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Re: Exchange Test platforms
Steven Santivenere / Aegis Software
14 Dec 2004 3:55PM ET
> Having access to a reliable exchange test platforms for all trading
> activities, is a real challenge. We are at the mercy of the exchange to
> provide a reliable,fully automated test servers.
> Client's system that works on exchange test platform may not work in
> their production environment because the rules/validations and the
> version of software running on test are often different from production.
> Also, the test servers are not completely automated. It requires manual
> intervention from tech support to test certain test cases.(simple cases
> like getting partial fills , UR OUTs etc. - not kidding)
> Here are the typical problems with Exchange test environments:
> - Lack of proper test beds for clients - Often find
> ourselves in dev servers
> - Test servers are not close to production environment
> in most cases
> - Minimal support for test servers
> - Lack of test scripts to test different scenarios of
> order execution
> - Availability of test environment - Never available and
> requires advance notice to get access to test
> platforms - Can not test emergency fixes
> - Requires manual intervention on Exchange end to
> replicate certain scenarios
> - Test servers are not automatic at all
> - Do not allow regression testing
> What does it take for an exchange to provide a real test environment,
> which is completely automatic, always available and reliable that mimics
> their production platform ? Is it competetion or technology ?
> I think its competition !
> Exchanges are too lazy to enhance their systems and their customers are
> not going anywhere. Their help desk is a joke - it took an exchange
> help desk about 10min to track down an order in production(I don't want
> to name the exchange here) - just tells you what kind of systems they
> have in place.
> There are few vendors out there supporting testing platforms for FIX/CMS
> protocols but not Exchange specific protocol extensions. Also, they
> don't support market making,trade match/allocations etc.
> What we should have is product(an open source is nice) which provides a
> simulation environment for all ECN's/Exchanges supporting all exchange
> interfaces(FIX or CMS or native API) for order flow/market making/trade
> match/price feed etc - A one stop shop for testing all trading related
> activities on major exchanges.
> The following features would be fine:
> - Support for all exchange APIs - FIX/CMS/native/Socket etc.
> - Access to test platforms of all major exchanges for the
> following purposes: Equity/Derivative Order Entry (FIX/CMS
> etc.), Remote Market Making,Autoexecs, Trade executions etc.
> - Tests beds that mimic production environment
> - Allow regression testing
> - 24X7 availability
> - Technical support
> - Support to at least 2 production versions
> Any ideas of such product?
Aegis Software's Exchange Simulator supports the specific functionality you are looking for and is currently running in about four dozen of the biggest buy and sell-side firms in the industry. For additional information, feel free to visit our website at www.aegisoft.com and contact me offline to discuss.
Re: Exchange Test platforms
Steven Santivenere / Aegis Software 14 Dec 2004 3:55PM ET