Thetaris Releases Monte Carlo Toolbox for Excel

Munich-based Thetaris has announced the laucnh of Theta Suite XL, a Microsoft Excel toolkit designed specifically for Monte Carlo simulation.

The toolkit uses a proprietary coding language, ThetaML, to take the simulation outside of Excel's framework, reducing lag and slowdown inside the program itself. The software plugs in via the Excel Bridge, and simulations can be tested directly in the Thetaris Cloud.

"Microsoft Excel is a fantastic tool for the embedding of data sources and a great one for reporting," says Andreas Grau, CEO at Thetaris. "However it is not geared towards simulation models like Monte-Carlo. Here is where Theta Suite XL comes into play."

Monte Carlo methods are computational algorithms, relying on random sampling to generate results. Primarily used in financial services as a risk management tool, they can also be used for pricing, valuation and other compute-intensive processes.