A large Government Sponsored Entity uses Finastra’s FusionCapital Summit for Debts, Derivatives and Liquidity trade processing.
FusionCapital Summit is a cross-asset front-to-back solution specializing in derivatives and structured products for global investment banks.
Summit FT is a complex trading platform and has over 130 active clients globally. The current release is the accumulation of over 20 years of derivatives market experience and growth.
The client had a long test cycle which is conducted by multiple QA Analysts. Testing was manually intensive, long, error prone and costly.
Attempts were made towards an automated solution but was abandoned when proved unstable and unreliable. Marquis was asked to provide a solution.
Marquis built an automated test harness using its flagship testing framework, MARS, to expedite error detection. As a result, much less human power was required to identify issues. Human effort was repurposed to troubleshooting and remediation of defects.
The framework performed functional regression testing of the Summit User Interface and, with added Java driven engines, performs non-functional regression of key table database tables (such as dmPOSTINGEVENTS, dmASSET, dmENVELOP), extracts, documents (such as Wires, Inception, Advices, etc.) and reports (such as Expected Payments, PLUPD, etc.)
Marquis' test automation framework tremendously expedited the test cycle allowing for fast error detection and troubleshooting. The end-to-end test cycle, comprising functional testing of the GUI and non-functional testing of key components, was reduced from six weeks to one week. A team of three analysts took three weeks to compile the nearly 1000 test case using the user-friendly framework.
The framework design allows for distributed test execution. With this the harness was divided by asset class and parallel execution of test cases. The test execution time for entire harness of approximately 800 functional test cases took approximately twenty hours.
"Marquis built a robust framework around the prior production release of Summit FT. The test harness from this release formed the baseline for regression testing of the target version of Summit FT. With minimal update to the framework, the execution of the test harness for the target version was done in record time."
A large Wealth Management Company using two instances of their Trading System for front-to-back processing of Interest Rate Derivatives and Fixed Income Securities and Repurchases.
Customer needed to consolidate on a single instance of Trading but in order to do so one instance needed to be upgraded followed by a merging of both instances.
In prior upgrade customer experienced long test cycles, which were conducted by multiple QA Analysts. Testing was manually intensive, long, error prone and costly.
Developed scripts and utilities to export, validate, consolidate and import data into the parent system.
Built Automation Test Scripts containing a total of 16,000 Test Steps (~600 Test Cases), covering:
A large financial services company with over a trillion USD in Asset Under Management, had a requirement to implement SOFR index into their Trading and Risk Management System.
A new benchmark reference rate, the Secured Overnight Financing Rate (SOFR), is positioned to transform USD based financial markets, marking a transition from the London Interbank Offered Rate (LIBOR). Company embarked on initiative to enable Summit FT for derivatives trading on the SOFR Index and to convert the discounting index from LIBOR to SOFR for existing derivatives portfolio.
Marquis used the following phased approach for the SOFR enablement: