Free guide on 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 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 testing scenarios and infrastructure validations. To reduce the cost associated with the development and deployment of electronic trading systems and gateways, reach us

Blog Thumbnail
Free guide on FIX Protocol Testing
Read Time
3
Posted Date
Insights Industry
Insights Solutions
  • 07 Feb, 2020
  • 3 Mins read

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 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 testing scenarios and infrastructure validations. To reduce the cost associated with the development and deployment of electronic trading systems and gateways, reach us

If you’re looking for technology enablement? Let us know.

Transform your business challenges into opportunity through innovation & technology. Reach us to schedule your appointment now.

By clicking on SUBMIT, you acknowledge having read our privacy notice.