FIX Simulation Engine

Financial technology firm develops a simulation engine to help them test their trading platform before interconnecting it with financial institutions.

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About Client

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.

Bio

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 this connectivity could be established, the trading platform had to be tested for the correct implementation and compliance of securities exchange rules.

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The Solution

GoodCore developed a FIX engine that simulates the behaviour 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 behaviour 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, enabling them to identify errors in trading connectivity and take suitable corrective actions.

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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 the Financial Information eXchange (FIX) Protocol

The 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 and Bootstrap
  • Desktop simulation application
  • Highly secure software architecture and design
  • MVC architecture using the .NET MVC 4 framework
  • Integration with different systems

Testing & Launch

  • White box and black box testing
  • Launch on staging and live environments
  • Post-launch testing, support, and enhancements

Technologies Used

SQL

microsoft

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