 9 hours before UK.I do often stay late in the office, but.....Usually I take off as people in UK step into their offices.(You're probably in UK, right ??...from your phone number I mean..)So, why don't you mail me ?? yulekim@hotmail.comBTW, England & Korea goes head to head tomorrow for a football match !!!('Football' is the term for soccer in UK, right ?? Different from US.....)And then WorldCup begins in a couple of weeks I think Personally, I'm a huge fan of soccer and Owen is one of my heros !! So is Beckham !!But I hope my team wins tomorrow See ya~~