OCaml

OCaml is the language used by Jane Street, the quantitative market making firm that last year paid its lucky graduate trainees a $200k annual base salary, plus a $100k sign-on bonus, plus a $100k-$150k guaranteed performance bonus. Jane Street's revenues in the first quarter alone of 2020 were greater than Citadel Securities' for the entire year. 

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The coding language used by the most elite developers in finance

efinancialcareers.com

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If you're learning a coding language with a view to becoming employable in a technology role in financial services, should you choose something like Python , which is well-used across the industry, or should you go for something a little more obscure?

A Substack blog post  at the weekend argued for the obscurity route. We've already looked at the value of languages like K and Q for finance jobs, but there's also merit to learning functional programming languages like Clojure, F#, Scala, Elixir, and...OCaml.

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Maybe this doesn't matter. Minksy explains that Jane Street's rationale for using OCaml is partly based on the "Python Paradox" posited in the early days of Python by YCombinator founder, Paul Graham. This says that: “If a company chooses to write its software in a comparatively esoteric language, they'll be able to hire better programmers, because they'll attract only those who cared enough to learn it.”

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Top 7 Programming Languages for Fintech and Finance in 2021

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Students are set up to fail

The growing popularity of coding has led to an increase in coding schools and online boot camps. The schools are designed to produce students who have a working knowledge of software development and are ideally hireable.

But this crash-course approach doesn't necessarily equip aspiring developers with the skills or experience they need. Universities and software certificate programs also don't teach the skills employers value and expect.

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The way we teach coding is all wrong. Here's how it needs to change

techrepublic.com

  • Python is a general-purpose, object-oriented programming language.
  • It emphasises code readability by using white space.
  • It is easy to learn.
  • It is a favourite of programmers and developers.
  • Python is very well suited for use in machine learning at a large scale.
  • Its suite of specialised deep learning and machine learning libraries includes tools like scikit-learn, Keras and TensorFlow. It enables data scientists to develop sophisticated data models that plug directly into a production system.

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Python vs. R: What’s the Difference?

ibm.com