Open and Transparent
Open Source today stands for quality, lower TCO and greater freedom. It is now the norm in many of the areas of technology at the heart of bank and hedge fund IT, even if traditional financial technology vendors have been slow to adopt it.
Advantages of Open Source
- Every calculation, and the code behind it, is transparent. You can see the underlying code behind all analytics and models. You can inspect it, change it, and learn from it - and most importantly, explain to senior management, investors, clients or regulators the exact way in which a particular key metric has been computed.
- Simply better software. In Open Source projects, a large number of interested parties - not just the original development team - contribute to the development and debugging of source code over time. This usually means that bugs are detected and fixed quickly, and enhancements are added on a regular basis. It’s an environment of shared knowledge, ultimately resulting in higher-quality software and ensuring that the technology won’t go stale.
- Avoid vendor lock-in. When you deploy the OpenGamma Platform, you are in control of the code. We want to help you get the most out of the technology by providing the option of proactive support services through SLAs and assisting with development or integration work where necessary. But you have the freedom to go without us, or to choose a third-party integration partner, if that’s what makes the most sense to your business.
- Lower Total Cost of Ownership. Breaking down monopolies tends to result in lower costs for end users. Open Source doesn’t equal Free, but it does usually mean a radically smaller price tag.
No risk or trading analytics application exists in a vacuum; every firm has their own infrastructure, whether bespoke or vendor-provided, that forms part of the end-user solution. That's why we designed the OpenGamma Platform from the ground up to support the complex integration requirements modern financial services firms have. We don't believe in forklift upgrades or the need to replace massive legacy back-office or trade processing systems, and OpenGamma installations don't require them.
Every component in an OpenGamma Platform installation is individually usable in bespoke applications. If all you need is a single component (such as historical time series storage or calculation engine), you can add it to a new or legacy application without using the rest of the Platform.
In addition, every single component is individually replaceable by other components. If you have an existing system (in-house or third-party), that you'd prefer to use instead of OpenGamma, it's easy to replace our version with yours. In fact, some of our customers don’t use our data persistence at all and choose to integrate exclusively with their existing systems for data management.
This flexibility goes down to the low-level infrastructure we rely on. Want to use a relational database we've not worked with before? Need to use an in-house message-oriented-middleware product? Have a special data encoding the rest of your applications rely on that you need OpenGamma to read and write data in? All of these are easy with OpenGamma.
Open Development Methodology
To find out the information you need about our products, you don’t have to run through a gauntlet of salespeople and support staff - whether you're evaluating a first-time installation of the OpenGamma Platform, or finding out whether behavior you're seeing is a known bug.
- Want to read our documentation? It's online.
- Want to see what known bugs are in the Platform? It's online.
- Want to see what features are getting implemented in the next releases? It's online.
- Want to see which developer worked on a particular API? It's online.
- Want to download the entire source code? It's online.
Contrast that with traditional vendors, where even getting access to documentation requires a support enquiry, where source code access is highly restricted, and where details on bugs or roadmaps is considered competitive information to be shielded from customers and competitors at all costs.