Spreadsheet Technology in finance
The Innovation Network for Finance IT and Copenhagen Fintech Innovation and Research (CFIR) invite you to a session on spreadsheet technology in finance with one the leading experts in spreadsheet technology Professor Peter Sestoft from the IT University of Copenhagen, author of Spreadsheet Implementation Technology (MIT Press, 2014). Peter Sestoft and his group have developed an implementation of sheet-defined functions, a mechanism that allows spreadsheet users to define their own functions, using only spreadsheet concepts such as cells, formulas and references, and no external programming languages. Spreadsheet technology is used by the financial technology companies SimCorp and Edlund and internationally by Standard Chartered Bank.
At the event you can hear the case on how Edlund A/S incorporate Excel into the main work flows of Actulus Portfolio Calculator and discuss how you can utilize spreadsheet technology in your company.
Although ubiquitous, spreadsheets are often frowned upon and considered poor and temporary substitutes for 'real IT systems', but maybe we should revise this idea and instead consider them fertile grounds for invention by domain experts (in finance), and try to support sound practices such as systematic testing. Also, new spreadsheet technology may take this idea much further.
The ultimate goal of Peter Sestoft and his group’s work is to allow spreadsheet users themselves to develop and evolve libraries of user-defined functions to support sophisticated spreadsheet models. Defining a function requires only well-known spreadsheet concepts such as cell, cell reference and function, and no external programming languages. Therefore experimentation and adaptation of user-defined functions remain under the control of the spreadsheet users and domain experts, who need not wait for an IT department to understand, describe, implement and test the desired changes.
In this session you can:
- gain insights to the use of spreadsheets technology and possible extensions and how it can be applied to your company in financial services.
- learn from other companies practice and specific challenges in the use of spreadsheets
- discuss ideas and possibilities for spreadsheet technology in finance
- identify collaboration possibilities with your company and researchers in the field of spreadsheet functions and parallelization of spreadsheet operations, "end-user supercomputing", in finance.
- 9.30.-10.00 Coffee and registration
- 10.00-10.10: Welcome by Senior Consultant Anders Pall Skött, CFIR and Professor Peter Sestoft, IT University Copenhagen
- 10.10-12.30: Spreadsheet technology. Presentation and discussion.
- "Some advances in spreadsheet technology: sheet-defined functions and end-user supercomputing" Professor Peter Sestoft, IT University Copenhagen
- "Using Excel with computational life- and pension software" Mikkel Bollinger Edlund A/S, Manager of the Actulus project
- "Where Simcorp uses spreadsheets, and why, and where not" Else Braathen, Risk Domain Manager, SimCorp
- 12.30-13.00: Sandwich and networking