Thursday February 15, 8:07 am Eastern Time
SciComp Inc. Receives Patent for Groundbreaking SciFinance
Software Synthesis Company Patents Unique Technology for Automatically Generating Source Code
AUSTIN, Texas, Feb. 15 /PRNewswire/ -- SciComp Inc. has been issued U.S.
patent number 6,173,276 for its SciFinance® software synthesis technology
for solving systems of partial differential equations for pricing complex
financial derivative products.
This technology, which transforms high-level problem descriptions into
executable source code, has the potential for solving problems in a wide range
of application areas, including finance, engineering, energy, electronics,
pharmaceuticals, and physics.
SciComp's flagship product, SciFinance, applies
this technology to the pricing of financial options using the Black-Scholes
and related equations of finance.
SciFinance is used by some of the world's
leading investment banks to quickly prototype and validate option pricing
models, as well as to generate production codes.
``We're elated to receive a patent,'' said Elaine Kant, president of
SciComp, ``not only because it protects the company's technology, but because
it validates the uniqueness of SciFinance.
Using software synthesis to
automatically generate source code has been proven in the financial
marketplace, but our technology is also applicable to other industries.''
With SciFinance, users provide a natural description of the financial and
mathematical features of their problem, optionally including solution
strategies, using a concise and easy-to-learn specification language called
ASPEN (Algorithm Specification Notation).
From a brief ASPEN specification
(typically a half page or less), the system generates thousands of lines of
code in C (or other target languages).
The ASPEN financial and mathematical constructs allow users to describe
systems of partial differential equations, using domain-specific keywords, as
ASPEN can also be used to describe stochastic differential
equations and standard algebraic equations.
The system then compares the
user's description with its knowledge base to refine the
problem -- identifying constraints, applying heuristics and defaults, and
applying elaboration rules.
SciFinance uses a planning process, computer algebra, and templates to
analyze and optimize the problem description, choose and customize data
structures, and generate pseudo-code.
The pseudo-code is translated into the
desired target language source code.
SciFinance-generated C code is efficient and well documented.
independently of SciFinance, either in standalone mode or embedded in the
user's spreadsheets or trading environment.
An optional component product,
SciXL(TM), automatically generates Microsoft® Excel spreadsheets and add-in
programs for the C code that SciFinance produces, enabling users to
immediately experiment with their pricing models.
Visit the website of the U.S. Patent & Trademark Office
( http://www.uspto.gov ) for additional information about the SciFinance
patent (number 6,173,276).
As the recognized leader in software synthesis, SciComp Inc. provides
automated pricing technology to the financial services industry.
products are used by some of the world's largest investment banks to decrease
the turnaround time for derivative model development.
http://www.scicomp.com or call 512-451-1050 for more information.
Stacy Formby, Director of Marketing Communications of SciComp
Inc., 512-451-1050, fax, 512-451-1622, email, email@example.com, or Web,
This release was issued through DigitalWork.com - Your Business Workshop
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