Open Source

Open Source Risk Models

The Tools of the Trade

Open Risk promotes and supports the use of open source and non-proprietary frameworks, standards and languages for the development of open, transparent risk modelling tools and solutions. There is already a fantastic set of building blocks available for supporting an open source risk modelling universe, including but not limited to:

  • The Python language, tools and libraries
  • R, the statistics and modelling language and libraries
  • The Julia language, tools and libraries
  • The C++ language and Libraries

We advocate a toolkit view that uses the best tool for each task. For an in-depth list of functionality comparing (at-present) the Python, Julia and R ecosystems take a look at this side-by-side catalog

Open Risk Models

Python as the glue language for an open source risk management ecosystem

Open Risk promotes, in particular, the use of Python, a modern, free, powerful and widely available computing platform for the prototyping, documenting and validating of risk analytics relevant for risk management. One of the many benefits of adopting Python is that it can easily integrate already available specialized libraries such as those provided by R or C++. Our long-term objective is to build a high quality, open source risk management base (models & documentation, annotated datasets) that will be widely available. Check our sitemap of a list of projects