Is python useful for finance?

Over the past decade, with the advent of automation, technology has finally become a part of prominent financial institutions, banks, insurance and investment companies, stock trading firms, hedge funds, brokerages and more. According to the 2013 Crosman Report, banks and financial companies spent 4.2% more on technology in 2014 than in 2013. It is expected that in 2020, the annual technology cost of financial services will reach US$500 million. When the system needs maintenance and continuous upgrades, it is normal for some well-known banks to hire some developers.

So where is Python used? (Recommended learning: Python video tutorial)

Python's syntax makes it easy to implement financial algorithms and mathematical calculations. Each mathematical statement can be converted into a line of Python code, and each line allows more than 100,000 calculations.

No other language is as suitable for mathematics as Python. Python is proficient in calculations and permutation problems in mathematics and science.

The second feature of Python is to represent numbers, sequences and algorithms. For example, the SciPy library is very suitable for calculations in technical and scientific fields. The SicPy library is used by many engineers, scientists, and analysts.

NumPy, also an extension of Python, can handle mathematical functions, arrays and matrices well. At the same time, Python also supports strict coding modes, therefore, making it a balanced choice, or approach.

Using fewer people to achieve the same results and achieving things that other programming languages ​​cannot achieve are the primary advantages of Python. The precision and simplicity of Python's syntax, as well as its large number of valuable third-party tools, make it the only reliable choice for dealing with the intricacies of the financial industry.

Stephen Grant, technical recruiting manager at Cititec, an employment agency in London, England, said: Cross-market risk management and trading systems are using Python (sometimes mixed with C), and many banks have started from building banks. From the front end to the asset risk system, Python will be chosen. Financial companies using Python include ABN AMRO, Deutsche Börse Group, Bellco Credit Union, JPMorgan Chase, and Altis Investment Management.

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