[Gllug] RE: Open source financial database

[Wiehe, Simon]

I think most of us would come against a few hurdles with this, certainly those
of us that are permanently employed by Financial organisations.

Most contracts have an intellectual property rights clause that prevents you
doing certain things with information you gather from your employment.
Normally this relates to developing apps for financial gain but could include
this. Also, with the amount of money the big banks have why would you want to
write something open source for them to make even more money, it is not as if
you average Joe is going to use it. Unless of course you write something for
the small investor, but you would need an extended GPL or something to absolve
you from any losses. Just seems to risky to me.

Simon

-----Original Message-----
From: gllug-bounces at gllug.org.uk [mailto:gllug-bounces at gllug.org.uk]On
Behalf Of Nordlund, Niko
Sent: 24 November 2004 10:55
To: 'Greater London Linux Users Group'
Subject: Open source financial database



Hi,

I have a wild idea, and want to share it with you. The idea might be of
interest to all financial experts out there.

I have read about the Quantlib with enthusiasm. A brilliant concept: quants
from banks and corporates come together to code a free code for valuing
financial instruments. This means that one can value financial instruments
easily, without having to re-invent the wheel. 

Now, what if we did the same on treasury system side? The treasury system
providers make good money by keeping the source code to them selves. How about
coming up with open source treasury system? Use, say PostgreSQL, as a base to
build a solid treasury database. The idea is that you could download the
database (and GUI?) for free and tailor-make the system to your needs easily
and possibly even share your ideas in a true fashion of the open source. This
would be really great news for corporates and financial institutes!

Anyone interested?

Best regards,
Niko Nordlund

--------------------------------------
Niko Nordlund
Director
Stora Enso Financial Services

niko.nordlund at storaenso.com
--------------------------------------



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