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Richard Bookstaber's book, A Demon of our own Design, discusses problems faced by major banks using relying on APL for their analytics. These included:
- difficulties implementing loops and recursive calculations, which made derivatives pricing difficult;
- a desire for concise 'one liners', which hindered debugging;
- mismatch between APL's calendar functions and the banks', which occasionally allowed in the money derivatives to expire unexercised.
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