Exchange Simulator is designed for use by developers, quality assurance and production support personnel, functioning as an ‘in house’ destination for simulated order processing and crossing.
The software currently simulates dozens of domestic and international trading destinations, including Nasdaq, the New York Stock Exchange (NYSE) and Euronext, with full support for the underlying protocols such as FIX, CMS and XML. For version 7.0, Aegis has added support for the Common Customer Gateway (CCG) message format, NYSE’s new order entry interface, which is set to replace existing CMS connections by the end of 2007.
RegNMS compliance features have also been added, allowing tests to be repeated with deterministic data at all destinations. Exchange Simulator can now publish its book back to the user’s OMS, to provide feedback for trading and routing logic. The product now also has many real-world error scenarios to help verify failover and recovery procedures.
With RegNMS compliance looming over the trading industry for two years, several firms have come to us with the dilemma of testing, enhancing, and upgrading their order management systems in order to handle high-volume market data while continuing to achieve best execution said Norm Friedman, vice president at Aegis Software. As a result, we’ve added a wide range of functional, regression, performance and exchange-compatibility test features to Exchange Simulator, providing our clients with ‘live’ interactive markets that manage and minimize the burden of achieving compliance.
Aegis Exchange Simulator is part of an integrated quality assurance suite, which includes Client Simulator for testing of inbound FIX order flow and T3 for overall end-to-end regression testing of trading infrastructures.
