Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 1 Client Certification Using Shsha Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 2460, +1 415 830 38 49 www.exactpro.com Exactpro

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 2 Client Certification is a special kind of testing conducted to ensure the compatibility of automated trading systems connected to an exchange or broker via financial industry protocols • Client certification is mandatory for any operator of an exchange or broker platform providing an opportunity to perform financial transactions • Client certification has become a common practice in the financial industry Certification

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 3 Typical Challenges Certification testing involves representatives of different organizations. Therefore the process requires a substantial amount of coordination and teamwork Let’s go through some of the typical challenges that could be faced during client certification

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 4 Time Zones

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 5 The existence of world time zones causes difficulties with planning and coordination of testing by teams of professionals physically located in various parts of the globe Time Zones

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 6 Performance

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 7 Certification can be required by several clients concurrently due to business or technical events, such as the deployment of new software, regulatory or technical requirements Performance

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 8 Competency

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 9 Quality Assurance specialist conducting certification must have the adequate level of technical and business knowledge Competency

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 10 Coverage

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 11 Certification tests must be based on typical scenarios and produce meaningful results Coverage

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 12 What Could Help Us To Solve These Problems?

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 13 • Creation of more optimal automated technological solutions for certification testing and the analysis of test results • Usage of passive methods to analyze the success of certification procedure, such as traffic capture of network connections or data from log files In our opinion, the process of client certification can benefit from the inclusion of passive testing in it. What Could Help Us To Solve These Problems?

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 14 Passive Testing Passive testing is a software testing technique that observes the system without interaction Passive test tool does not affect the system under test and does not create additional message streams

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 15 Meet Shsha! • Passive post-transactional tool • Supports various industry-standard and proprietary protocols • Analyzes clients' activity and forecasts system response • Parses and displays logs in a user-friendly way • Parses messages and then puts each to a database table where each column corresponds to each message field • Can process massive amounts of heterogeneous clients connections data • Allows making summarized reports, etc. • Easy to understand GUI

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 16 Shsha Operating Model

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 17 • Shsha captures all messages sent to the exchange by the client or vice versa, parses each message and puts the data into a relational database. • By using SQL queries, the certifying organization's analyst can receive the statistics about the attempts to perform the steps in the test scenario and their success for every trading participant. • Network packets data also allows finding additional problems, such as connectivity breaks or message buffering issues. Shsha Operating Model

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 18 Shsha: Time Zones It’s easy to plan and coordinate testing process in different time zones having a passive tool which stores all the required information in the database and is accessible any time around the clock.

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 19 As a passive tool, Shsha does not affect the system under test and does not create additional message streams Shsha: Performance

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 20 The trading participants can just connect to the test environment and send the orders listed in the provided test scenario. There’s no need to install any additional software, collect logs, etc. Shsha: Competency

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 21 Shsha provides built-in groups of SQL scenarios covering all client connectivity certification requirements issued by the trading coordinator for a number of exchange platforms Shsha: Coverage

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 22 Reporting

Open Access Quality Assurance & Related Software Development for Financial Markets Tel: +7 495 640 24 60 , +1 415 830 38 49 www.exactpro.com 23 Thank You!