Skip to main content

Open Source CDS Analytics?

The big JD leaves town for a few days to pontificate and ski and the office just melts down and starts giving away critical intellectual capital. Boy is he going to be mad when he gets back.
In this particular case, to the gleeful joy of finance geeks everywhere, JP Morgan has assigned ownership of its Credit Default Swap Analytical Engine to the International Swaps and Derivatives Association, which plans to make it available as open source. That's pretty sexy.

"J.P. Morgan has invested a lot of intellectual capital in this analytical engine. Its willingness to assign this to ISDA for us to make it available as open source to the entire industry demonstrates our collective commitment to the integrity of the CDS product," said Robert Pickel, Executive Director and Chief Executive Officer, ISDA. "ISDA and its members are vigilant to public concerns around transparency. This is yet another measure of increased standardization in CDS."

ISDA Announces Agreement [] via Alea