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Suite LLC’s new Python API to ALib™ speeds-up global rates-system

Software vendor Suite LLC announced today the commercial availability of a new API developed in response to demand by both buy- and sell-side users of the ALib financial analytic toolkit. The requirement was to offer developers the ability to access the library through a Python interface (in addition to existing interfaces including Excel, C#, C/C++, Java and VB/VBA). Following a beta release to two hedge-fund customers in March, a tier-one bank began evaluating the Python version of ALib for bond and liquid rates-derivatives calculations within its next-generation global rates system. The bank selected ALib after finding its performance to be significantly faster than an alternative solution, and much easier for their developers to integrate.

“Given the customers’ needs, we evaluated several approaches and chose to develop a native ctypes Python interface, which allows developers to make use of an industry-standard portable foreign function interface library to call functions in either 32- or 64-bit versions of the shared ALib libraries. The ctypes approach was chosen over a SWIG or Python extension module implementation as we found in this case it offered more transparency, easier maintenance and less complexity for our customers to deal with.” states Julio Leonardo Jimenez, Suite Principal and Systems Architect.

The bank’s new rates-system combines data and analytics which are stored as objects and globally replicated for immediate and consistent use throughout the enterprise. This new paradigm exploits ALib’s object-oriented architecture and its high-performance design.

Alib is an analytic toolkit used by top-tier banks, hedge funds, money-managers, data-providers, online trading venues, fund administrators and retail brokers. It is relied upon for pricing, valuation and market-risk management of corporate and sovereign bonds, fixed income derivatives (listed and OTC), credit derivatives, FX and related financial products. Other new features released in 2011 include expanded support for emerging market debt instruments, additional curve-building refinements, and more powerful trade/portfolio risk introspection tools.

Suite LLC is an independent software vendor established in 2001 and is headquartered in Midtown Manhattan.