Exactpro supports launch of MEMX into the U.S. equity market with quality assurance testing

[29 June 2021, London, New York] – Exactpro, a leading software testing provider for mission-critical financial market infrastructures, today announces the publication of a case study detailing its contribution to the successful launch of the Members Exchange (MEMX) into the U.S. equity market, and subsequent completion of its U.S. stock exchange rollout with the trading of all NMS symbols, through delivering extensive functional testing and test automation to the innovative, customer-centric market operator.

Proceed to the Case Study

MEMX engaged Exactpro at the early stages of the program for review of the client-facing specifications in order to deliver clear and transparent documentation to the participants. Working in close collaboration with MEMX’s in-house testing team, Exactpro’s work included the initial analysis of the test scenarios and specifications, as well as test designs, bespoke implementation in addition to test planning and monitoring. For the project Exactpro deployed th2, its new next-generation test automation framework, into the testing process not only for active testing, but also for passive data consistency checks and reconciliation.

MEMX’s use of a modified waterfall development methodology and rapid prototyping required frequent test builds. Exactpro designed a detailed functional automated library covering all the required functionalities, and worked continuously to enhance the quality and speed of the regression testing which was continually analyzed by both teams.

Iosif Itkin, CEO and co-founder of Exactpro, said: “Working with MEMX, the fastest-growing US equities exchange, has proved to be an invaluable experience as we continue to deploy our next-generation test automation framework, th2. With this new offering, Exactpro was able to support MEMX’s rapid deployment schedule whilst simultaneously providing the highest levels of system quality assurance.”

Thomas Toller, Managing Director, Exactpro USA, said: “We have been delighted to partner with MEMX on such an ambitious and innovative project, a natural fit for Exactpro’s services and our continued expansion into North America.”

“MEMX’s close collaboration with Exactpro provided additional operational resilience and contributed to the exchange’s seamless launch, rollout and, ultimately, live trading in all NMS symbols,” said MEMX Chief Technology Officer Dominick Paniscotti. “We greatly appreciate Exactpro’s partnership in working to ensure the exchange’s technology was ready to perform at full capacity from day one.”

About Exactpro

Exactpro is a leading independent provider of software testing services for mission-critical technology that underpins global financial markets. The firm is experienced with trading, clearing and settlement platforms, market surveillance systems, market data systems, collateral and risk management systems, and post trade infrastructures. Exactpro provides functional and non-functional testing services to exchanges, clearing houses, securities depositories, trade repositories, digital exchanges, central banks, brokers, technology vendors and investment banks worldwide. Headquartered in the UK, Exactpro has over 630 staff members. Learn more at exactpro.com or follow us on LinkedIn and Twitter @exactpro.