Itiviti, a technology provider for the capital markets industry, announced today that it has been engaged by the Canadian Securities Exchange (CSE) to implement a test automation solution that leverages VeriFIX by Itiviti. The Sweden-based company was chosen for the project due to its expertise in consolidated, automated testing for multi-protocol trading environments.

We chose Itiviti for their best in-class technology and expertise.

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The CSE, which offers trading services for over 325 uniquely listed securities, launched the first continuous auction market to trade securities listed on other Canadian stock exchanges in September 2007.

The exchange selected VeriFIX, the industry standard in automated protocol and functional testing, in order to implement a fully automated regression testing solution that covers order entry, regulatory requirements, and market data feeds for the CSE platform.

According to David Timpany, Vice President, Technology & Operations, CSE: “We chose Itiviti for their best in-class technology and expertise to obtain a competitive advantage in the marketplace. With automated testing using VeriFIX, we can dramatically reduce our time to deployment while leveraging a full suite of multi-session automated regression testing across three different protocols.”

Itiviti’s Services team collaborated with the CSE’s experts to build a customised regression testing suite which enables hands-free test automation across all protocols and interfaces.

Jesper Alfredsson, President Americas, Itiviti, added: “We are pleased to partner with the Canadian Securities Exchange to help them achieve cost and operational efficiencies. Our work with the CSE is a prime example of VeriFIX potential to achieve test automation for both FIX and proprietary protocols. We believe that firms who invest in test automation technologies will be leaders in offering high quality, reliable market access for their customers and market participants.”

Earlier this month, Finance Magnates reported that Itiviti released two new gateways in the equity options space, enhancing the existing offering of Chicago Board Options Exchange (CBOE) and CBOE’s C2 with connectivity to Nasdaq PHLX and the International Securities Exchange (ISE).