Automatic Generation of Mathematical Modeling Components

SciComp, Inc.
Austin, TX

SciComp, Inc., used an award from the NIST Advanced Technology Program (ATP) to develop software synthesis tools that write applications software, enabling users to produce complex mathematical software without manual computer programming. This will lead to dramatically reduced costs in the development of mathematical software through increased programming productivity and elimination of common programming errors. The SciComp technology gives users the ability to tackle far more difficult problems -- problems whose complexity would cause them to be intractable to many firms -- on a routine basis. These techniques can be applied in a wide range of industries, including finance, electronics, oil and gas, pharmaceuticals, automotive, and aerospace. As an initial application, SciComp developed SciFinance, a tool which synthesizes computer code for options pricing, based on a short mathematical description, for a wide range of option structures. Rapid, accurate pricing for complex options structures gives both securities dealers and their customers a competitive advantage in the market and can increase risk-adjusted profits. SciComp recently received $1.5 million in venture funding to bring its software to market.

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Date created:February 1999
Last Update: April 24, 2003