T r u s t t h e E x p e r t s

The complex weave of Capital Markets

From coffee shops, carrier pigeons through buttonwoods, telegraph poles and the frenzied brick and mortar stock exchanges of yesteryears, to the complex computer based virtual electronic trading screens of today, it has been a long and fascinating journey.

The winds of liberalization and globalization aided by the rapid growth of high speed communication networks over the past four decades, has further accelerated this transformation of capital markets to dizzying heights, notwithstanding the intervening bubbles and bursts. Corporates have access to international financial centers thereby increasing cross-border flows of funds and securities dramatically. Many new products have evolved and the shape and structure of capital markets is undergoing a paradigm shift. On the NYSE alone, the average daily trading value was 153 billion USD in 2008 and the market capitalization stood at almost 12 Trillion USD in 2010.

Adding to the scale and complexity, the landscape is witnessing an increased reliance on exchange traded products including certain OTC products like Interest Rate Swaps [IRS], Fx, etc. Risk management is being centralized at clearing corporations with OTC products being cleared through Central Clearing Parties (CCP). Electronic trading, high frequency trading, tick-by-tick data and low latency are made possible by cutting edge technologies. There is added pressure on achieving higher levels of Straight through Processing (STP) to reduce cycle times.

Today technology provides the competitive edge enabling an array of differentiated service offerings, with exchanges claiming response and transaction speeds in micro seconds. On one hand, when the world is shrinking into a unified global market, this makes the role of regulatory bodies, such as ASIC in Australia, AMF in France, BaFin in Germany, RBI/SEBI in India, FCA in UK, SEC in USA and many others, along with the attendant laws in the respective countries, ever more challenging in terms of Clearing and Settlement. On the other hand, it is becoming abundantly clear that the increasing reliance on technology and business assurance of such technologies alone could mitigate the emerging pain points and boost efficiencies

This underscores the imminent need for specialist testing services with relevant domain knowledge.

Disclaimer: All the documentation and other material contained herein is the property of Thinksoft Global Services and all intellectual property rights in and to the same are owned by Thinksoft Global Services. You shall not, unless previously authorized by Thinksoft Global Services in writing, copy, reproduce, market, license, lease or in any other way, dispose of, or utilize for profit, or exercise any ownership rights over the same. In no event, unless required by applicable law or agreed to in writing, shall Thinksoft Global Services, or any person be liable for any loss, expense or damage, of any type or nature arising out of the use of, or inability to use any material contained herein. Any such material is provided “as is”, without warranty of any type or nature, either express or implied. All names, logos are used for identification purposes only and are trademarks or registered trademarks of their respective companies.

T r u s t t h e E x p e r t s

About UsThinksoft Global Services is an independent Business Assurance and Testing Specialist specifically focused on the financial sector and with a global presence in APAC, the USA, Europe, Middle East and India. With a track record of over 14 million person hours in testing, Thinksoft has delivery centers in Chennai and Mumbai, supported by local offices in Bengaluru, New York, London, Dubai, Singapore, Brussels and Sydney. Thinksoft is ISO 9001:2008 and ISO 27001:2005 certified and its offshore test center at Chennai, India, is PCI:DSS compliant according to industry standards.

For more details visit, www.thinksoftglobal.com

Competencies on offerWith a wide range of competencies in testing various applications across the entire trade life cycle, in various functional areas, Thinksoft Global Services Ltd (TGSL) is well placed to provide a whole gamut of services suited to Capital Markets.

Asset classes addressed

• Equity {Exchange Traded Fund (ETF), and Securities Lending & Borrowing}• Derivatives (Futures & Options)• Commodities (Inclusive of Implied order)• Fixed Income• Money Market• Interest Rate Derivatives• Forex• Structured Products

Domain Focus

• Requirement Assurance• Financial Calculators {Ex. Limits Calculator, Indicative Opening price (IOP) calculators, Brokerage and Commission Calculator, etc}• RBT: Risk Based Testing

Accelerators

• Ready to use Test Repositories of Scenarios, Functions, Sub Functions, Conditions and Cases for many Capital Market Segments.

• Testing Center of Excellence (TCoE) Framework and Implementation Model• Risk Prioritization Matrix

• Neat, Neat +, Neat Pro• Leading capital market solution provider - FO&Clg. & Settlement Systems• Syn~• Stars• NSDL-DPM• Miles- MoneyWare FundWare• AG | Capital• Eurex• ACE Trader (Commoditles)• OFIS • EMC Captiva• EMC Documentum• APX.MOXY & TRADEX• FIdessa Latentzero Capstone Sentinel• Hi Portfolio (DST Global)•

Applications Tested

Automation

• ARTEMIS: The TGSL test automation framework• PAVE: Parameter Verification Tool• SPEAR: Methodology for Performance Testing

Familiar message formats

• FIX (Financial Information Exchange)• SWIFT (Society for Worldwide Interbank Financial Telecommunication)• Proprietary Messages

Projects

TGSL has tested the above asset classes across various types of projects:

• Business Requirements Specifications Preparation• System Integration testing• User acceptance testing• Regression testing• Automation & Non Functional testing

• Stock /Derivatives/Commodity Exchange – Domestic and International• Capital Market Product Companies• Leading Global Brokerages• Clearing and Settlement firms• Registrar and Transfer Agency• Depositories• Asset Management Companies• Wealth Management Firms

Track record

The TGSL advantage

Client Speak

Project Manager (A leading European Stock Exchange)

During test preparation and execution, the Thinksoft team raised a huge number of issues that helped significantly to improve the software in their area of responsibility. They always discussed the findings with superiors and team colleagues in an appropriate way ensuring a high quality of issues raised and making them one of the most successful contributing teams.

TGSL’s Capital Market clientele includes