[CIO] BigDataFr recommends: At Goldman Sachs, APIs point the way toward a platform future

APIs secrets weapons lay in much of its internally developed softwareBigDataFr recommends: At Goldman Sachs, APIs point the way toward a platform future


[…] Opening up its ‘secret sauce’ has the financial giant’s peers scratching their heads. Now there’s unambiguous research that its plans make a lot of financial sense.

For a few years now, Goldman Sachs, the $68 billion Wall Street financial giant, has baffled both the financial and tech world.
 
On Wall Street, Goldman built a reputation for its considerable technical and software chops that it parlayed into a strategic advantage for plotting the timing of trades and averting losses.
 
For years one of its closely guarded secrets weapons lay in much of its internally developed software. The big one was Securities Database or SecDB which can compute more than 20 billion prices per day on millions of positions the bank holds in stocks and other securities […]

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By Arik Hesseldahl
Source: cio.com

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