<On trading floors most spreadsheets have a real-time data component and an SQL component as well as numerous embedded routines like the Techhackers library for bond calculations. On top of that a number of them use special formatting calls which even Microsoft can't make compatible from release to release.>
For one, history has proven you wrong since most shops have already switched to Excel, simple as that. Second, both the sales and technical staff of Tech Hackers' @nalyst package, their best selling product, will confirm that the demand for 123 has waned to close to nothing. Ask Antul, the guy that started the company. Even IBM/Lotus appears to be abandoning/offering waning support for the third party market for 123. This is due to the fact that most of thier customers disagree with your perception of switching costs. Third, most higher end proprietary models/functions are upgraded on a periodic basis in upper management's attempt top mitigate and minimize model risk, therefore there are often oppurtunities to switch spreadsheet platforms when the models are upgraded. The fourth point, the maturity and robustness of the Excel native programming languange and third party vendor support are a considerably greater than that of 123 (Visual basic fir applicatios compared to the souped up macro language, Lotus Script), allowing for much richer data access products and math library availability ex. Financial CAD, @nalyst, FEA, New Media Finacial, Finanseer, DAO, etc. as opposed to a piddly of add-ins for 123.
<Switching to a different product is a huge task. I know because I've done it.>
My associates have worked in or for the data access and VB/VBA programming deparmtents of four of the world's largest investment banks. It appears to them that politics in the IT department is responsible for a large portion of the switching costs.
<If you were to add up all the man hours for a whole corporation like Chase Bank it runs into a lot of cash and there is no gain in productivity or competitive advantage.>
Not true, see the earlier portion of my post or ask Morgan Stanley's General M&A department.
<As usual you trivialize things to make a point. I doubt if you ever have had to run a large project. From your published resume you were a registered rep and now you run a very small shop. That's not the kind of experience that would allow you to even take part in this discussion.>
You appeared to have missed the list of my accomplishments and projects. Not only do I develop these add-ins myself for derivatives, structured products, and specialized corporate finance applications, but I also have developed what is probably the most advanced spreadsheet based financial application commercially available - rcmfinancial.com - currently being tested in three of the largest banks in the world as well as one of the largest computer companies for a potential rollout of several thousand seats. My associates are widely recognized as some of the best on the street. The reviews are quite favorable. I am the wrong person to get into a pissing match with over the capabilities of various spreadsheets and thier qualities. |
