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August 11, 2008

Aegisoft Road Tests Orders

By James Ramage

Brokers have a new tool to help them ensure their trading systems can accept incoming buyside FIX-messages. Testing solutions maker Aegisoft developed Client Simulator 8.1 to help get FIX-based trading systems tested efficiently and ready for market faster.

It creates a testing environment in which brokers can simulate incoming buyside order flow and test their trading software against it. ECNs and exchanges can also use the tool, which is part of a suite of trading and testing solutions.

"If you're putting new features and functionalities in your order management system, you've got to test it before it goes into production and you start accepting order flow from your clients," said Steve Oppenheimer, director of marketing at New York-based Aegisoft. "You use a client simulator tool to aid in that cycle of reducing the overall development and QA lifecycle."

Client Simulator tests buyside inbound FIX equities orders, as well as FIX-based options, FX and futures orders.

"It's easier to do analysis if you have an automated tool in which you can then just run queries," Oppenheimer said. "And then it allows you to record and play back all these different tests. When you find any bugs, you have these de-bug tools."

Client Simulator supports FIX Algorithmic Trading Definition Language, Oppenheimer said, a language that defines a format for specifying the parameters for algorithms.

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