| Computational Finance |
Article Index for Computational |
Website Links For Computational |
Information AboutComputational Finance |
| CATEGORIES ABOUT COMPUTATIONAL FINANCE | |
| mathematical finance | |
| mathematical science occupations | |
|
AREAS OF APPLICATION Areas where computational finance techniques are employed include:
MAJOR CONTRIBUTORS Some major contributors to computational finance include: Generally, individuals who fill positions in computational finance are known as “, Multivariate Calculus , Linear Algebra , Differential Equations , Probability Theory and Statistical Inference are often entry level requisites for such a position. has become the dominant language for two main reasons: the computationally intensive nature of many algorithms, and the focus on libraries rather than applications. Computational finance was traditionally populated by Ph.D s in finance, physics and mathematics who moved into the field from more pure, academic backgrounds (either directly from graduate school, or after teaching or research) prior to the 1980s. However, as the actual use of computers has become essential to rapidly carrying out computational finance decisions, a background in pure computer science is now also needed, and hence many computing graduates enter the field as well. Masters level degree holders are also increasingly making their presence felt as more terminal programs become available at the leading schools (hence field practitioners are almost exclusively recruited). Today, all full service institutional finance firms employ computational finance professionals in their banking and finance operations (as opposed to being ancillary Information Technology specialists), while there are many other boutique firms ranging from 20 or fewer employees to several thousand that specialize in quantitative trading alone. JPMorgan Chase & Co. was one of the first firms to create a large derivatives business and employ computational finance, (including through the formation of RiskMetrics ), while D. E. Shaw & Co. is probably the oldest and largest quant fund ( Citadel Investment Group is a major rival). SEE ALSO EXTERNAL LINKS
|
|
|