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56 Comments
- LordRedSnake, on 01/15/2009, -0/+11Sure there are a ton of open source advocates that are anti-capitalist too, but there are plenty of capitalist members of the open source community as well. There's no reason open source software can't thrive in a capitalist economy, because open source does not necessarily mean that nobody is making money off of the software.
- dhayes501, on 01/14/2009, -1/+11http://www.apple.com/macosx/technology/unix.html
http://www.dwheeler.com/secure-programs/Secure-Pro ...
excerpt---
Most versions of Unix were proprietary and maintained by their respective hardware vendor, for example, Sun Solaris is a variant of System V. Three versions of the BSD branch of Unix ended up as open source: FreeBSD (concentrating on ease-of-installation for PC-type hardware), NetBSD (concentrating on many different CPU architectures), and a variant of NetBSD, OpenBSD (concentrating on security) - jas2701, on 01/15/2009, -1/+11That only applies to desktops. Lots of servers run on Linux/BSD; it may well be a majority.
- JAVandiver, on 01/15/2009, -1/+7What we really need as an open source equivalent of Quickbooks to help small business. Get crackin'!
- JAVandiver, on 01/15/2009, -1/+7$90 per license * 10 computers in my office = $900 that I would not rather have to spend. Coming in under budget = profit. Profit = bonus. Or do you work for free?
- Shivatron, on 01/15/2009, -0/+6I work in the industry, and what you've said makes no sense.
1. This article isn't about financial models, it's about a trading platform.
2. Lots of models are based on published (public) relationships. Instability often comes from the fundamental assumptions of those models being violated, not because they are "secret". Making things open does not necessarily make them right (although it can help).
3. Although the modeling of derivatives sometimes involves differential equations, I hope you aren't trying to suggest that derivative assets == differential equations.
4. "...looking into who they were buying those credit swaps"? Do you mean, what the underlying was? If that doesn't make sense, I would suggest reviewing the concept of a CDS.
5. "...companies weren't keeping enough cash to actually pay out those insurance premiums"? Huh? Do you mean the buyers of CDSs weren't able to pay the premium? (Usually the problem is that the seller is not able to make the payoff, but payoff != premium.) - jamesmcm, on 01/15/2009, -0/+5If anything Free Software provides the true free market, as it means the competition is fierce rather than distorted by closed protocols and lock-ins.
But it's a community so there's a range of views through-out it like any community. - whoaohh, on 01/15/2009, -0/+5Open Source is very good for a capitalist economy. If there's anything that's keeping software developers in check, it's open source.
Look at Mozilla vs. Microsoft. - redxxx, on 01/15/2009, -0/+5Don't forget embedded installs to things like DVRs and routers.
- inactive, on 01/15/2009, -0/+5[insert vague irrelevant anti-establishment remark about corruption and free markets]
- deduction, on 01/15/2009, -0/+5Another person is clueless as to how one gets started trading. It's not like you download the software and it automatically takes control of your financial accounts. Laymen don't realize that you have to transfer a bare minimum of $25k from your bank account to a broker in order to execute "day trades" per SEC regulation.
The software in question, if I understand it correctly, is merely a platform with which you connect to your broker and execute trades. The advantage is that this system is completely open and can be modified to make trades automatically. You can craft algorithms to make things like autospreaders.
In fact, I suggest everyone try this for themselves. Please, spend $25k trying to trade like a pro. More money for the rest of us to gobble up. - CrushThemTorg, on 01/15/2009, -0/+4You might have considered/rejected it already, but what about GnuCash? It has double-entry, QIF/OFX support, invoices, etc ...
There are actually a few open source finance management projects out there – Wikipedia has a pretty decent list. - trollick, on 01/15/2009, -1/+5Why don't they just migrate to pokerstars.com?
- deduction, on 01/15/2009, -0/+3Go easy, Shivatron. Grandparent seems to have only gleaned the buzzwords from the market "knowledge" he gained whilst watching 60 Minutes.
- jas2701, on 01/15/2009, -1/+4Just because someone is satisfied with that warm fuzzy feeling you get from knowing you helped, it doesn't mean all free software contributors think trying to make money is bad.
- Kumah, on 01/15/2009, -0/+3[insert agreement and vague suggestion of a violent revolution]
- elvisa, on 01/15/2009, -0/+2http://kmymoney2.sourceforge.net/
- soks86, on 01/15/2009, -0/+2HAHAHAHA!!!!!!!!!!!!!!!
Oh, what's terrible is how correct you are. - NJank, on 01/15/2009, -1/+3because they need a name that makes in NOT sound like gambling. they get to feign legitimacy that way.
- deduction, on 01/15/2009, -0/+2Wooo you have no idea what the article is about. This will allow quants to take models that they have developed and turn them into autonomous trading programs. No more executing trades manually. Marketcetera is a trading platform that will allow you to freely modify it for your own use. So, if you want to use it for sloppy day trading and simplistic charts, go ahead.
- flyer, on 01/15/2009, -0/+2http://code.google.com/p/jbooktrader/
- nkassi, on 01/15/2009, -0/+2Pretty much but on can try. Thanks for the info.
1. yeah I didn't rtfa before talking. Did later.
2. Interesting, but if others know what your doing, can't they use that against you?
3. Nah, but it helps me understand what they kinda are doing to think of them that way. Most other explanation didn't make sense.
5. yeah, you are right, I inverted those terms by typing faster than thinking. - soks86, on 01/15/2009, -0/+2It is very sad to see that this article received so much negative attention.
Esper and QuickFIX are some of the first open source projects I found in the financial markets and I'm very happy to see Open Source growing in finance. Can't wait for an OpenExchange... - webbertiger, on 01/15/2009, -0/+2If Wall Street does not want to be honest and always tries to make some trick to trap other people's money. No technology (no matter it is open source or not) can save them.
- soks86, on 01/15/2009, -0/+2This has nothing to do with "shady business" or anything else of the type. It's an open system for developing trading strategies and automating them.
As for QuickFIX, it has been used by many large business (UBS anyone?) as well as major exchanges (CME Group) so while I'm sure it might be somehow slow... well... it seems fast enough for everyone who uses it and last I checked that's all that matters.
Sadly I didn't see any strategy testing in the software and that is considered significant by some people... hmm... this is still a good step in the right direction. Many people may not be aware but there are some TERRIBLE software packages out there as well as maketdata providers and brokers that are slow and unstable yet still relied on for major transactions. I just hope this type of development gets somewhere and can help the industry to be more accessible to everyone. - JAVandiver, on 01/15/2009, -0/+2I agree that GnuCash is promising, but it does not have the interoperability as say MS Office & OpenOffice. Until then, I cannot foresee any real enterprise adoption.
- AgoodChap, on 01/15/2009, -0/+2You probably cannot sue because, knowing what your going into it is an assumed risk that you might slip if you go there. In the 80s when the PIT was worse. Every day there would be people coming out with injuries.
Just like you can't sue a hockey team if the puck hits you during a hockey game, it's an assumed risk that you knowingly take when you go to a hockey game.
Hurst v. East Coast Hockey League, Inc. (Lawyers USA No. 9934628) South Carolina Supreme Court No. 26222. Nov. 13, 2006. - shuffer, on 01/15/2009, -1/+3I can see what you mean, but the profit margins are artificially high at the moment, inflated by proprietary technology and patent trolls. Dell even tried to copyright the term 'Cloud Computing' recently! All this adds to the take-home price of software, which is fairly unique in the history of business. Take into account that the technologies that have made the most money have not been profitable to the creators of them (mostly PARC Xerox in the early days) and the whole thing resembles the Wild West.
From a business standpoint, it is easy to see how companies like Microsoft have created a resentment in the funding departments of major companies (like the one I work for). Historically, they have creamed off the profits by creating licenced software, sold by OEM's that aren't big enough to stand up to them. The only way this can (and has been, to some extent) stopped is by the rise of Open Source. Profit can still be made by building systems, creating software and from consultancy. - Kumah, on 01/15/2009, -0/+2I agree. Having attempted to start a few businesses myself anything that cuts back in costs is a great help. It would honestly be awesome if anyone could start their own business like one used to be able to. Unfortunately this isn't the case anymore...
- inactive, on 01/15/2009, -0/+2***** yeah! Sup Primal?
- inactive, on 01/15/2009, -2/+3open whores
- inactive, on 01/15/2009, -1/+2UNIX isn't open source, nor is it free.
That being said, OSX is not based on UNIX; it's based on BSD - a derivative. - MvTCracker, on 01/17/2009, -0/+1did you read my post?
- MvTCracker, on 01/16/2009, -0/+1so you digg me down when I have a valid point that you are causing jobs losses in the programming industry or is it your plan to ruin their lives to get them free time to do open source?
- jd1972, on 01/15/2009, -2/+3If you're referring to TT, any shop should throw it out with the rest of the garbage.
- DreadKnight, on 01/16/2009, -1/+2Actually you can make loads of money from open source.
OpenDesktop.org will be featuring a market soon allowing devs and artists to sell stuff.
Major linux companies are selling binaries and distros, but they need to accompany those with source code. - solidus23, on 01/15/2009, -2/+3I don't see this succeeding in any serious trading shop, but then again I'm a little biased since I work for one of the biggest trading system vendors. The problem is that these systems are already so entrenched that it would pose too-great a risk to try and switch to something so new and unproven (especially at the scales that these companies operate with. i.e., hundreds of brokers and thousands of orders per day).
- l0ki, on 01/15/2009, -2/+3If this has the speed of QuickFix then I doubt if will take off.
- joniox, on 01/15/2009, -1/+1Depends who you ask. If you ask them, they probably say they're just enthusiasts.
- CarbonXe, on 01/15/2009, -2/+2Someone should clean up those floors. We wouldn't want anyone to slip and sue.
- nkassi, on 01/15/2009, -5/+5I don't think we will see much opensource financial models comming out due to the need for competitive advantage in the market but there are plenty of tool now being used by financial analysts that are opensource like R. Frankly, more open models might bring more stability and efficiency to the market but only if it brings some sort of strong nash equilibrium where diverting from the equilibrium will only make you worse. This is cool idea and maybe should be explored. As long as knowing the model doesn't give someone else a possibility to exploit it then it's not a bad idea but thats not an easy thing to do you know.
I don't think this is completely possible but sounds like something that could help the average investor a lot. This is what the options pricing models where supposed to do and how derivative(pricing assets based on the value of others, differential equations) would also help stabilize markets but it all goes to ***** when the info comming in is garbage. Add to the fact that people where simply not taking proper precautions in looking into who they were buying those credit swaps. They got owned when they realized that these companies weren't keeping enough cash to actually pay out those insurance premiums when everything went to *****. not even a bare minimum of it. This is were regulation "could" help or better yet where failures need to happen to be a caution for the next folks. - mynameistux, on 01/15/2009, -3/+3its a trap
- tanady80, on 05/24/2009, -0/+0Hi all,
This sounds great..!
Thanks for bringing this up..
I've made a post on How To Choose Effective Trading Software.
Hope this could fit into someone who might be interested on this:
http://www.options-university.biz/blog/options-tra ...
Happy trading. Not Often.
Tanady
Options-University.Biz - MvTCracker, on 01/16/2009, -1/+1This is ironic they try to save money by going to free open source and lose jobs as the population increases more and more but lets make everything free give away food and teach people paying for quality things and supporting jobs is wrong.microsoft had to lay off 1200 people
but how does it feel to be directly responsible for people loosing jobs taking food off the table? causing there kids to suffer? the economic situation?
why would they need to cut costs if you paid for a legal windows license and office and windows server?
microsoft donates a lot and gives away a lot but it creates jobs and jobs are good if you have money do you need to steal? - IamNomad, on 01/16/2009, -0/+0youre just posted the same material i was going to. I currently work as a sysadmin for a large exchange. let me just say that at least our exchange is primarly built on open source development packages and the production system are all RHEL/SUN. I'de love to see them just be like heres are code.. but exchanges are too competitive with each other. Though i do the idea of an 'reliable' opensource FIX standard. maybe then we wouldnt see random delays for no apparent reason while recieving marketmaker data for example.
- BigPaully, on 02/07/2009, -0/+0I live in a free society and I can choose whatever solutions I want. And I want open code which I can tweak, customize, and build upon. Microsoft doesn't give me that.
This keeps everyone in the marketplace honest, and drives innovation. I have friends who work for Microsoft, I sympathize with them. - jamesmcm, on 01/15/2009, -2/+1There's a difference between Open Source and Free Software. You need to understand the differences between the BSD and the GPL licenses. The GPL license states that any derivations of the source must also make their source available under the GPL and so on. The BSD license allows anyone to use the code and then restrict it.
Apple used FreeBSD to develop OS X, (and the same with Webkit for Safari) because they are BSD licensed and so perfectly entitled to.
Please read: http://www.gnu.org/philosophy/open-source-misses-t ... it'll help clear things up.
And if you're interested I recommend :
http://www.gnu.org/licenses/licenses.html
http://www.gnu.org/philosophy/why-copyleft.html
http://www.gnu.org/philosophy/shouldbefree.html -
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