Thomson Reuters today announced that the latest version of its Client Simulator, 9.1, will support the recently approved FIXatdl Version 1.1, introduced to help meet the development needs of the ever expanding number of proprietary algorithmic trading strategies.
Client Simulator is a fully-featured testing tool used by broker/dealers and other vendors of FIX-based systems for rigorous testing of inbound FIX order flow, a crucial stage in testing algorithms before they get deployed in a live environment.
Broker/dealers using Client Simulator can instantly test their strategy schema files to ensure correct validation and processing of algorithmic order flow without involving their clients.
Client Simulator offers the ability to easily create multiple unique test scenarios, correlated with market data, and validate internal order management systems against exchange compatibility. Developers, QA, and support teams are empowered with greater control in application testing, and are able to meet the much needed quick-time to market requirement necessary to compete in today's markets.
Rick Labs, Co-Chair of the FIX Protocol Algorithmic Trading Working Group commented; "FIXatdl allows sell side algo providers to position their latest strategies onto buy side systems, often in minutes instead of months, all without reprogramming. This type of high speed, 'go right to market' environment coupled with the ability to comprehensively test system performance under varying loads, is of paramount importance. Robust FIXatdl testing tools like Client Simulator gives broker/dealers the confidence that their latest algo strategies can be deployed quickly, and the resulting inbound FIXatdl generated order flow will not pose any systemic risk on downstream execution infrastructure."
Client Simulator processes FIXatdl formatted algorithm definitions and parameters, displaying the appropriate user interface, applying validation rules, and generating the appropriate FIX tags and message flows.
Yechezkel Khayyat, Manager of FIX Testing Solutions, Thomson Reuters said; "One of the key benefits of our Client Simulator is that it allows customers to simulate and test algo strategy order workflow using thee latest version of FIXatdl themselves without involving the client. Sell side institutions developing FIXatdl schema files can independently verify the presentation, validation, and message flow. This will improve the efficiency of their algorithm development process and the quality of their strategy files."
Thomson Reuters acquired Client Simulator in its February 2010 acquisition of the business and assets of Aegisoft, LLC and is rapidly moving to expand and enhance its offerings. Client Simulator is a comprehensive FIX-based testing solutions tool, designed to test across the entire trade lifecycle, and has long been the choice of broker-dealers for automated, regression, interactive and performance testing of order management systems. Version 9.1 containing FIXatdl 1.1 support will be available in April, however, beta copies are now available for qualified customers.