The difference between RO-Properties and TO-Properties are that TO properties refer to the properties as they exist in the Test Object saved in the test (i.e. in the object repository or as described in descriptive programming) and the RO-Properties refer to the RunTime object (i.e. the object as it appears in the Application Under Test (AUT)).

From this distinction a few things arise

1.Accessing a TO property doesn’t require the AUT to be open
2.Accessing an RO property requires the AUT to be open and the object to be uniquely described
3.You can set the value of a TO property but not that of an RO property

The Trade Life Cycle is the referred to, as the workflow of a trade order from its inception stage until the Settlement of the Trade, The Trade Life cycle can be categorized into Front Office, Middle Office and Back Office activities

Front Office: The Front office is usually referred very commonly as the trading floor; it mainly performs two main functions, which 1) Trade Capture and 2) Trade Execution. The front office is where the trade gets initiated.

Using the trade app (the front end user application) is where the order gets booked on the front office as per the market price of the instrument; however the buyer does an option to quote an offer to the selling counterparty. (There are several ways to place a trade order … like Market Order, Market on close (MOC), Limit Order, Stop Order etc) If the counterparty agrees to the details of the trade and is willing to enter into the deal, the trade then gets executed.

When the trade is executed, its gets captured in the trading desk (in the Front Office) usually using a Trade capture system. The trade capture system validates all the necessary trade information and assigns a trade confirmation number or a trade reference number; this number will be unique and will be used for all subsequent trade events like amendment, cancellation etc; This reference number is sent back to both the parties (seller and buyer) as an acknowledgement of the “booking” confirmation.

Middle Office: The Middle Office in Trade Life Cycle plays a very vital role in the exception management. This is where the three important steps are done, which are 1) Validation, 2) Booking and 3) Confirmation.

Using an Order Management System (OMS), the trader works on the deal, using the OMS the trade gets enriched by static data like the standard settlement instructions (SSI) of the counterparty, Custodian details, City holidays, special instructions etc etc.

This static data details are important and critical for the completion and settlement of the trade. The allocation of the trade is done in the middle office (Allocation by Lot Size) and finally the trade gets transmitted into the Back Office, this is when the trade is considered to live and active.

Back Office: The Back Office is technically the “back bone” of the entire life cycle of the trade. The Back Office primarily performs three important functions which are 1) Clearing, 2) Settlement and 3) Accounting. This stage deals with significant operational activities such as record keeping, order confirmations, trade settlement and regulatory reporting.

In most cases, the back office activities are usually outsourced to cheaper sources for its respective management activities (for example .. outsourced to companies like Reuters, Capco, Bloomberg etc.), in order to cut down costs for the company which increases their profitability by delivering greater operational value

Why should you know details about the trade life cycle, when you work in IT ?

Domain knowledge like above is a key understanding to have when you work in the field of Information Technology; Such detail on domains (Trading, Banking, Insurance, and E-Comm) is covered as part of our Software QA Testing Training and Job placement program. We offer both in-class training at Brampton and Live Online for Students all over Canada and USA.

You can find more details about the online program is at

Software QA Testing

 

About Resolve6 QA Training and Job Placement Program

Resolve6 Software Solutions has been facilitating training and job placement services for over 18 years in Canada. Headquartered at Brampton, Resolve6 runs a comprehensive QA Training program that offers both manual and test automation skill development training in one program. Along with learning about Manual Testing on Web Applications, Databases, Mainframes, Unix, and Mobile, candidates learn Java from Day1, progressing into acquiring skills in Test Automation using Selenium, Web Services Testing using SOAPUI, Performance Testing using JMeter. The program covers cucumber, appium, Katalon, and Postman. Learn how to integrate test automation cycles into Agile as well as DevOps pipelines. For more details, visit

 

Software QA Testing

The difference between RO-Properties and TO-Properties are that TO properties refer to the properties as they exist in the Test Object saved in the test (i.e. in the object repository or as described in descriptive programming) and the RO-Properties refer to the RunTime object (i.e. the object as it appears in the Application Under Test (AUT)).

From this distinction a few things arise

1.Accessing a TO property doesn’t require the AUT to be open
2.Accessing an RO property requires the AUT to be open and the object to be uniquely described
3.You can set the value of a TO property but not that of an RO property

The Trade Life Cycle is the referred to, as the workflow of a trade order from its inception stage until the Settlement of the Trade, The Trade Life cycle can be categorized into Front Office, Middle Office and Back Office activities

Front Office: The Front office is usually referred very commonly as the trading floor; it mainly performs two main functions, which 1) Trade Capture and 2) Trade Execution. The front office is where the trade gets initiated. Using the trading app (the front end-user application) is where the order gets booked on the front office as per the market price of the instrument; however, the buyer does an option to quote an offer to the selling counterparty. (There are several ways to place a trade order … like Market Order, Market on close (MOC), Limit Order, Stop Order, etc) If the counterparty agrees to the details of the trade and is willing to enter into the deal, the trade then gets executed.

When the trade is executed, it gets captured in the trading desk (in the Front Office) usually using a Trade capture system. The trade capture system validates all the necessary trade information and assigns a trade confirmation number or a trade reference number; this number will be unique and will be used for all subsequent trade events like the amendment, cancellation etc. .. This reference number is sent back to both the parties (seller and buyer) as an acknowledgement of the “booking” confirmation.

Middle Office: The Middle Office in Trade Life Cycle plays a very vital role in the exception management. This is where the three important steps are done, which are 1) Validation, 2) Booking and 3) Confirmation. Using an Order Management System (OMS), the trader works on the deal, using the OMS the trade gets enriched by static data like the standard settlement instructions (SSI) of the counterparty, Custodian details, City holidays, special instructions etc etc. This static data details are important and critical for the completion and settlement of the trade. The allocation of the trade is done in the middle office (Allocation by Lot Size) and finally the trade gets transmitted into the Back Office, this is when the trade is considered to live and active.

Back Office: The Back Office is technically the “back bone” of the entire life cycle of the trade. The Back Office primarily performs three important functions which are 1) Clearing, 2) Settlement and 3) Accounting. This stage deals with significant operational activities such as record keeping, order confirmations, trade settlement and regulatory reporting.

In most cases, the back office activities are usually outsourced to cheaper sources for its respective management activities (for example .. outsourced to companies like Reuters, Capco, Bloomberg etc.), in order to cut down costs for the company which increases their profitability by delivering greater operational value