Python has emerged as one of the most widely used programming languages for the financial sector, used in applications ranging from risk management to cryptocurrency. It is a great tool for researchers, analysts, and traders because of its simplicity and powerful modelling capabilities.
According to the HackerRank 2018 Developer Skills, Python is one of the top three languages used in the financial services industry, according to the report. Python still seems to be one of the most demanded languages in the banking sector in 2020.
According to IIQF, the number of positions in the financial sector that mention Python has almost tripled over the past two years. Companies like Citigroup now provide financial analysts and traders with Python programming for finance coding classes as part of their continuing education program. According to Lee Waite, CEO of Citigroup Holdings, "We're moving more quickly into this world." He also added, "At the very least, knowing how to code seems useful."
One of the most popular programming languages in the banking sector is still Python.
Uses of Python in Finance:
- Python handles and analyses large datasets, including financial data.
- Conduct a thorough investment analysis. Determine the risk and return of investment portfolios.
- Use regression analysis, both univariate and multivariate.
- Learn how to value options using the Black-Scholes formula.
- Pandas and numpy make large financial data analysis easier and more accessible.
- Create sophisticated visualizations with libraries such as matplotlib and seaborn.
- Python is a high-level programming language used in a variety of domains and technical fields
Sypder is one of the tools IIQF uses to run our code for data mining. You can use Jupyter similarly for the same purpose. You can also run it from a terminal, compile it, and use any editor.
Python already comes with a large set of libraries that extend the basic interpreter in various ways, such as basic mathematical calculations that can be done without importing, whereas more complex mathematical functions must be imported via the math library.
Python is :
- Open source
- Garbage collecting
- Indentation aware
- Dynamically typed
- Cross-platform
- Multipurpose
- Multiparadigm
- Interpreted
If someone is looking for Python for finance course then they can consider IIQF. But before enrolling in the course one should check the Indian Institute of Quantitative Finance reviews online.
Comments