Loading...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
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