Equiduct and Allied Testing announce today the successful completion of functional and performance testing of the Equiduct trading platform designed for the pan-European market.
The launch of trading services is scheduled for the first quarter of 2009.
The suite of state-of-the-art tools for functional and performance testing developed by Equiduct Systems in cooperation with Allied Testing, a leading specialist QA and testing firm, has allowed verification of system and business requirements; including Equiduct's HybridBook and PartnerEx trading segments, processing and consolidation of pan-European reference market data, FIX 4.4 interfaces for trading and market data dissemination and clearing connectivity.
The Equiduct platform passed through multiple cycles of rigorous verification and has been deployed into the production environment. Given the complexity of the system under test, extensive test coverage could only be achieved by developing a sophisticated automated testing framework, which Equiduct achieved with the support of Allied Testing. In combination with well-defined standards in QA and testing this has allowed comprehensive testing of the Equiduct trading platform and a high degree of confidence in the correctness of the system.
"Equiduct's unique PartnerEx model, which guarantees pan-European best execution, in combination with HybridBook and OrangeVBBO offers unique opportunities to trading participants. The correctness of the platform must be guaranteed, and Allied Testing worked as an extension of Equiduct's in-house team to ensure that comprehensive testing was achieved," says Rob Brouwer, CIO, Equiduct.
"The effort invested into checking the system's functionality and performance with the help of the comprehensive test harness has allowed us to prove that Equiduct's HybridBook and PartnerEx, thanks to its low latency and high capacity, is ideal for satisfying the demands of the modern European trading landscape," says Iosif Itkin, Head of Performance Testing and Optimization Research Department at Allied Testing.
The Equiduct platform operated by Borse Berlin (a regulated market operator) is due to be launched as a pan-European market offering, thus allowing investment firms to quickly and cost-effectively meet their MiFID obligations and to provide the order-by-order best execution to their clients.