Bear, Stearns & Co is using Aegis Software's Exchange Simulator and Client Simulator products to test the trading systems and VWAP engines used by its global FIX connectivity group.
Exchange Simulator allows developers, QA engineers and production support departments to verify trading systems against simulations of exchanges and ECNs including Nyse, Archipelago, Island, Instinet and ISE. Several exchanges can be run simultaneously and each user is able to have a virtual exchange.
The Client Simulator system mimics FIX connections coming into customer environments. The product features an interface for testing transactions as a client and operates as a virtual order entry system.
Aegis says its Client Simulator system allows users to follow transactions from beginning to end, with all associated FIX messages. The software creates test scripts that automatically verify a set of transactions. The system also allows support engineers to replay FIX logs in order to recreate client problems.
Norm Friedman, vice president, Aegis Software, says: "Bear Stearns' adoption of our products validates the proposition that a quality QA organisation must have powerful tools, easy-to-use interfaces and a high level of support."