The new global industry standard for best-in-class testing of algorithmic execution regulatory compliance
Delivering the Full Realism of Interactive Global Markets on a Single Platform
Full replication of all of the matching logic, behaviors, protocols, orders and market data streams of the world’s exchanges as the first platform to place the full global trading ecosystem at your fingertips, 24/7.
The Quantum Platform
Quantum’s new platform creates a new industry standard for testing that meets all of these new demands and for less cost than any firm could create on their own. This affordable testing platform meets the operational requirements from several User Types at financial institutions, exchanges and algo/technology providers via a painless installation that scales quickly and easily.
Highly Realistic Exchange Replication
Quantum test venues are, by design, indistinguishable from the real exchange by the market participant’s trading systems and infrastructure using the platform. Quantum fully replicates the venue’s order entry pathway, including order gateways, order types, and specific venue protocols, so integration is plug-and-play and costs are minimized for client systems already configured for live exchanges.
Quantum’s exchange modules replicate the matching engine logic of the real venues via full depth order books that automatically adjust to scale horizontally within each instance of the matching engines.
Overall, Quantum is designed to scale into any order-driven markets as we continue to add more equities, derivatives, FX, cryptocurrency, and order-driven fixed income venues onto the platform.
Market Data Sourcing & Archives
For every test exchange on the platform, Quantum sources years of historical market data (Pcaps) from market data providers (e.g. ICE Data), exchanges, or the client themselves. Quantum converts this data using a proprietary process into historical order flows and synchronizes these flows into customized streams for any given day based on each test and user.
Order streams are stored centrally in the Quantum cloud, while clients recieve their own repositories based on their storage requirements and market data sourcing agreements.
Customizable Client Tuning for Higher Realism
Market participants require the ability to tune their testing environments to increase market realism relative to each market participant’s market experiences, and Quantum offers multiple configuration capabilities for customized, user-specific, customer-enabled self-tuning.
Examples of venue tuning modules measuring or testing execution quality include latency tuning (replicating physical latency to Exchanges) and execution impact tuning (replicating market movements associated with market participant’s user orders impacting historical pricing). Examples of venue tuning modules for execution process performance include operational scenario tuning (replicating external/internal systems errors to test operational impacts);
Tuning module changes can be saved/reused/linked to test definitions by users via libraries, and third-parties can develop library packages to sell to Market participant.
Customizable Buy-side Client Proxy
Quantum provides a client-controllable application as a customizable proxy for a “buyside client” to assist with black box or onboarding testing. This proxy buyside test client can be onboarded by Quantum clients and can generate or pass new test orders, stage test markets, assist in regulatory tests, and control order stream customizations.
Regulatory/Compliance Automation Module
The Regulatory/Compliance module is a complementary platform integrated with Quantum’s core testing platform. This regulatory module is comprised of applications that collectively define and automate regulatory testing using Quantum’s exchange ecosystem.
Tests created from Quantum’s proprietary rules matrix informs automated test packages which can set up and run regulatory tests and then validate collected test data based regulatory rule parameters provided by Quantum and/or the customer.
Easy to Use Control Interface and API
All functions of the Quantum system are controlled via messaging API, enabled either programmatically for automated control or via a secure browser-based interface. The browser interface enables non-technical users to create, run, and analyze tests with ease.
Powerful Test Data Capture & Analytics
Quantum collects significantly more public and proprietary test data than customers can access today, whether the focus is performance, operations, or regulatory testing.
Accurate simulation of a complex, multi-venue execution environment is difficult for many market participants relying on analytical shortcuts that offer misleading market behaviors. Over-estimations of performance and over-estimations of cost often result.
Historical market data, derived order streams, test configurations, detailed test results and logs, detailed agent logs, and market-wide snapshots across all active venues at points of key activity for multi-venue TCA analysis. Continuous real-time “side-by-side” simulations make using Quantum more efficient as well as more precise and illuminating.
Data produced by Quantum tests is archived and available for replay or download, while regulatory test results can be digitally signed and stored to affirm internal/external compliance and facilitate faster audits with regulators.
Rapid Installation with Best-in-Class Support
Quantum has engineered its platform to be easy to install and connect to client infrastructure, whether in the client’s private cloud or on-premises in its data center. Designed to minimize changes to client workflows and easily automated via our client control API, Quantum’s platform is supported by our partnerships with globally-renowned technology providers in financial markets, creating a seamless and quick installation experience with local help ready as needed.
Learn how Quantum can help your business deliver best-in-class execution services through best-in-class testing
Speak with a Quantum platform expert to see how we can help you today!