Exactpro and Athens Stock Exchange Collaborate on a Case Study on Athex Trading System Upgrade and FIX Migration

[1 June, London] – Exactpro and the Athens Stock Exchange (ATHEX) announce today the publication of a collaborative case study entitled Athens Stock Exchange Trading System FIX Migration – OASIS Upgrade Testing & Coverage Analysis.

The case study describes data-driven passive testing and functional test automation approaches leveraged by Exactpro to facilitate a technology project of migrating the ATHEX trading system to a new FIX server and highlights a broad range of benefits of passive testing for verifying the quality of large-scale transaction processing systems. The project’s testing scope included functional and regression testing of the changes introduced to the ATHEX trading system. The case study also showcases the passive testing and results analysis automation tools that enable the use of advanced data analysis. 

Nikos Antonopoulos, Head, Trading Systems Development department, Athens Exchange Group says, “Exactpro has been a valuable partner to ATHEX for several years now. Throughout this partnership, we have collaborated to create a substantial and comprehensive test library that has been instrumental in automated regression testing across multiple versions, leading up to the introduction of ATHEX FIX. The investment in functional testing has yielded consistent results, effectively validating existing functionality and bridging significant gaps left by unit testing, manual testing and UAT. Once again, in this development cycle, Exactpro specialists have worked closely with our teams, contributing to the solidification of the product in all aspects, including functional and non-functional requirements, as well as documentation. The collaboration has built confidence levels, paving the way for a successful go-live.

“After a particularly demanding project with significant risk factors, ATHEX FIX is currently live marking a smooth and incident-free transition to production, without disrupting our daily operations. We are proud we have achieved the desired performance goals, with a nearly 50% reduction in round-trip time for ATHEX colocation clients. The tools and expertise provided by Exactpro have been instrumental in accomplishing these goals.”

“We have been happy to have the opportunity to collaborate with our partners at the Athens Stock Exchange on this case study which emphasises the benefits of passive testing for ensuring the success of trading platform upgrade and migration initiatives,” – says Iosif Itkin, co-CEO and co-founder, Exactpro. “The approach we have described enables us to create comprehensive test libraries, automate regression testing and passive reconciliation checks, monitor the system’s performance and health over time, detect floating issues and issues manifesting themselves under unique conditions, such as when the system is stressed, which is a crucial type of validation for high-availability mission-critical financial platforms prone to high-volatility risks.

“Using passive property testing for data annotation is what drives Exactpro’s new AI Testing strategy and we will continue further enhancing the Exactpro testing service with data-driven tools and techniques. We have enjoyed working with the ATHEX team and will be happy to support future innovation initiatives by our partners.”

About Athens Exchange Group

Athens Exchange Group provides support to the Greek Capital Market. Operates the organised equities and derivatives markets, the alternative market, performs clearing and settlement of trades and participates also in the Energy Market since 2019. The Group offers financing tools and solutions to companies, expands investor choice by providing a safe, stable and easy environment in full alignment with international practices and the European regulatory framework. More: https://www.athexgroup.gr/.

About Exactpro

Exactpro is an independent software testing services provider for financial sector organisations. Our clients are exchanges, post-trade platform operators, and banks across 20+ countries. Our area of expertise comprises protocol-based testing of matching engines, market data, market surveillance, clearing and settlement systems, improving scalability, latency and operational resiliency. Exactpro is involved in a variety of transformation programmes related to large-scale cloud and DLT implementations at systemically important organisations. Our approaches leverage artificial intelligence (AI) to help harness the power of big data analytics to automate the generation of test ideas and the interpretation of test results. We also use smart execution capabilities to support full-scale AI adoption at Exactpro and within our client firms.

Founded in 2009, the Exactpro Group is headquartered in the UK and operates delivery centres in Georgia, Sri Lanka, Armenia, Lithuania and the UK and representative offices in the US, Canada, Italy and Australia. Exactpro employs circa 600 staff. More: https://exactpro.com/.