A PaineWebber Mortgage Trading Group Taps S-Plus; Analysis Package Bumps Excel
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Mortgage-backed securities and derivatives traders at PaineWebber have begun using S-Plus 3.4 for Unix, an object-oriented data visualization and analysis package from Cambridge, Mass.-based Mathsoft. Traders at the firm are using the software to run CMO prepayment models, as well as bond pricing and risk models to track the desk's exposure. In addition, the firm is currently developing models for options pricing. For the mortgage traders, S-Plus replaces Microsoft's Excel spreadsheet-based
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