- Open-sourcing of Alloy and Pure will take place in three phases
- The entire process is expected to be completed in mid-2020
According to a report by Seeking Alpha, Goldman Sachs Group is making its Alloy Platform and Pure modeling language available to other financial institutions by putting them in Fintech Open Source Foundation. This foundation is a nonprofit that encourages the adoption of open-source, open standards and collaborative software development practices in financial services.
The report also said according to Fintech Open Source Foundation commonly developed models that will use Pure modelling can expect to reduce system integration costs in bi-lateral and multilateral trading scenarios, for both sell-side and buy-side firms.
Open sourcing will take place in three phases
The report said that the open-sourcing of Alloy and Pure will take place in three phases. In the first phase, a new external version of Alloy will be deployed using GitLab for modeling source control. In the second phase, banks and financial services organisations will be called to use the external Alloy instance to pilot collaborative financial model development in Pure.
Lastly, the company will make it publicly available in a Fintech Open Source Foundation GitLab repository under an Apache 2.0 open source code. The entire process is expected to be completed in mid-2020.