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Excel Still Fastest and Most Flexible Trade Capture System
IBM Offers To Move Laid Off Workers To India
By
Cory Levine
March 14, 2008
Don't give up on Microsoft Excel just yet. A new advisory note from TABB Group (Westborough, Mass.) argues that the old horse has some life in her yet. While financial services firms have been trying to move critical business functions away from Excel for years, citing difficulty in monitoring and maintenance of the program, TABB senior analyst Kevin McPartland points out that the market hasn't been able to provide a trade-capture system for bespoke derivatives that duplicates Excel's speed to market and inherent flexibility.
Traders are sticking to Excel because it empowers them to create new structured products without relying on the support of the IT organization, according to McPartland, who notes that several firms are enhancing this process with add-ins that offer a variety of functionality, including real-time market data and the ability to deliver product pricing to interested clients. In addition, he notes, several solution providers now offer software that enables real-time monitoring of Excel spreadsheets, addressing audit trail concerns. <<<
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