All About ‘Bank Python,’ a Finance-Specific Language Fork – InApps Technology is an article under the topic Software Development Many of you are most interested in today !! Today, let’s InApps.net learn All About ‘Bank Python,’ a Finance-Specific Language Fork – InApps Technology in today’s post !

Read more about All About ‘Bank Python,’ a Finance-Specific Language Fork – InApps Technology at Wikipedia

You can find content about All About ‘Bank Python,’ a Finance-Specific Language Fork – InApps Technology from the Wikipedia website

In November, London-based software engineer Cal Paterson published a fascinating “oral history of Bank Python,” describing it as “The strange world of Python, as used by big investment banks … effectively proprietary forks of the entire Python ecosystem.”

In an email interview with InApps Technology, Paterson told me he’s worked at more than one institution using its own flavor of Bank Python — and the “strong similarities” suggest IT workers carried the banner of its basic ideology when they moved from one investment bank to another.

“If you know a certain important function existed at a previous bank in a certain file, it probably exists in the same file in your current bank,” he said.

His own work history includes writing Python in proprietary in-house environments at JP Morgan (Athena) and Bank of America Merill Lynch (Quartz), as well as a four-month gig as a Python developer at Citibank. (Although Paterson also adds that even within the investment banking industry, “some banks have it and some do not.”)

To avoid revealing employer-specific details, his blog post just presented a fictional amalgamation of what he’s seen throughout his career. But it still offers a great chance to explore an exotic fork of an entire programming language, which is almost completely unknown to the general public.

Underscoring the intrigue in his essay, Paterson writes that “foreign systems, like foreign countries, can be mind-expanding when experienced firsthand.”

No Filesystems, Just a Big Database of Objects

The first big surprise: Bank Python doesn’t have access to a filesystem! But it also doesn’t seem to need one, since most of what it would operate on already exists in a massive database of objects, representing things like trade and market data. These objects represent everything from simple bonds to more complex derivative instruments.

“If some bad news about a company is published and a credit agency downgrades their credit rating, then someone in bonds will update the relevant Bond object,” Paterson’s essay explained.

And this instantly propagates to any other calculations that include the value of that bond object — just as simple as changing a cell’s value in an Excel spreadsheet automatically causes any formulas using that cell to update its own value. (This also allows the implementation of handy additional features like “time-traveling” through your data to see its values in the past or future.)

An anthropologist might argue this structure holds clues to the culture of investment banks. Interestingly, Paterson described this stack in his essay as “heavily influenced by the technological path dependency of the financial sector, which is another way of saying: there is a lot of MS Excel.”

Read More:   What Should Be a Student’s First Programming Language? – InApps Technology 2022

Through the years, he acknowledged in his essay, many have had logical business reasons for a company-wide switch to Kubernetes, microservices and a service mesh. But weaning reluctant users off their familiar Microsoft spreadsheet “takes away that basic agency of those Excel users, who no longer understand the business process they run and now have to negotiate with ludicrous technology dweebs for each software change.”

He continued, “Using simple Python functions, in a source-controlled system, is a better middle ground than the modern-day equivalent of Java 2 Enterprise Edition.

“Financiers are able to learn Python, and while they may never be amazing at it they can contribute to a much higher level and even make their own changes and get them deployed.”

So Bank Python programs first just open a connection to that database of objects — and then away they go. But it’s even crazier than that, since even your application’s main source code gets stored in that database, where it’s run by a single jobs-processing “runner.”

In his essay, Paterson compared it to something like Jenkins or systemd — and note that this setup has several advantages. “It can restart your software if it crashes and sends out alerts if it keeps crashing. It stores logs. It understands dependencies between jobs (much like systemd does) so if the job that generates the data your job needs fails, your job doesn’t even try starting up but instead fires more alerts.”

But most importantly, it lets you run code in a major security-conscious institution just by creating a very simple initialization file. “This is a big deal because negotiating anything in large bank is an exercise in frustration: lead times on hardware can be measured in months,” Paterson wrote. “Getting people to agree with you takes, of course, much longer than that.”

Customized Python, ‘Invented’ In-House

Bank Python implementations also seem to be using their own proprietary data structure for tables, offering faster access to medium-sized datasets (while storing them more efficiently in memory).

“Some implementations are lumps of C++ (not atypical of financial software) and some are thin veneers over sqlite3,” Paterson said.  (His friend Salim Fadhley, a London-based developer, has even released an (all-Python) version of the table data structure called eztable.)

Paterson concludes that while most programming has a code-first approach, Bank Python would be characterized as data-first. While it’s ostensibly object-oriented, “you group the data into tables and then the code lives separately.”

Needless to say, Bank Python inevitably ends up getting its own internal integrated development environment (IDE) to handle all of its unique configuration quirks, and it even has its own unique version-control system for code. Paterson acknowledged the uncharitable assessment that it’s all just a grand exercise in distrusting anything that originated outside the company (known in the programming field as the fearful “Not Invented Here” syndrome).

The biggest downside made be for the developers who work there, since every year you spend in your employer’s bespoke monoculture, “the skills you need to interact with normal software atrophy.” Just one example: “When everything is in the same repository and all code is just an import away, software packaging just does not come up.”

Of course, after years of working at banks, Paterson also experienced a more personal problem: “existential ennui arising from prolonged exposure to Windows 7 and MS Outlook 2010.”

Read More:   What is application software? 12 application software examples

Developers Share ‘Bank Python’ Tales

Paterson’s blog post captured the interest of developers on social media, garnering 546 upvotes in Reddit’s programming forum, and another 864 upvotes on Hacker News. “Having worked in an investment bank before this brought some flashbacks,” admitted one Hacker News commenter.

“Honestly, this sounds a lot less insane than a lot of ‘conventional’ stacks,” another reader commented.

But it’s a glimpse into an alternate universe where entire software systems are ultimately home-brewed in-house. One Hacker News comment came from Sean Hunter, a former vice president on the Goldman Sachs strategist (or “strats”) team, who posted that he’d been the one who’d introduced Python there around 2002 to 2003.

And Hunter shared some more memories with the eFinancialCareers site, remembering how over his next nine years at Goldman Sachs they’d even created an ahead-of-its-time DevOps environment deploying code updates with a CI/CD pipeline — written in Perl.

“At that time it was 20 million lines of C++ and 10 million lines of Java and we’d push it out to all our machines worldwide,” Hunter said. He believes that, at the time, there was nothing like it anywhere else in the world.

And there was also a cloud-like internal computing grid where calculations were spread across different servers. (In a later comment, Hunter recalled 667 different developers committing in just one two-week cycle.) “Everything we did was top secret and no one outside would ever know about it,” he told eFinancial Carers about his time at Goldman Sachs. “Banks build huge amounts of things for specific use cases that don’t exist yet and then the world catches up.”

Respect for ‘Bank Python’ Contributors

Paterson enjoyed Hunter’s comments on Hacker News, and said he also heard from people who work outside of the finance industry saying they liked the idea of Bank Python. “I think there are a number of ‘k8s dissidents’ who dislike the direction that making software has gone in.”

He also suggested that, today, the company Beacon is essentially marketing “a white-label version of Bank Python.”

But underneath his reaction seems to be a true appreciation for all the care and effort that went into building an entire Bank Python ecosystem.

Today Python’s core team has now grown and become more professionalized/less volunteer — but Paterson estimates that, in 2010, a large bank that forked the Python ecosystem (including the interpreter) could’ve ultimately been deploying more manhours than Python’s original, smaller, all-volunteer core team.

In our interview, Paterson described the system as “brilliant,” and told me he wished he could still use it.


Source: InApps.net

List of Keywords users find our article on Google:

python jobs
excel grand forks
python all
veneers el segundo ca
python fork
all python
inhouse bank
efinancial career
bank of america java developer jobs
t-mobile – closed paterson
website development company american fork
t-mobile – closed in paterson
veneers mission district
outsourced investment banking representative
python developer jobs
memory care paterson
bank software developer
custom banners paterson
lynch syndrome wikipedia
jp morgan software engineer interview
weaning wikipedia
veneers wikipedia
dweebs global
fork wikipedia
goldman sachs bank usa cd rates
appsmith
bank of america software developer jobs
weaning fork
python foreach
white label social media software
efinancialcareers jobs
fork saigon ho chi minh city
ho chi minh veneers
bank of america python
open banking and the finance stack of the future
python jobs london
python developer london
banner service paterson
python a
finance website templates
python runner
excel keeps crashing
middle python developer
efinancialcareers app
efinancialcareers london
bank of america k8s
efinancialcareers review
finance python jobs
bank of america ci/cd
python finance jobs
fork python
java developers london outsource
citibank software engineer
amazon veneers
jenkins job builder
goldman sachs ux
hacker news jobs
python assessment linkedin
what values would characterize a conscious corporate culture?
linkedin python assessment
work from home python jobs
bank of america qa jobs
social media marketing agency ho chi minh
social media marketing company american fork
citibank tech stack
learn python reddit
hire banking ui designers
ats grid
c++ filesystem path
python recruitment
python job runner
athena stack review
bank of america developer jobs
wawa citi
jp morgan code for good
bank of america backend development
better-sqlite3
k8s alert
custom application development
“python software house”
efinancialcareers investment banking
atypical wikipedia
efinancialcareers jp morgan
efinancialcareers news
efinancial career news
efinancialcareers usa
python to golang
white label saas
strats goldman sachs
“efinancialcareers”
python in investment banking
the strange house – wikipedia
python wikipedia
efinancialcareers
reddit learnpython
hcmc forum
python language wikipedia
goldman sachs python developer
goldman sachs strats
goldman sachs front end developer
ms banks wikipedia
eztable
goldman sachs software engineer
jp morgan software engineer
citibank devops
ats keeps crashing
bank of america software developer
citi python
citibank python
paterson recruitment
goldman sachs devops
lynch syndrome wiki
fork language
citibank software development
citibank wawa
citibank microservices
hunter match in banking
citibank wikipedia
goldman sachs java developer
internal mobility goldman sachs
ui grid cell template
citibank kubernetes
citibank software engineering
hacker news status
microsoft partner technology strategist
python for investment banking
secret veneers trustpilot
veneers amazon
goldman recruitment
goldman sachs data scientist jobs
hot topic grand forks
home security systems paterson
david frame jp morgan
wiki ennui
mainsource bank locations
wawa ratings
python developer jobs london
quartz lumps
excel sheet locked by me
hire perl developers
house python code
linkedin assessment python
python kubernetes client
redfox finance
the fork app
cloud computing essay
python developer no experience
athena tan
python a*
quirks jobs
strats finance
bank of america el segundo
citibank offshore banking
python jobs no experience
python developer job
python teams message
excel for investment banking
given number is strong or not in python
lynch and paterson
ennui protection
citibank ho chi minh
investment banking excel
hacker news search
athena technology group
foreach python
mainsource bank review
su shee
technology investment banking interview
saas instruments
bank of america business development jobs
full-time perl developer vacatures
chi-x jp morgan
web developer grand forks
fork c++
custom vision python
e commerce financial model template
python /a
systemd restart never
bank of america data science jobs
all in python
kubernetes python client
python developer
top tech investment banks
white label review software
financial app development company
python mobile app development
Rate this post
Content writer

Let’s create the next big thing together!

Coming together is a beginning. Keeping together is progress. Working together is success.

Let’s talk

Get a custom Proposal

Please fill in your information and your need to get a suitable solution.

    You need to enter your email to download

      Success. Downloading...