ultimate cheat sheet for fix protocol testing

The ultimate cheat Sheet for FIX Protocol Testing

Automating the expensive and error-prone process of manually testing trading systems will reduce the dependencies on counterparty test environments, and It enables trading firms to quickly simulate trade scenarios, which impacts the firms to realize the trading system’s reliability and efficiencies before going live with complex environments. What’s required is the ability to maintain and test on an organization’s scale; to create an error-free infrastructure while reducing the cost and improving the operational efficiency.

This ultimate cheat guide can help you understand learn more about how to overcome the trading Infrastructure challenges and to benefit from its business advantages.

Category The ultimate cheat sheet Challenges in Market
Platform Independent Should have been developed using Java to run on all platforms Some of the products are built on specific platform which will only works on few operating systems such as Windows, Linux etc.
Compatibility Need to be platform independent and support all operating system Web based application might experience platform or browser compatibility issues
Performance Test huge volume of data across multiple connectivity Web based application may lower system performance as they cost more bandwidth usage
Security Data are highly secured as it is stored within the systems. SSL-based encryption Security concerns, if data is stored and hosted outside premises and vulnerable to attack for web based applications
Internet Reliability Should work on both offline and online Web based application relies internet connections
Product Modularization Validation, Monitoring & Onboarding can be added within the testing suite Separate software to be purchased for each modules
Existing test case Should have a feature to import existing test case No such provision provided to import existing data
Configuration Should be easy to configure, customize with rich user interface templates Customization is time consuming
Multi-Protocol Supportive Supports multiple protocol such as FIX, FAST, ITCH & OUCH, EMAPI etc. and any new protocol can also be added in future Most of the suites supports only FIX with limited version (upto 5.0)
Bundled Package PTS comes as a bundle package where the price includes Implementation, Configuration and Support Separate price to be paid for Implementation. Configuration and Support
FIX Connectivity Establishes a network connection and manages FIX session layer
Throughout Deployment Comprehensive end to end testing Module testing with third-party support
Validating FIX Connections Extensive Business level validations Not much pre-defined test cases available to perform business level validations
Value-added features Import/Export functionality Restricted feature access
Process Automation Test script automation
Customization as per user User based customization & Customizable Reports as per client requirements

Today’s critical regulation-based trading scenarios, the best implementation of FIX protocol testing is required to reduce the dependencies on counterparty test environments to create an optimum risk averting environment at the lowest operational cost.

This checklist will give you a comprehensive understanding on the capabilities & must have for the complete FIX protocol testing scenarios and infrastructure validations. To reduce the cost associated with the development and deployment of electronic trading systems and gateways, reach us

See Also:

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