December 2014
Intermediate to advanced
372 pages
11h 5m
English
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Chapter 4. Numerical computing in the financial domain
Chao-Jen Chen
The modern finance industry can’t operate without numerical computing. Financial institutions, such as investment banks, hedge funds, commercial banks, and even central banks, heavily use various numerical methods for derivatives pricing, hedging, and risk management. Usually the production systems of those numerical methods are implemented in general-purpose object-oriented languages like C++, C#, and Java. But there’s a steady, emerging trend in the industry: financial institutions are increasingly adopting functional languages, including F#, when implementing their new derivatives-pricing or risk-control systems. One of the reasons this is happening is that a functional language ...
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