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There is actually a business reason why this is the case. The general assumption in most investment banks is that either the market or the regulations will cha
by dworin 12y ago
There is actually a business reason why this is the case. The general assumption in most investment banks is that either the market or the regulations will change so quickly that by the time you've written software the "right" way, either the market or the government has already moved on. Excel lets you move fast, and make changes quickly, even if it results in a bloated mess later on. Like you say, Excel isn't the issue, it's the nature of the business.
- orbifold 12y agoI would still expect that with their profit margins they would all have come up with custom solutions by now.
- jmeister 12y agoThey all do in varying degrees - e.g. Goldman's Slang/SecDB -and are investing in well-engineered valuation/risk systems that work across various trading units due to regulatory pressures as well as to reduce manpower/maintenance costs.
- collyw 12y agoYou make Excel sound like the true agile way to do software.