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11/20/2019, 4:00 PM (Source: TeleTrader)
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Goldman Sachs to let Wall Street use Alloy for free

American investment bank Goldman Sachs Group Inc. said it decided to give away some of its data modelling software Alloy to the rest of the Wall Street as open-source software.

Neema Raphael, Goldman's co-chief data officer, said that the software and the language "have grown to become critical tools within our firm across the trade lifecycle that help us price, assess and evaluate risk, clear transactions, and perform regulatory reporting."

Goldman Sachs took 14 years to perfect this software and by giving it for free, it hopes to "unlock tremendous value for the industry when we co-develop and share models," added Raphael.

Breaking the News / TF