[17 November 2022, London] – Exactpro, a leading software testing services provider for mission-critical financial market infrastructures, announces the successful completion of testing of the Repurchase Agreement (“Repo”) Market (“Market”) recently launched by the Astana International Exchange (“AIX”, “Exchange”).
Two years into the successful migration of their Nasdaq’s matching engine to the Amazon Web Services’ (AWS) cloud – also facilitated by Exactpro – AIX continues to deliver value to the investor community by diversifying its securities market portfolio.
To help increase the operational resilience of the Exchange's Repo Market and provide information on its quality, Exactpro used th2 – a Kubernetes-driven microservices framework for functional and non-functional testing. Leveraging a cloud-native solution equipped with a bespoke set of industry-proven test method capabilities has ensured swift test execution and extensive test coverage.
The testing scope spanned functional and non-functional testing (NFT) of the Market platform, including integration with the AIX CSD segment – powered by Avenir Technology – carrying out the settlement of repo trades. The non-functional testing included capacity and daily life cycle testing (verifying the Market’s reaction to short-term and prolonged increased transaction load injection, respectively), scalability, stress and latency testing for order entry and market data streams.
Valerii Tsoi, Chief Information Officer at AIX, commented: “AIX boasts a world-class trading infrastructure that investors from across Eurasia, as well as abroad, can benefit from in the safety of global regulatory compliance. We are known and recognised for our modern and innovative market approach: we continuously expand our partner banks network and services portfolio, which leads to new technology challenges to solve. We are thankful to see our long-term software testing services partner – Exactpro – accompany us in yet another ambitious endeavour.”
“AIX uses forward-thinking approaches to deliver superior quality to their stakeholders,” said Pavel Medvedev, Head of NFT, Exactpro. “The importance of factoring in non-functional testing when it comes to building cloud infrastructures cannot be overestimated. I believe that, by doing the testing, our team has made a valuable contribution to improving the resilience and scalability of the AWS-driven Repo Market. The complexity of a cloud-native architecture is not easy to match. Our team's domain expertise and reliance on th2 have made us well-equipped for achieving the goals set forward by AIX."
Astana International Exchange (AIX) was established in 2017 as part of the Astana International Financial Centre, AIFC. AIX’s mission is to develop the public equity and debt capital markets in Kazakhstan and the Central Asian region. AIX operates in the AIFC regulatory environment, a constitutionally separate jurisdiction within Kazakhstan, which is based on English common law principles. AIX is regulated by the Astana Financial Services Authority, an independent regulator established within the AIFC. AIX operates an industry standard trading system with T+2 settlement through an ecosystem of almost 30 and international trading members. AIX shareholders are: AIFC, GoldmanSachs, Shanghai Stock Exchange, Silk Road Fund and NASDAQ which provides AIX trading platform.
More details: www.aix.kz
Exactpro is an independent software testing services provider for financial market infrastructures. Our clients are exchanges, post-trade platforms, and banks across 20 countries.
Founded in 2009, the Exactpro Group is headquartered in the UK and has operations in the UK, the US, Georgia, Sri Lanka, Lithuania, Armenia, Canada and Italy. The firm employs over 700 specialists. Exactpro is involved in a variety of transformation programmes related to large-scale cloud and DLT implementations at systemically important organisations. Our area of expertise comprises API gateways, matching engines, market data, clearing and settlement, market surveillance, improving scalability, latency and operational resiliency.