Software testing requirements for trading systems mandate mandatory exchange testing, auditor certification, approval and non-discriminatory API sharing. Stock exchanges must implement a mandatory testing framework for trading and risk management software including simulated test environments, regular mock trading sessions with mandatory participation by all algo-enabled user-ids, and User Acceptance Testing; brokers must obtain system auditor certification of tests, seek exchange approval with required documentation prior to deployment, ensure auditors are certified and conflict-free, provide undertakings accepting liability for non-compliance, and exchanges must share APIs non-discriminatorily, enforce penalties for malfunctions and adopt necessary bye-law amendments.
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Software testing requirements for trading systems mandate mandatory exchange testing, auditor certification, approval and non-discriminatory API sharing.
Stock exchanges must implement a mandatory testing framework for trading and risk management software including simulated test environments, regular mock trading sessions with mandatory participation by all algo-enabled user-ids, and User Acceptance Testing; brokers must obtain system auditor certification of tests, seek exchange approval with required documentation prior to deployment, ensure auditors are certified and conflict-free, provide undertakings accepting liability for non-compliance, and exchanges must share APIs non-discriminatorily, enforce penalties for malfunctions and adopt necessary bye-law amendments.
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