...a new way to think experimental finance
A quick overview
About the project JessX...
The main goal
JessX Project's main goal is to create an open-source program simulating a financial market. Researchers and teachers related to Finance may find it helpful in their work. The programm will allow a dozen people (or more), called "players", to interact on a artificial market place, similar to Euronext, NASDAQ, or even NYSE. The players will be able to sell and purchase various types of financial assets, such as stocks, currencies, commodities, derivatives, etc.
Why is JessX innovating ?
It's major advantage compared with other software of artificial financial markets is the possibility, for the researcher managing the simulation, to send messages to the players, and/or manipulating asymmetric signals. It means that only some players will receive these messages, giving them more information about the market and influencing their behavior on the market. Another innovating aspects is the quantity of "tools" recreating a true stock exchange. For instance, different types of orders are allowed : Limit Orders, Best Limit Orders, Market Orders. Let's not forget its user-friendly aspect which eases and improves the researcher's work. The two main interfaces (Server and Client) we have developed are very intuitive, for the researchers and for the players as well. Last but not least, JessX includes analysis tools, such as graphs and tables. During and after the simulations, JessX will also export the data provided by the experiments, so that it will be easily processed in a spreadsheet program (like Gnumeric, OOo Calc or Microsoft Excel).
Where can I find it ?
You can download it in the Downloads section. JessX is available under the GNU/GPL license The main program is available. You will be given the binaries and the sources of the program. Of course you have the right to contribute to the development of the program since you mention its first developers (us!). Best of all, it is completely free.
Latest news...
23/05/06 - A new project team will carry on the developpement of JessX.
The second team is now relayed by another team of developpers. They will take over project JessX, trying to enable sessions not only on small networks, but throught the Internet. These sessions with a lot of participants could be very intersting for the research.
18/05/06 - Release of the version JessX 1.0 and great changes on the web site.
After three years of work, we have arrived at a great version of JessX, reliable, stable, and with a lot of useful functions... The second project members give you their final release : JessX 1.0. Go to the download section to try this version.
02/05/06 - Change of the name of the software.
We have changed the name of our software from jESSE into JessX, also indicating that it is Java Experimental Simulated Stock eXchange.
30/04/06 - Development of JessX will be carried on in May.
After the 2-week spring break, the team TRADING continues to develop JessX. New functions will be added and a stable version will be released on the website very soon. We are confident to offer you a pretty good software for Experimental finance research at the end of May.
01/04/06 - A new version of JessX is available on the site. (Now deleted)
The new version of JessX is available on the net. However, please avoid long sessions with too many players so that it is stable enough. It will be corrected by the optimizations very soon.
25/02/06 - Successful experiment at IAE, University of Lille 1.
The session was launched by our partner Prof. Olivier Brandouy at IAE, Univ. Lille 1. It turned out to be a success. About 16 students participated in this experiment. The software went on stably. But it also needed some improvement.
22/09/05 - A new team to carry on JessX's development
JessX's development has taken up again since the beginning of fall. We are improving the stability of JessX in order to develop new features which will be available soon. The work accomplished by the previous team of developers is remarkable, but we are confident to give you more features and options that are useful for your research...
12/05/05 - New tutorial available
In order to make the installation of JessX and the setting of an experiment more practical, we have made a tutorial. We hope that it will be useful and will incite you to test our software at home.
07/05/05 - New features and new site content!
JessX's development is getting faster. Hence
a lot of new features and new things on this site. You will find here a lot of
brand-new screenshots. The client interface is almost finished and fully functional (it has been tested two times in real conditions).
See the work progress section to know more about the other new features recently implemented.
Moreover, XML log files collected during the past experiments are now available for download.