Lambda the Ultimate

inactiveTopic DSL for financial contracts
started 1/16/2004; 9:49:10 AM - last post 1/16/2004; 12:00:47 PM
Olivier Lefevre - DSL for financial contracts  blueArrow
1/16/2004; 9:49:10 AM (reads: 897, responses: 1)
The paper that started this has already been mentioned on LtU: (see, but I thought I would point out that there is now (well, since 2002) a company dedicated to pushing the concept in the marketplace: Lexify (obvious URL). Briefly, the idea is that all financial instruments to date can be described using a set of just 15 combinators. The benefits of such a description are obvious. Lexify's implementation is written in Caml.

The company seems to have trouble getting traction but that is not unexpected (the main challenge with financial instruments is pricing, on which this work has no direct bearing) and it does not detract from the coolness of the product. For one thing, I know of only one other commercial product written in ML; for another, although banking is a huge consumer of IT, much of that is pretty tame. Sophisticated products like this are few.

Andris Birkmanis - Re: DSL for financial contracts  blueArrow
1/16/2004; 12:00:47 PM (reads: 370, responses: 0)
At this point, any red-blooded functional programmer should start to foam at the mouth, yelling "build a combinator library"

Some of these authors were cited a lot on LtU :) Also, it's interesting that LexiFi is located on INRIA's campus.