The entry-screen API maps a product description into a high-level description of a Graphical User Interface for editing the parameters of that product.
LexiFi can provide a wide range of robust pricing models covering most (combinations of) asset classes.
These models can be readily used with the pricing scripts generated by the Instrument Box. Calibration routines are also available for these models.
Customers can also provide their own in-house (or third-party) Monte Carlo pricers. Provided these pricers are not specific to a certain payoff, they can often be easily adapted to work with pricing scripts, using a well-documented Monte Carlo pricer API.
In addition to valuation itself, analytics such as Value at Risk, Backtesting, Solver can be easily implemented on top of existing Instrument Box APIs (pricing, simulation).
LexiFi can provide expertise and support in the design and implementation of such analytics.
LexiFi does not act as a market data provider. Applications embedding the Instrument Box must therefore have access to other sources of market data.
LexiFi can provide expertise in the choice of a market data provider.
Instrument Box is not an application. It is an embeddable component, designed to be integrated in existing applications.
Instrument Box incorporates the most advanced technologies used by LexiFi itself to build LexiFi Apropos, its flagship end-user product.
Delivery of Instrument Box comes with privileged access to high-level consulting ressources by the same engineers who created and designed LexiFi’s innovative technologies. An extensive technology transfer program is also available.
OCaml is a modern open source programming system.
The project has received continuous support from INRIA (The French National Institute for Research in Computer Science and Control) over the past thirty years and is still actively maintained and extended.
OCaml combines the three prevalent programming paradigms (functional, imperative and object-oriented) in powerful ways. Its strong type system helps writing solid code and ensures tremendous agility during code refactoring and evolution. In addition to its high-level features, OCaml is also known for its high performance (efficient runtime system and native compilers).
For more information about OCaml, visit its official website, the INRIA website on OCaml or the Wikipedia entry.
The customer has full access to LexiFi’s core Contract Description Language and associated development tools. Only a few days of training are usually necessary for developers to gain enough familiarity with these technologies to be able to write scripts for new product shapes.
LexiFi can also provide additional resources to help the customer create those scripts, especially in the early phases of the integration project and/or for the most complex structures.
The customer can also decide to expose the Contract Description Language to their own end-users (and redistribute development tools), so that they can extend the customer’s application themselves.
OCaml is exceptionally well adapted to the implementation of symbolic manipulation tools such as domain specific languages.
LexiFi found that OCaml was the most effective tool for developing its financial contract description technology.
It turned out that OCaml is also a great general-purpose programming language, very well suited not only for developing elaborate technology, but also for organising the development of less exotic parts of the applications, such as user interfaces or database layers.
Today, the use of OCaml is a key ingredient in LexiFi’s ability to meet and exceed its customers’ demands in a timely fashion.