Simulator

Empower Your
TRADING
Application through
SIMULATION
 CONTENTS

1. Business Obstacles PSS Overrules 2

2. Product Introduction 2

3. Feature Highlights 3

4. Who can be Gainers? 4

5. Business Benefits 5

6. System Requirements 5
6.1 Software Requirements 5
6.2 Hardware Requirements 6

7. Battle Card 6

8. About Sensiple 7

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 1 Business obstacles PTS overrules

Few pain areas for organizations, where most of the trading applications experiences snag and PSS
becomes “Must to Have” tool so as to enable rapid deployment and smoother operation of trading
systems:

Certifying and testing any FIX engine

Ad-hoc testing of incoming connectivity from counterparties
Consistent validation and certification with counterparties
Counterparties using different FIX public interfaces
Possibility of more than one interpretation of FIX protocol by counterparty systems even if they use
same FIX version.
Continuous enhancements to trading systems as business requirements change with market
development and regulations.
Monitoring FIX message (Client & Server Logs) with interface parsing

For addressing the listed pain points, PhiFIX Simulator Suite replicates the behavior of opposite side in
a regulated environment so that clients can build up market scenarios and execute them. PSS helps
counterparties to identify and build up trading infrastructure which compliments each of the parties,
before the trading system goes live.

2 PSS Introduction

PhiFIX Simulator Suite (PSS) by Sensiple, regarded as Best in class FIX simulation platform allows
simulating the counterparty applications via configuring and initiating FIX listener sessions with various
versions. This FIX listener session in turn allows to connect FIX Client Sessions, validate client request
and simulate client response from the Listener Session. PSS can also be customized to Client
Onboarding Tool which helps to perform various compliance and system verification.

PSS, a secured and robust platform provides additional configurable features like Market Data Feed
Manager, Rule Based Matching and Rule Based Trade Management and is very flexible in the formation
of FIX messages and supports the actions in many different Sell-Side, Venues and Buy-Side trading
situations.

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 3 Features Highlights

Simulate and
Configures Sessions
Rule Based
Matching
Application
for All
Book Preference
Customize
Dialects
Trade Management

Validation

Monitoring

Feed Manager

Simulate and Configures Sessions:

PSS configures multiple FIX Listener Exchange Sessions based on Exchange Properties like Order Types,
Matching Logics and Message Types thereby connecting many FIX Client Sessions under a particular
project. Users can navigate between different sessions at any time using enabled filter options.

Application for All:

Buy-Side, Sell-Side and Venues can configure PhiFIX Simulator to check Client Application across all FIX
versions 4.x to 5.x. It provides support all FIX message types like Pre Trade, Trade & Post Trade.

Customize Dialects:
This helps users to configure and use User-Defined tags which are called Dialects. System allows users
to Create, Manage and View all user-defined fields based on environment requirements.

Validation:
Admin can configure Message and Field based validation rules for all messages in various FIX Versions
with respect to Listener session. This helps to narrow down test results.

Feed Manager
Price Feed Manager provides Price and Size based input to all subscribes based on Product Price Feed
Configuration. Feed Manager is a Price Feed subscription agent which helps user to subscribe the
simulation of Market Data. PSS integrates with price feeders with minimum customizations.

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Rule Based Matching:
Rule Based Execution provides Execution Mode and Execution Type configuration to provide response
to Client Sessions. Rule based matching manipulates the trade execution based on user-defined rules.

Book Preference:
Admin can also configure in which order book order will be placed (Internal, External or Combined). In
Combined Order Book Configuration, user can also assign matching priority.

Trade Management
It executes both the positive and negative test cases after validating the messages with the FIX Engine.
This enables clients for testing complicated scenarios using message validation.

Monitoring
PSS supports Log Analyzer and Message Analyzer to review and analyze Client and Server Logs. Using
Log Analyzer, user can load and display all the FIX messages from the log folder and the loaded
messages appear in a FIX format. Message Analyzer analyzes and displays the required details for any
particular FIX message.

4 Who can be gainers?

Buy Side Sell Side Venues

Asset Management Companies Investment Bankers Exchanges
Hedge Funds Commercial Banks OTC Exchange
Institutional Investors Stock Brokers Dark Pool
Retail Investors Market Makers

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 5 Business Benefits

Simulate huge Reduced Time

volumes Logs tracking to market

Rapid connectivity Real Time Market Adapting to

data feed Dynamism

Simulate huge volumes Real Time Market data feed

Use PSS for simulating enormous volumes of Feed Manager is a Price Feed subscription agent which
messages for Order and Execution Management helps user to subscribe the simulation of Market Data
System across all FIX version and all asset class. with bare minimum customizations.

Rapid connectivity Reduced Time to market

With a provision for client onboarding, PSS aids in PSS reduces dependency on counterparty by
rapidly expanding trade connectivity via FIX replicating the behavior of their test environment
protocol. enabling rapid deployment of trading applications.

Logs tracking Adapting to Dynamism:

PSS, a robust market simulation tool comes with an
additional feature of client and server logs monitoring
whereby user has provision to monitor enterprise
wide FIX messages onto a single interface Parses.
Be it security market development or any regulatory
update impacting the trading mechanism and systems,
PSS makes your system rapidly adapt to industry
technical standards and deploy the system within the
shortest span of time.

6 System Requirements

6.1 Software Requirements

Item Minimum Value

Operating Systems Windows 7 and Above
Network Not Applicable
Web Browsers Edge, Chrome and Firefox
Utilities Java 8
Firewall Configuration As per organization policy
Database Not Applicable

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6.2 Hardware Requirements

Item Minimum Value

Memory Minimum 4 GB RAM
Processor Type Minimum Intel i3-7320
Processor Speed 4.10 GHz
Swap Space Not Applicable
Hard Disk Space 20 GB

7 Battle Card

PhiFIX Testing Suite (PTS), a renowned solution on automation testing of trading applications
takes control of FIX testing. It can be widely used during all stages of the System Development
Life Cycle to assist developers during unit testing, quality assurance (QA) testing, certification,
and post-deployment maintenance. Competitive analysis (unveiled below) of similar products
available in the market, based on key functionalities demonstrates how PhiFIX Testing Suite
achieves an edge over other tools.

PhiFIX Simulator Market Market

# Feature Suite Leader Challenger

1 Proficient Services

2 Data driven testing

3 All Inclusive test validation

4 Dynamic Test cases

5 FIX protocol customization

6 Vigorous and configurable business

7 Exchange simulator

8 Customizable and easy-to-use

9 Report generation and notification

10 Test data sharing

11 FIX log import

12 Test data dispensement

13 Non-FIX protocol support

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 8 About Sensiple

Sensiple, represented as E Pro Inc. at US region is a world class IT solution provider offering
technology solutions and IT services across Finance, logistics, Retail, Customer contact,
Healthcare and Banking industries. Sensiple offers a suite of FIX Engine, Automation Testing,
Monitoring, Simulation, On Boarding & Certification under the umbrella of PhiFIX along with
products on Global Regulatory Platform and Matching Engine, developed based on 2500+ man
years of experience with center of excellence and R & D for Capital Markets domain. Sensiple
was an early adopter of FIX protocol and is credited for developing the world’s biggest OTC
exchange for US, LATAM & Paris markets.

Sensiple offers solutions to client’s business needs across the entire spectrum of trading
workflow complemented with latest technology which aids market participants to maintain a
competitive advantage in the current scenario.

Services Products

PhiFIX Engine
PhiFIX Test Suite(PTS)
Venues/Intermediaries PhiFIX Monitoring Suite(PMS)
FIX Protocol

Kuberic -Global Matching Engine

Setrega - Global Regulatory Tool
Phinici - Itch Ouch Protocol
Capital Markets Infrastructure
Services

marketing@phifix.com 555 US Highway 1 S,

Ste 330 Iselin, NJ 08830, USA

+1 732-283-0801 www.phifix.com

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