cifinance
A Program Synthesis Tool for Financial Modeling
These codes, typically designed by the quantitative analysts at investment banks, help determine prices for investment products, make trading decisions, and assess and control financial risk. The rate of growth in this area is striking. For example, the volume of the parent industry, custom ("overthe-counter") derivative securities trading, has increased 12-fold from 1990 to 2000 to 80 trillion dollars. Spending for modeling software is close to a billion dollars a year, with an expected growth rate of about 10 percent. Scholes equation described in figure 1.