Data Science is a collaborative field of study that utilizes systems, algorithms, processes, and scientific methods to extract knowledge and insights from a vast collection of unstructured and structured data. The insights and knowledge are later applied across a plethora of application domains. Because of the crucial position of Data Scientists, their demand has been on the rise in Canada, and between 2019 and 2028, job openings are expected to total a whopping 18,000.

When it comes to a Data Scientist’s salary in Canada, it’s not only higher than in most other countries, but it is also highly attractive compared to other jobs – even for novice Data Scientists and recent graduates. Not only this, but Data Science is also analytically satisfying and intellectually challenging, putting you at the forefront of the latest innovations in technology.

If you’re interested in securing a Data Science job and are researching everything about the job, we don’t blame you! In fact, we’re here to help you get into the nitty-gritties of this field and offer reasons you can consider choosing it as your ultimate profession. So, without further ado, let’s get started!

What Is Data Science?

In simpler terms, Data Science is a field of study that amalgamates various fields, including knowledge of statistics and mathematics, programming skills, and domain expertise to extract meaningful insights from data. Data Scientists are tasked with the job of applying machine learning algorithms to audios, videos, images, texts, numbers, and a lot more to produce artificial intelligence [AI] systems. These AI systems are then utilized to perform tasks that would otherwise require human labour and intelligence. The insights produced through such systems can also be used by business owners or analysts to convert them into tangible business value.

Since more and more companies now realize the importance of such fields and fighting to remain ahead of their competition, Machine Learning, AI, and Data Science are becoming popular in the big data era for industries and businesses of every size and type.

If you want to know the scope of this field in the job industry and expected salary ranges, you can read our blog containing all the details regarding this topic.

Okay, But Why Should You Become a Data Scientist?

Data Scientist jobs are on the rise, and there’s a high demand for Data Scientists due to new job openings or replacement needs. This increase also means that you will receive a market-competitive salary package if you opt for this field. However, there are more reasons to consider this career. Let’s take a look at what these reasons entail:

1. Work Whenever, Wherever You want

Data Scientists often work in collaboration with or for software companies that are flexible in nature. Additionally, there’s an increase in the market for remote work in this field, meaning you can work on your own terms whenever you want and live in any region while you work. Even if you opt to work for a traditional company, it’s not common for employers to request Data Scientists to work overtime unless absolutely necessary.

2. You’ll Work on Futuristic Projects

Data Scientists work on uber-cool and futuristic projects that can even help save lives and mitigate the effects of climate change on a global scale. For example, improving weather prediction technology and building more accurate climate models are tasks carried out by Data scientists. Some other typical jobs in this field entail analyzing crop yields and agricultural practices or hardware and software optimization for driverless vehicles and innovative public transport projects. These are only a few of the many examples highlighting just how incredible the job of a Data Scientist can be.

3. More Opportunities for Growth & Success

It takes professionals years or sometimes even decades to reach a position of influence over the macro-level initiatives and decision-making in most government organizations or large corporations. However, Data Scientists have the power to influence significant investments in new campaigns or resources right from the get-go. Consequently, such professionals are presented with frequent opportunities to reach higher levels and accelerate their journey in this career path.

4. Become a Management and Decision-Making Leader

As a Data Scientist, you will be solving some of the company’s biggest problems. In doing so, you might even catch problems that the management didn’t even notice before. The problem discovery is also backed by the data gathering and data manipulation processes. The more you do this, the more prominent will be the need for this field in the company.

5. Work for the Biggest, Coolest Tech Companies

Big-name enterprises, such as GrubHub and Uber, and even gaming companies such as Niantic have been expanding the possibilities of the service networking and mobile devices industries, continuing to expand the need for Data Scientists. If you’ve always had a passion for changing the world and working at a futuristic company’s headquarters, this path will lead you to these milestones relatively faster.

6. Countless Opportunities to Learn and Grow

One of the most attractive aspects of building a career in Data Science is that there are countless opportunities to learn and opt for academic programs that can aid in jumpstarting your career. Resolve6 Software Solutions is one such platform that offers a dynamic online course on Data Science Training with Machine Learning and helps individuals develop vital skills in the field.

Concluding Remarks

Are you taken with this brief introduction to Data Science and all the reasons to consider becoming a Data Scientist? You’ll be even more excited once you begin your journey in this field and get first-hand knowledge and expertise. Don’t miss your chance and start building a career you’ll love and be proud of. Join the growing community of learners at Resolve6 Software Solutions. Be sure to take a look at our blogs to stay up-to-date about the latest trends in the different fields and job markets of software development. We also provide training and certification programs for Canadian and non-Canadian professionals, so be sure to check out our offers.

If you are into IT, we are sure you must have come across this term if you are interested in getting into the IT field. There is absolutely no doubt about selenium’s popularity due to its features.

This open-source, free tool has been the top choice of major software developers and testers for testing interfaces. It has an easy path for generating test scripts, functioning validation, and reuse of test scripts. Therefore, validating the statement that selenium is taking over the automation testing.

Why should you learn Selenium?

If you aspire to be working in the IT industry as a QA Tester, it might be the right time to level up your game with Selenium. I t is a portable framework for automating applications, mainly web-based applications. A suite of software tools to automate web browsers that are primarily used for functional and automation testing.

The best thing about QA selenium training is that the tool does not need any license. The course is designed from basics so that you do not need any prerequisites to start learning. Selenium supports programming languages like Java, Python, PHP, C#, Ruby, and more. It supports significant OS like Safari, Google Chrome, Firefox, and more. Choosing selenium automation testing as a career choice would help you test applications on your own.

Selenium WebDriver is a leading testing tool in the QA industry, is one of the most sought-after skills. As the industry is shifting towards automation, testing jobs are on the rise that is highly paid and valued. With more and more upcoming applications becoming accessible through the browser, it’s essential to opt for a software test course.

The QA selenium training course is designed to provide in-depth concepts of selenium. This course trains developers and manual testers to learn how to automate web applications with a robust framework. After completing QA selenium training, you can right away start working with eCommerce websites and build your career.

Popular Selenium Choices

Majority of companies use selenium web driver with Java to test web applications. Although selenium supports various programming languages like PHP, Java, Python, Ruby, Pearl, etc. for performing tests, Java and Python are the two top contenders.

Why use Selenium with Python?

Why use Selenium with Java?

Why opt for a QA selenium training course?

Key learning areas of Selenium

Selenium IDE (Integrated Development Environment)

Selenium RC (Remote Control)

Selenium WebDriver

Selenium Grid

List of Testing Frameworks for Selenium 

Various web apps are developed daily with different programming languages like Java, C#, Python, etc.; it is essential to have a compatible Unit Test Framework for every programming language. 

Testers use unit Test Framework to automate unit tests that also allow them to verify the code’s correctness. 

Here are the most popular programming languages with compatible Unit Test Framework.

TestNG

JEST 

PyUNIT 

MsTEST

TestUnit 

JUnit 

How is Selenium used in Enterprise web applications?

Selenium has earned its spot as the de facto standard for web browser automation and enterprise applications. It’s due to the fact that it supports all major browsers and provides a relatively simpler API to test UI. Selenium enables easy development of adorned automated scripts

Large scale enterprises use selenium for the following key reasons.

  1. Platform portability
  2. Flexibility
  3. Language support
  4. Remote control/selenium grid
  5. Open source advantage

Career Advancement with Selenium

Companies that use selenium are shooting up in numbers with each passing day. Selenium has experienced good growth in a short period of time and this has boosted the market for test automation and software testing. With shorter testing cycles, clients are able to receive ROI quicker. Here are some of the popular job roles you can consider once you upskill in selenium.

Salary range of a selenium tester

Selenium is globally rated as a top priority in the test automation field scaling up from 29% to 36%. According to salary trends analyzed Payscale, the average pay for a Selenium Tester is $83,200 per year.

Selenium Tester Resume Tips

We have combined a few tips you can make use of while creating/updating your resume for a selenium tester job

Selenium Interview Prep

Here are the top free selenium interview question & answer resources to help advance your career

  1. https://www.resolve6training.ca/top-interview-questions-on-software-testing-and-test-automation/
  2. https://www.edureka.co/blog/interview-questions/selenium-interview-questions-answers/
  3. https://www.softwaretestinghelp.com/selenium-interview-questions-answers/
  4. https://www.nextgenerationautomation.com/post/selenium-interview-bank
  5. https://intellipaat.com/blog/interview-question/selenium-interview-questions/
  6. https://www.techbeamers.com/latest-selenium-interview-questions-and-answers/

Selenium-the future of DevOps

Several companies are replacing agile, or waterfall approaches with DevOps. Software products are usually delivered on the cloud. Not many tools qualify as DevOps tool as it emphasizes using an open-source tool; Selenium.

Alongside, selenium can be easily integrated with popular & essential dev ops tools such as  Jenkins, Chef, Puppet, Git, Maven etc to create an automated testing strategy. With more such possible tool integrations in the near future, the lines of a software developer and tester are going to get even more blurry.

Ensure your code work as it is expected to work by using a multitude of testing frameworks that save you time and effort. Selenium automation testing is one of the most popular automation testing frameworks currently used by developers across the globe.

At the present time, you surely do need a skill set that includes QA selenium testing. We provide hands-on experience in our software testing course that helps you fit in a well-known professional organization. The average salary range of selenium falls between 10 lakhs to 24 lakhs per annum. Isn’t that great? Indeed it is.

Master the complete selenium suite and give a kick-start to your career in the IT field right away!  

Hope you found this article helpful. So why wait longer? Enroll in QA Selenium Training today and start your journey!

 

Test Data Management

TDM (Test Data Management) is a process of provisioning data that is required for software testing. The TDM solution should facilitate the requirements of both Automation test scripts which require data to conduct a data-driven test, as well as a manual test in order to meet the need to validate a business scenario in a test case.

One of the key objectives of the Test Data Management (TDM) solution is to create data that resembles the quality of data available on the production environment used by the end-users. This will elevate the tester’s ability to simulate all required business cases and validate the behavior of the application/system.

Having a TDM process in place within any organization guarantees the arrangement of test data which is of good quality and is reliable, this results in an effective test approach. Therefore, we may conclude that TDM has three key objectives, that is to provide high-quality, practical, and reliable test data.

TDM should ensure that client sensitive information (CSI) is being protected. This has to be done via a strategic scrubbing process, which will ensure the data processed retains the data integrity and the relational data structure when loaded onto a database.

Here are the most popular TDM Tools in the market.

About Delphix Test Data Management

Delphix profiling identifies sensitive information, such as names, email addresses, and credit card numbers across a range of data sources including relational databases and files. Delphix provides over 50 out-of-the-box profile sets covering 30 types of sensitive data, as well as the ability to define custom profiling expressions.

Delphix masking algorithms do not require programming and produce realistic values while preserving referential integrity within and across sources. Out-of-the-box algorithm frameworks can be quickly customized, or new algorithms can be easily defined if needed. Masked data is production-like in quality and remains fully functional for accurate development, testing, and analysis.

Data can be tokenized and reversed or irreversibly masked in accordance with internal standards and privacy regulations such as GDPR, CCPA, and HIPAA. Delphix provides the ability to define and broadly apply a consistent set of masking policies to mitigate privacy and security risks across non-production environments—where the vast majority of sensitive data copies reside.

Informatica Test Data Management

Informatica Test Data Management is a popular option to do Test Data Management; the tool includes the following key operations

A command-line interface is available for generating data, data subset and masking, storing test data in Test Data Warehouse, resetting test data, and importing incremental test data changes

Conclusion

The above details provide an understanding of what is Test Data Management, its respective process and also the most popular test management tools in the market

About Resolve6

Resolve6 is a Skill Development and Job Placement Agency in Brampton, Mississauga, ON. We offer QA Training and Job Placement programs in Brampton, Mississauga online and on-class. Check out our upcoming programs to know when the next batch is scheduled.

The wide galaxy of software applications has spread in every event in this whole wide world, so it does exist at its extreme innovative existence at the NASCAR, one of the most popular sporting events in the world.

Did you know that what types of systems and software the teams at NASCAR are running on their pit box displays, and back in the garage? What we know is NASCAR controls the applications which make the event thru the NASCAR’s official stat keeping system. What we really want to know the technology which is used to bring this elite software system into its current existence.

All eyes today will be on NASCAR at the Pocono raceway, it will be exciting to see the competing pit coaches at NACAR use the state keeping screens to break down overhead video of the last pit stop and make notes or adjustments for the next change. This critical activity requires a lot of coordination and critical thinking. It reminds of those nail-biting movies like “birdcage” and the “silence”, where survival comes with the cost of making critical decisions.

Computer scientists at Washington University have built software that is integrated into modern technologies that enable tv viewers to immediately see how air moves through moving vehicles. This algorithm, first introduced last year at a computer graphics conference, has been used by sports network ESPN and sports technology business Sportvision Inc. to build a modern racing coverage influence. The accelerated progress took its toll at the end of July as ESPN used the Draft Track system to imagine the air movement behind cars in the Allstate 400 at the Brickyard, a NASCAR event on the Indianapolis Motor Speedway

Recently a bunch of developers from Washington University re-developed an Algorithm that dramatically speeds simulations of the real-time fluid dynamics. Along with ESPN, a corporation called Sportvision, headquartered in Chicago, has created the NASCAR racing program. The program Draft Track measures air movement across the vehicles and then shows it behind the vehicle as trailing colors. Green, blue, yellow, and red corresponds to different airflow speeds and directions when two or more cars approach each other while driving at speeds above 200 km / h. Firstly, the new algorithm simulates all the ways in which smoke, fire – or in this case modified stock cars – can act. The simulation then runs for a reduced number of physically possible parameters. Which helps the model to run faster than before a million times. This is all functional now at the NASCAR Pocono Raceway, making it once of the most technologically advanced sporting events in the world.

The galaxy of software applications and systems continue to grow and so is the complexity to create viable methodologies that allow software testing to be comprehensive enough to make this function in a clean and clear existence.

As part of the QA Training and job placement program, we run through a complete detail on how TestProject works.

TestProject is a 100 percent FREE platform for end-to-end test automation for web, mobile, and API testing. Even better, the # 1 test automation community supports this with thousands of loyal users. TestProject is Gartner’s top-rated free automation device, with 4.6/5 stars average.

TestProject keeps you up-to-date with the new software, libraries and SDKs required to build automated site and mobile app testing on a range of browsers and desktop devices as well as on any operating system (Windows, Linux or macOS). With Browsers, you can also check the iOS software!

Top factors TestProject you’ll love:

Resolve6 QA Training and Job Placement Program covers topics on to use TestProject to 

Checkout our Upcoming Job Placement Programs

Resolve6 Test AutomationThere a lot of promising automation tools out there, and you should surely research and finalize the best fit for your project. A quick intro to Test Automation, test automation is about running a software program that will carry out the execution of test cases automatically and produce the test results without any human intervention. Test Automation is a more mature way of performing testing after a manual test is being completed. The test automation approach creates a more comprehensive test coverage and saves on resource cost. Automation testing allows the scope of retesting an unlimited amount of times, without any lag on efficiency or accuracy.

There is a huge demand for test automation out there, with so many tools to choose from. Our spotlight today is on TestComplete which stands out among all of the test automation tools out there.

TestComplete is one of the popular tools to simplify desktop software, smartphone devices, and online applications. You can create and run usable UI tests with TestComplete with robust record & replay capabilities, or scripting in your favorite languages, like Python, JavaScript, VBScript, and more. With support for a wide variety of platforms, such as. Net and native and hybrid iOS and Android devices, combined with regression, concurrent and cross-browser testing features, you can use TestComplete to scale the experiments through 1500+real test environments for maximum coverage and improved device quality

TestComplete is a SmartBear Software-developed automated UI Testing tool. TestComplete is capable of generating automated functional tests for desktop, web, and mobile applications. It also has native Behavioral Guided Technology (BDD) support.

With Artificial Intelligence ( AI), this device is said to be remarkably easy to use. Create, maintain, and execute functional tests quickly and easily that will increase test coverage and ensure you are shipping high-quality, battle-tested software.

It has an unparalleled artificial intelligence hybrid object recognition engine. Its object recognition combines the property-based and AI-powered visual recognition to quickly, easily, and accurately find dynamic UI elements.

It is also referred to as a Script or Scriptless tool. The reason behind this is that you can currently do so in seven different languages (JavaScript, Python, VBScript, Jscript, DelphiScript, C #, and C+) if you want to script. If you don’t want to script, you can use its recording and play functionality.

In 1999, AutomatedQA developed TestComplete which is currently based in Somerville, Massachusetts. The current stable version of TestComplete is 14.0 which was launched in January 2019. SmartBear App is one of AutomatedQA Corp ‘s subsidiaries.

It is a highly paid tool that makes it difficult to be used by many organizations. They do provide a free trial of 30 days. That tool is used by some good product-based companies. There are actually fewer work vacancies on his method. Learning a paid tool is always hard on your own. It is a very effective device although it is not commonly used. More resources are paid for at TestComplete. As this tool has everything in it, it will have less career growth and can drastically reduce the number of resources needed to write automated tests. If you plan to start your TestComplete career then taking up Automation Testing using TestComplete Training will be an added benefit.

Disadvantages of TestComplete
Costs for licenses are high.
Supports Windows only.
There is not much assistance accessible across transparent societies.
The official documentation is not simple to begin with
The tool has a problem with stability
Cheaper than QTP but not as stable and powerful as QTP

When you compare TestComplete with Selenium, it is a script-less device that doesn’t need to begin with compulsory programming skills. It is very user friendly and helps create robust scripts. Compared to Selenium, it is much more powerful and feature-rich. But TestComplete’s cost is higher, and businesses go to open-source tools like Selenium. Selenium has more career growth and learning opportunities because programming needs to be good. TestComplete has fewer job openings because you don’t need more resources in a project like Selenium.

So TestComplete is ideally adapted for an average-skilled team and restricts timeline tasks for faster test scripts development. You can adjust the project budget by reducing the required number of resources.

The field of software testing has become one of most desirable careers for many individuals who want to start their career in information technology. To be well equipped with the skills and the thought process is a mandate to handle the job, so it’s important to pursue a service provider who specializes in training and skill development.

Most of the individuals who want to start their career in Software Testing are confused about picking and choosing what to learn and what to not learn. So to clarify such kinds of questions we want to write this quick note, to help individuals understand what is required to start your career in Software Testing.

Where do i start my journey to become a Software Tester

Well, there are many sources on the internet where you can learn what software testing is all about. However to get a comprehensive understanding of the subject tagged with real time and practical instances on how, why, where and when these conceptual understandings make a meaningful sense, you probably need guided and a management training provider, to help you thru this journey. (Check our upcoming Software QA Testing Job Placement Programs)

Should i have a computer science education to start a career in Information technology

No its not; When most of us graduate from university programs, 90% of us are not sure what career path we are going to end up; we pursue a choice that suits our personality at that point of time, and ironically most of study something and do something else in life. So don’t let a choice you made at a tender age of 18, dictate what you want or don’t want as your professional career. We have been in the field of Information Technology in Canada for the past 18 years now, and we have observed 100s of talented QA test professionals, who have come from very diverse backgrounds.

Should i be technical, if i choose Software Testing as field of choice

To make a choice to being part of Information Technology, and not being technical is a definite mismatch. But, don’t consider this as a show stopper, this is where the learning curve kicks in, where you need to understand, that technology is an evolving space, and what you learn today is obsolete tomorrow.

So its never too late to learn new technologies and tools and really become an contributing asset towards any project that you will endower on. We at Resolve6 understand this challenge and have tailored our programs with unique skill development methodologies that will help transform aspirants to successful Information technology practitioners.

Is Test Automation enough to land a job ?

Well, first you should realize the fact that, not every job is a test automation job, so the test automation skills that you learn may or may not be used in real time on a project. Having said that, to access a technical capability of a QA tester in an interview, QA test automation interview questions become an obvious choice for an interviewer.

So what we feel is that, if you are pursuing a career in Software Quality assurance, do make the effort to learn both manual testing and test automation. Check out our posts on test automation tools, to get a better idea of what to learn and what not to learn.

Should I learn Test Automation, only for interview purposes ?

Yes and No. If you have a little understanding on SDLC, you may already know that when IT started evolving, most of the preferred method of the development process was traditional.

Very popularly waterfall, and then came the more modern methodologies like Agile, which has become widely accepted and very popular choice for a fast and effect work environment. So is that it, where is the world of IT heading towards.

We are now heading towards a more automated process of both software development and operations, widely referred as DevOps. Now DevOps actually came to light around 5 years ago, so its quite new around the block, and it does make sense, that we are heading into a direction of using the DevOps stack of tools for testing purposes.

Is it expensive to learn Test Automation tools

Most of the test automation tools which fall under the DevOps stack are open source, (Check our post on DevOps for information). These tools are available online and can be downloaded at your convenience on a Windows PC or a MAC OS. However make sure to get a comprehensive training to master these tools.

If you want to keep yourself up to date with these tools, attend our monthly webinars, its free of cost and a good amount of information can be found here.

Finally .. How long does it take to start a career in Software QA Testing

Well, its all drills down to who is training you and what approach kind of approach will be taken in order to get you the job placement. We at Resolve6 have 18 years of experience in helping individuals start their careers in Information technology. We train and work with you, until you get placed !!

If you more questions, so feel free to contact us at 437-990-0020 or email us at contact@resolve6.com to get all information you need.

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 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

The hottest topic which is going around in the IT world is “CLOUD COMPUTING”. And yes, the idea is phenominal and delivers anything to anywhere, this framework is completly going to change the way, we use computer applications today.

There are primarily three types of services offered in the cloud, that would be

  1. Software as a Service (SaaS)
  2. Platform as a Service (PaaS)
  3. Infrastructure as a Service (IaaS)

Well lets keep the serious stuff aside for now, I will blog on the details later. And lets look at the comical side of it ENJOY!!

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