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The final option is significantly more “techie” than the previous ones.

SQL calls from Excel to a database involve either embedding SQL code into Excel’s VBA, or purchasing an add-in that gives you a graphical interface to do the same thing. This is the best solution if you have access to a real time pricing database and you need to run Excel models very quickly during the trading session.

Only a sophisticated technical trader or institutional trading desk is likely to need this capability. Traders at this level tend to implement their models in dedicated trading software rather than Excel, especially for exchange-traded products. However, Excel is still used prevalently in credit, arbitrage, and structured product trading with SQL calls to a central database.

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