On November 20, 2019, at FINOS' flagship conference, the Open Source Strategy Forum, FINOS Platinum member Goldman Sachs announced its intention to open source two products - its internally developed modeling language, "PURE", and a visual modeling platform that generates PURE models known in Goldman Sachs as "Alloy" - into FINOS.
PURE is a modeling language inspired in part by languages such as the Object Constraint Language (OCL) and UML. PURE also has many elements of a functional programming language. Goldman Sachs uses PURE to create and construct internal models for functions such as pricing, risk assessment, reporting, clearing, and human resources.
Alloy is a visual modeling environment and system that creates, maintains, and helps distribute models built in PURE. Behind the scenes, Alloy uses git, (fellow FINOS member) Gitlab for its SDLC (software development lifecycle), and standard source control concepts to manage changes to, and reviews of, models. Alloy can also generate code in languages and formats such as SQL, JSON, JSON Schema (and, internally to Goldman Sachs, SLANG) in order to import and update target systems & infrastructure w/ revised model definitions/extensions.
The open sourcing of Alloy is happening in 3 phases:
For more details about the open sourcing roadmap, see the roadmap on the Alloy documentation site (alloy.finos.org). For more information about some of the motivations behind the decision to open source Alloy, see the press release from last November announcing Goldman Sachs' intention to open source Alloy into FINOS.
The first two areas that the pilot group will model will are:
Other areas that the pilot group have discussed as potential areas to model together in Alloy, either during the pilot or down the road, include Environmental, Social and Governance (ESG) data as well as potentially continuing some of the work started by the FINOS Financial Objects program on RFQ in the context of interest rate swaps.
The Goldman Sachs team has created an Alloy documentation site at alloy.finos.org.
Pierre de Belen, Managing Director and head of the Data Model Engineering team at Goldman Sachs gave a demo of Alloy during the FINOS Open Source Strategy Forum this past November. Click here to see that demo.
General meetings to deliver updates and present demos of Alloy, as well as answer questions, happen the third Thursday of each month at 9:00am ET / 14:00 UK. The next such general meeting is scheduled for August 20, 2020 (there is no July meeting -- happy summer!)
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Use the form below to ask any questions about Alloy you might have.