February 29, 2000–Derivatives Expert 2 is an easy-to-use environment for exploring, prototyping, and testing financial models without the programming overhead of larger, less-integrated systems. It is designed for financial engineers, risk managers, quantitative analysts, or anyone interested in the pricing and analysis of derivative instruments. Rather than a set of fixed models of single financial products, Derivatives Expert is a toolkit whose elements can be combined and expanded by the user to model any arbitrary financial instrument. It is capable of complex financial analysis and engineering as applied to many exchange and Over-The-Counter (OTC) traded derivatives.

This update provides a suite of over four hundred functions for pricing exotic and standard options, bonds, mortgage-backed obligations, floaters, forwards, and swaps. Derivatives Expert is fully compatible with the latest version of Mathematica, the world’s leading technical computing software. Derivatives Expert can be linked to other Mathematica-based modules to give users additional functionality such as database-management capabilities and alternative interfaces such as Microsoft Excel.

Derivatives Expert includes extensive online documentation: a user’s guide, reference manual, and detailed programming examples. Developed and supported by Innova Financial Solutions, Derivatives Expert requires Mathematica 4 and is available for Windows 95/98/NT, Macintosh, and most Unix platforms. For more information about Derivatives Expert, visit http://www.wolfram.com/products/applications/derivatives.