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I would say in our profession we are often confronted with the need to present results to our bosses, to people from the outside,
and very often we have to explain these results, and not necessarily with math that not everyone will be able to understand.
Therefore, one major advantage of Mathematica is the ability to graph in 2 or 3 dimensions,
to manipulate graphical objects very easily, and also, it looks very nice.
Therefore, it makes a good impression on those outside the field, on the people we're explaining it all to.
Remy and I have worked in the BRED of the Banque Populaire for several years in financial risk management,
in charge of the management of second-level risks. Both of us have degrees in financial math.
And our work focuses on assessment, follow-up, and financial risk management linked to market activities.
In these evaluations of risk, there are follow-up, definition of limits, and indicators of risk. And also, Remy...
Also, everything that has to do with questions that are more quantitative in nature: risk management, validation of models,
independent validation of models, creation of pricing tools for risk follow-ups, developed with the help of Mathematica.
As you have seen, we are focusing fundamentally on the quantitative aspect of risk,
and the great strength of Mathematica is to help us focus on the mathematical level of things.
All the statistical, probabilistic libraries, the links with databases, with Excel files,
with the different environments that are already built in--we don't have to worry about that anymore.
We get a model down on paper, and we implement it immediately in Mathematica, which allows us to take advantage of all the calculations,
the formal language, and to really adapt ourselves quickly to the different needs of the market.
And we were saying before we discovered Mathematica, how we were oriented toward technologies such as JAVA or simply with JVBA,
in the process of pricing of complex products, and it is very likely we would encounter problems in terms of the speed of calculations,
the reliability of the results, so naturally we turned to Mathematica.
Thomas had already had some experience with it, and suggested that we use Mathematica instead.
And we made the right choice, because we have gained in productivity,
in quality of results, and it was beneficial.
Yes, one important thing is that Mathematica, through the environments that it offers, has been the engine of new ideas,
particularly the creation of an internet platform, since Mathematica also includes webMathematica,
which allows the use of tools on a web JSP technology,
and JSP is very adapted to an internet platform.
The banking sector, and particularly quantitative analysis, thus naturally UnRisk Pricing Engine,
which offers complex models, which will allow us to very quickly have models in our division,
which will allow us to benchmark the models from our other divisions.
And all this with an integration in Mathematica, which I think could not be any easier than it is.
Thus, to put it very simply, we are able to take advantage of the power and the reliability of calculations of Mathematica,
of webMathematica, and of a library of financial validation instruments as substantial as the one for risk.