Our client is a financial technology and services provider that delivers front, middle and back office solutions to a wide array of financial firms, including hedge funds, private equity firms, asset managers, prime brokers and fund administrators in the U.S. market.

The Challenge

Our client wanted to interconnect their trading software with financial institutions using the FIX (Financial Information eXchange) protocol – the de facto standard for electronic connectivity between institutions. Before such a connectivity could be established, the trading platform had to be tested for the correct implementation and compliance of securities exchange rules.

The Solution

GoodCore developed a FIX engine that simulates the behavior of a stock exchange in near real time. Developing such a solution requires deep domain knowledge of the securities trading space and the nuances associated with electronic interconnectivity between financial trading institutions.

The software we developed supports a wide variety of instruments like Equities, Options, and advanced algorithmic trades. In addition, the software allows the use of “custom” FIX tags to be able to simulate non-standard trading behavior and exception handling.

We designed a web based front end to manage the rules of the simulation engine and view the results of test runs. This functionality was immensely useful for our client to identify errors in trading connectivity and take suitable corrective actions.

The Impact

The solution we developed simplified the process of FIX Protocol certification for our client and enabled them to reduce the time to market for their trading platform.

A note about Financial Information eXchange (FIX) Protocol

FIX Protocol is the standard protocol that allows electronic connectivity between trading institutions like stock exchanges, execution brokers, investment management firms, and banks. Trading institutions have to test their trading software with their trading partners to verify system compatibility. This process of testing is complex and time consuming. GoodCore’s team has years of experience developing software for the financial industry.

Highlights

Requirements Analysis

  • Business knowledge acquisition
  • Identifying the needs, expectations and goals of our customers
  • Conceptual and visual design
  • Risk Assessment
  • Proposal of solutions and workarounds for problematic scenarios

Design, Development & Technologies

  • Highly interactive front end using JQuery, bootstrap
  • Desktop simulation application
  • Highly secure software architecture and design
  • MVC architecture using .net MVC 4 Framework
  • Integration with different systems

Testing & Launch

  • White box & black box testing
  • Launch on Staging & Live Environments
  • Post Launch Testing, support and enhancements

Technologies Used