How to Test Trading Platforms in the Right Way?
Trading platforms or applications cater the need to perform trading in an easy and secured way. It allows quick access of various trading options, including opening, closing, and managing market positions. It includes multiple users accessing multiple products, thus generating huge traffic.
However, to ensure effective trading with high traffic it is required to keep low latency throughput. This is quite challenging, especially when new strategies for trading and payment are continuously increasing, resulting in huge amounts of data. In addition, the complex rules employed in purchasing and selling have made it more difficult. Moreover, with advancement in technology, automated trading has evolved that allows round the clock trading, which has further added to the complexity.
This has led to the need for testing trading systems. However, there are many more reasons why testing such platforms is imminent.
Why Test Trading Platforms?
Data accuracy is very important to avoid any loss while processing huge amount of data. In order to keep the process flawless and trading efficient, it is important to perform testing on such platforms. A well-tested platform helps in efficient functioning in real-time and restoring client’s faith. However, there are a few challenges involved while testing such systems.
- To develop real time trading scenarios.
- Technical challenges due to interface gateways.
- Challenges arising due to multiple users using multiple systems, interfaces, and gateways.
- Managing multiple APIs.
- Performance issues related to network and latency.
- Compliance and 3rd party application issues.
In addition, there are other challenges associated with business models, rules, and requirements.
Testing Trading Systems
You can perform a number of tests on trading platforms, including performance, functional, interface, and more. They help in evaluating the overall functionality and performance of the trading platform. Smoke test is the key to test trading applications, especially for real time complex transactions. In order to test each functionality, you must create unit test cases. In case a new functionality gets added, regression testing can help ensure seamless trading. Interface testing is another key test to ensure the quality of software products. It focuses on the accuracy of data and interface. All threats and vulnerabilities are identified through security testing. Performance testing also plays a major role by testing the main application, subsystems, and interfaces connecting the subsystems.
You can evaluate simple ideas by applying and verifying old data to the trading system. This is called Back testing. It helps in analyzing the behavior of data during a specified time.