LONDON STOCK EXCHANGE ACCREDITATION POLICY FOR SOFTWARE HOUSES

Transcription

1 LONDON STOCK EXCHANGE ACCREDITATION POLICY FOR SOFTWARE HOUSES London Stock Exchange Page 1 of 26

2 Contents 1 Introduction Background Policy Objectives Readership Timescales Further Information 4 2 Accreditation Policy Overview What does Accreditation mean? Which solutions does the Policy apply to? What is required to become accredited? How should the Software Details Form for Accreditation be completed? How is Accreditation maintained? What charges will the Software House incur? 7 3 Accreditation Policy Procedures High Level Overview All Access Solutions Initial Discussion Relevant Documentation Contracts Pre-Test Documentation Initial Testing Optional Testing Mandatory Testing Accreditation Live Service 13 4 Maintenance of Accreditation Introduction Maintenance of Accreditation Flow Diagram Additional Details Core and Non-core software updates Customer receives accredited software 16 Appendix 1 Software Details Form 18 Appendix 2 Software Houses Process Flow 21 Appendix 3 Customers Using Accredited Software Process Flow 22 Appendix 4 Live Connectivity Flow 23 Appendix 5 Glossary of terms 24 London Stock Exchange Page 2 of 26

3 1 Introduction The London Stock Exchange, in consultation with its customers, is introducing a formal Accreditation Policy for Software Houses. This Policy allows Software Houses to demonstrate to their customers that they have achieved all the testing requirements set out by the Exchange, and hence, reduce the customers testing requirements. This will save the customers both time and money. The details of the Policy are set out in this document. 1.1 Background An Accreditation Policy was trailed during the Customer Test and Migration activities that took place during the migration of the market to the Extranex IP (Internet Protocol) network. This was in response to feedback indicating that faster, streamlined access to Live Service is seen as beneficial to both customers and software houses alike. This policy clarifies and confirms Accreditation and details how it will operate going forward. It has been designed to meet the needs of customers and software houses, while maintaining confidence in the testing process and the integrity of the service and market. 1.2 Policy Objectives To provide clear Accreditation requirements to all Software Houses and customers To reduce testing requirements for customers using accredited solutions to allow ease of access to Live Service whilst maintaining the rigour and value of testing services To document a single Accreditation Policy applicable to all software solutions, to ensure fairness between Software Houses. The Policy will also streamline and clarify the requirements of customers To add value to Software House products by having an Exchange recognised accredited solution. 1.3 Readership This Policy document applies to Software Houses who develop software solutions that provide access to the Exchange. These companies may also be referred to as Independent Software Vendors (ISVs). Throughout this document, the term Software House has been used. Customers who select accredited solutions may also use this document as reference; however, an additional Policy document aimed at this group has been produced, The Accreditation Policy for Customers using Accredited Software. This can be found on the Exchange s website. London Stock Exchange Page 3 of 26

4 1.4 Timescales This Policy is effective from the publication of this document. Software Houses who have been accredited to date will not be required to re-accredit until updates are made to their software. However, they will be required to provide software details to the Exchange by the 3 March In the absence of these details, re-accreditation may be required. A software details template can be found in Appendix Further Information For further information about the Policy please contact your Technical Account Manager. A Glossary of Terms is provided in Appendix 5. This provides additional information as well as definitions of terms that have been used in the Policy. Note, this document does not include specific details of the tests that are required. The Customer Testing documentation should be used as reference for details regarding test cycles. Detailed guidance on the different testing services is covered in testing specifications documents. Links are provided to these documents below: SETS Conformance testing Specifications issue 7(STS 101) SETS post-live customer testing issue 5 (STS103) SETS post-live customer testing document issue 7 (STS104) London Stock Exchange Page 4 of 26

5 2 Accreditation Policy Overview 2.1 What does Accreditation mean? The Exchange will accredit software solutions that have had their functional and technical components proven through specified testing with the Exchange, and where the Software House has provided all required documentation. This provides confidence to the Exchange and to the Software House s customers that the software solution interacts appropriately with the Exchange s systems in Live Service. Details of software solutions that have been accredited will be published to the market via the Exchange s website ( It is expected that customers will use the website when selecting a new software provider or as a guide to the market readiness of an existing provider. In choosing to use an accredited solution, the testing requirements for customers are reduced. This is due to the higher level of confidence in the solution that has already been achieved. As a general principle, customers using the software will only be required to test their network infrastructure and system capacity, and not repeat software testing. 2.2 Which solutions does the Policy apply to? This Policy applies to Software Houses developing the following solutions: Trading and Infolect Host to Host; a complete solution where trading access and information feeds are taken direct from the Exchange via dedicated Extranex links to the customer Trading only; trading access is direct to the Exchange, whilst a third party provides the information feed. (This category also includes the solutions that were previously known as Market Access Workstations (MAWs)) INFOLECT only; INFOLECT feed taken directly from the Exchange, no trading access is required Vendor Access Network (VAN); a network external to the Exchange is maintained by a Vendor Access Provider (VAP). The VAP provides access via the VAN for Vendor Access Customers (VAC). The VACs do not maintain independent links direct to the Exchange Retail Service Provider Gateway (RSPG) solution; provides access to the RSP Gateway for Retail Service Providers (RSPs) and Brokers. 2.3 What is required to become accredited? Software Houses must pass all applicable mandatory testing Software Houses must provide software version details including: - Main software version number London Stock Exchange Page 5 of 26

6 - Details of core software components (changes to these components will require re-accreditation) Any exceptions must be agreed by the Exchange and the Software House: - A Software House must provide suitable justification to be exempt from any stages of mandatory testing - There are certain stages that are central to Exchange connectivity. No exemption will be available for these steps. 2.4 How should the Software Details Form for Accreditation be completed? As described above, the Software Details Form for Accreditation is a requirement of accreditation. The form is included in Appendix 1. Once all testing has been completed on the final version to be rolled out to customers, the Software Details Form for Accreditation should be completed. An overall software version number should be given, and this is the version number that will be published on the Exchange s website. In addition, the details of core software components must be completed. The names and version numbers (as appropriate) of the software s core modules should be provided. This should include all modules that make up the interface with the Exchange, and all modules that provide the supporting functionality to the software. Areas that would be considered non-core are those that do not provide any direct interaction with the Exchange, for instance the Graphical User Interface (GUI). The Software Details Form for Accreditation will be held by the Exchange for internal use only, and a copy should be held by the Software House. The need for reaccreditation of a software solution will be based on the information described in this document. Where an update has been made to the core components, re-accreditation is required. See section 4 Maintenance of Accreditation for further details. 2.5 How is Accreditation maintained? In order to maintain a software solution s accredited status, the Software House is obliged to do the following: Inform the Exchange of updates to the solution s core software components, and perform re-accreditation as required Inform the Exchange of updates to the solution s non core software components, to ensure the software version numbers are accurate and up to date Clearly distinguish accredited and non-accredited solutions so that there is no customer confusion. Failure to fulfil these obligations may result in the accreditation status being revoked. Removal of accreditation status will result in any customers of that Software House being required to perform all testing that is mandatory for a customer developing an in house software solution. London Stock Exchange Page 6 of 26

7 2.6 What charges will the Software House incur? The Software House will incur an annual accreditation charge, to cover administration costs involved in maintaining the accreditation status of Software Houses. Details of this charge are available from your Account Manager. Note: This charge will be payable quarterly in advance. A variation of the testing agreement will be needed to be completed covering the accreditation service. In addition to this the existing testing charges will also apply. These include: A set charge for each supported test session that the Software House uses to pass all mandatory testing (as currently) Charges for any supported optional testing that is performed (as currently) Charges for any unsupported testing that is performed, dependent on whether this is via a continuous access enablement (annual charge), or a booked session (charge per session) (as currently) In order to minimise testing charges, Software Houses should take advantage of the unsupported test service, prior to booking slots for mandatory testing. London Stock Exchange Page 7 of 26

8 3 Accreditation Policy Procedures 3.1 High Level Overview This section contains a high level overview of the Policy. Each section of the high level diagram is then explained in more detail in the following paragraphs. A more detailed flow diagram, Software Developers Process Flow is included within Appendix 2. Figure 1 High Level Overview Relevant Documentation Accreditation All Access Solutions Initial Discussions Contracts Pre-test Documentation Mandatory Testing Initial Testing Live Service Optional Testing Optional areas London Stock Exchange Page 8 of 26

9 3.2 All Access Solutions The High Level Overview above applies to all of the solutions that were described in section 2.2. This section provides details of each type of solution that may become accredited in order to expedite customer s access to Live Service. The Exchange may extend this list as additional products and services are developed. 3.3 Initial Discussion Following the initial contact between the Software House and the Exchange, discussions are held to ensure that the Software House has a correct understanding of the requirements associated with the solution they are planning to develop. The extent of these discussions will depend on a number of factors, for instance, if this is the first time the Software House has developed a solution to interface with the Exchange s systems. Where the Software House is a potential VAN, and hence, has increased responsibilities to its customers, these discussions will be more extensive. For more details about the specific requirements of a becoming a Vendor Access Provider (VAP), see the Vendor Access Network Project Guidance Note for Applicants 3.4 Relevant Documentation Documentation is available to Software Houses that is intended to ensure they have a complete understanding of the requirements of the solution they are proposing to develop. This will also aid Software Houses in the design and development of their solution. For example, the latest Technical Specifications and other guidance documentation is available via the Technical Library on the Exchange s website. The Technical Account Manager can advise the Software House as to the relevant documentation. In addition, where the Software House is a potential VAP, the VAN questionnaire must be completed prior to the Exchange accepting the VAN application and proceeding to accreditation. For more details about the specific requirements of becoming a Vendor Access Provider (VAP), see the Vendor Access Project Guidance Note. 3.5 Contracts Prior to testing beginning, contracts must be signed by the Software House. These are used to confirm the requirements of the Software House. The contracts required are determined by the solution that is being developed. These are detailed in the table overleaf; note these are subject to change: London Stock Exchange Page 9 of 26

10 Figure 2 Contract Requirements for Software Houses Customer/Solution Software Houses Customers Using Accredited Software Contracts In house Trading + LMIL Extranex Trading only LMIL Only VAP RSP Trading + LMIL Trading only Contract & Order form & Testing Services Order Form & LMIL Order Form LMIL Only VAC RSP Trading Services VAN Customer Security Contacts Order form Order Form and User Agreement Customer Security Contacts VAN Questionnaire Contract Order Form RSPG Enablement Form Customer Security Contacts Addendum & Unless connecting through a service provider 3.6 Pre-Test Documentation Prior to testing beginning, the following documentation should be completed and verified by the Software House: Testing Customer Enablement Information Form (CEIF); this contains the details of the testing enablements that will be used to access the testing environments. They are based on the information contained within the contracts. All solutions require testing CEIFs. The testing CEIF will also contain the software version number. These details must be confirmed by the Software House prior to testing beginning. This ensures that all details are correct, and that the Exchange and the Software House have a common understanding of the Software Houses requirements. Exceptions; occasionally Software Houses may provide justification that certain parts of the functionality that is covered within the mandatory testing is not applicable to them. If the Exchange agrees to these, then the Software House will be allowed exemption from that step of the test. The functionality that is not tested will not become part of the functional offering of that accredited solution, so customers using the solution will not be able to make use of the functionality. Some exceptions will be known prior to testing, for example, where this forms part of the design of the software, but some exceptions may be found during London Stock Exchange Page 10 of 26

11 testing. If the Exchange agrees these, then they may be added to the exceptions report. 3.7 Initial Testing This term describes the supported testing that is used to assist Software Houses with connectivity and to minimise risks of adverse effects on the testing service. This testing should be completed prior to optional testing. Currently, performing a TRT prior to CDS access is an example of initial testing. 3.8 Optional Testing This term describes all test facilities that are available to Software Houses but are not mandatory. Software Houses may choose to perform optional testing to give them additional confidence in their software, or to provide training facilities for their staff. Currently, a Software House utilising the CDS service is an example of optional testing. The Exchange recommends that this service is used in order for the Software House to be confident that they are prepared for mandatory testing, and that they have covered any additional testing of the solution they wish to prior to accreditation and roll out. 3.9 Mandatory Testing Mandatory Testing is the testing that the Exchange requires a software solution to perform. The level of testing that is required depends on the solution that is being developed. A Software House performing full conformance in order to gain accreditation is an example of mandatory testing. The table overleaf (Figure 3) details the mandatory testing requirements that are required for each solution group. Also within the table are details of the requirements for customers who are using an accredited solution. London Stock Exchange Page 11 of 26

12 Figure 3 Mandatory Testing Requirements Customer/Solution Software Houses Customers Using Accredited Software Tests Trading + LMIL Trading only LMIL Only VAP RSP Trading + LMIL Trading only LMIL Only VAC RSP LMIL TRT O O O O O O Trading TRT O O O O O O HVS LMIL CBT O O O O O O Conformance Trading CBT O O O O O O LMIL Conformance Trading Conformance O O O O O O GCT O O Gateway Conformance O AIF * O O O Multiple USAP* O O O CDS Volume Input Service O O O O O O Trading CDS O O O O O O LMIL CDS O O O O O O Live LCON O O GCON Key: Mandatory Test O Optional Test Test Not applicable * Where indicated, if this facility is being developed, then the test is mandatory. Mandatory for RSPG Service Providers only HVS can be performed independently, but is also included as part of LMIL Conformance 3.10 Accreditation The completion of Mandatory testing is only one of the requirements a Software House must fulfil in order for a solution to become accredited. The full requirements are set out below: All mandatory testing passed Software Version report completed, with core software details provided Exceptions report completed Accreditation charge paid. Once all requirements have been met, the Software House is given accreditation status. The details of the software are published on the Exchange web site. It is expected that customers will use the website when selecting a new software provider or as a guide to the market readiness of an existing provider. The customer is able to London Stock Exchange Page 12 of 26

13 confirm that the Software House has completed all mandatory testing, and supports the services it requires Live Service VAN and RSPG Service Providers require access to Live Service in order to provide this solution to their customers. When using these solutions customers do not maintain their own connections to the Exchange, but gain access via the connections that are maintained and supported by the Software House. In order to gain access to Live Service the Software House must perform Live Connectivity Testing (LCON/GCON). London Stock Exchange Page 13 of 26

14 4 Maintenance of Accreditation 4.1 Introduction Accreditation has been introduced to clarify Customer Testing requirements for Software Houses, and to simplify access to Live Service for customers who use accredited software. In order to ensure that an orderly market is preserved, it is important that the details of accredited software solutions are accurate. The Exchange may remove accreditation status if these procedures are not followed. Removal of accreditation status will result in any customers of that Software House having to perform all testing that is mandatory for the Software House prior to reentering Live Service. In addition, the Exchange reserves the right (as currently) to suspend customers from the Test or Live Services, if it is thought that the software may have adverse effects on its systems. The procedure that will be followed is detailed on the next page. It has been represented in a flow diagram, and shading has been used to indicate where responsibility for stages of the flow lies with the Software House, or with the Customer. The sections that follow provide additional details to this process. London Stock Exchange Page 14 of 26

15 4.2 Maintenance of Accreditation Flow Diagram London Stock Exchange Page 15 of 26

16 4.3 Additional Details This process flow begins with a Software House approaching the Exchange with new, or updated software. Where the software is a completely new solution, full accreditation is required. The description of this process is given above in section 3, Accreditation Policy Procedures, but also in the Software Developer s Process Flow (See Appendix 3) Core and Non-core software updates It is recognised that Software Houses may have to make updates to a solution that will have no effect on the functionality the solution provides, and cannot result in an adverse effect on the Exchange s systems. For instance, updates to the Graphical User Interface (GUI). In order to allow Software Houses to make updates such as these, without the need for re-accreditation, the software details form has been introduced. This form, which is part of the accreditation requirements, will contain details of the software version number, and details of what the Software House considers to be the core components of that software solution. The core software components should include all modules that make up the interface with the Exchange, and all modules that provide supporting functionality to the software. This information is held by the Exchange. The information provided in the Software Details form is used to confirm whether an update to accredited software will impact the core components. The flow demonstrates that where an update is made to core software, re-accreditation is required. The flow links to the Software Developer s Process Flow (see Appendix 2). This flow diagram summarises the detail given in section 3 Accreditation Policy Procedures. Following re-accreditation, the software may be rolled out to the Software Houses customers. Where the update is to non-core software, no mandatory testing is required. The Exchange will include the updated version details on the accreditation website and the software may be rolled out to customers Customer receives accredited software If this is the first time that the software has been used by the customer, mandatory testing must be performed, and the flow diagram links with the Customers using Accredited Software Flow (See Appendix 3), which provides details of this process. Where the software is already in use by the customer on an existing enablement, and they have made no changes to the enablement, they may take the upgraded software without any mandatory testing, as their network infrastructure has already been tested. For more details of the testing that will be required for customers, see the Guidance Note for Customers using Accredited Software. This can be found using the link below. London Stock Exchange Page 16 of 26

17 DISCLAIMER Whilst the London Stock Exchange has used reasonable endeavours to ensure that the content of this policy is accurate, it is intended to be used as guidance only and no liability is accepted for any error or omission made. Although successful completion of the accreditation process will enable Software Houses to supply software to its customers that complies with certain mandatory testing requirements of the Exchange, the Software House shall remain responsible for ensuring that such software continues to comply with all such requirements from time to time in place. The Software House must comply with all applicable laws and regulations from time to time in force. For the avoidance of doubt, the Exchange assumes no responsibility in relation to third parties. This policy made be amended from time to time without notice and you should check the London Stock Exchange website [ for any updates. For further information about this policy and terms and conditions relating to accreditation you should contact your Technical Account Manager. The London Stock Exchange crest and logo, SETS,London Market Information Link (INFOLECT) and Extranex are trademarks of London Stock Exchange plc March 2003 London Stock Exchange plc, London EC2N 1HP London Stock Exchange Page 17 of 26

18 Appendix 1 Software Details Form. SOFTWARE DETAILS FORM FOR ACCREDITATION THIS FORM IS TO BE COMPLETED BY SOFTWARE HOUSES WHO WISH TO GAIN ACCREDITATION STATUS FOR THEIR SOFTWARE Contact Details Name of firm/company*: Contact name(s): Telephone number: address: *please ensure the name specified is the same legal entity as signed on your Trading Services User Agreement. 1, Software Version Please identify below the software version that it applying for accreditation. Software Name: Software Version Number: 2, Software Details Please identify below the components of the software detailed above that are considered core components. If you require additional space please continue on a second form. No. Component Name Component Version Number (if appropriate) Brief Description London Stock Exchange Page 18 of 26

19 No. Component Name Component Version Number (if appropriate) Brief Description , Where to send the form This form can be returned electronically, via fax or post. Contact details are given below: Client Technology Group ctg@londonstockexchange.com Client Technology Group fax number: Return by post to: F.A.O. <Your Technical Account Manager> Client Technology Group London Stock Exchange Old Broad Street LONDON EC2N 1HP The London Stock Exchange crest and logo is a trademark of London Stock Exchange plc March 2003 London Stock Exchange plc, London EC2N 1HP London Stock Exchange Page 19 of 26

20 Guidance Notes for Completing The Software Details Form for Accreditation These notes are intended to provide you with guidance information to aid the completion of the Software Details Form for Accreditation. For additional detail, and for the full Accreditation Policy, see the Accreditation Policy for Software Houses that can be found on the Exchange s website. The section headings correspond directly with those on the registration form. 1, Software Version This should contain the name and overall software version number of the software that is seeking accreditation. This is the version number that will be published on the Exchange s website. 2, Software Details Please enter details of the components of the software that you consider to be the core components. The names and version numbers (as appropriate) of the software s core modules should be provided. This should include all modules that make up the interface with the Exchange, and all modules that provide the supporting functionality to the software. A brief description of the module should be provided. Areas that would be considered noncore are those that do not provide any interaction with the Exchange, for instance the Graphical User Interface (GUI). These should not be detailed on this form. This form will be held by the Exchange, and a copy should be held by the Software House. The need for re-accreditation of a software solution will be determined by this document. Where an update has been made to the core components, re-accreditation is required. London Stock Exchange Page 20 of 26

21 Appendix 2 Software Houses Process Flow London Stock Exchange Page 21 of 26

22 Appendix 3 Customers Using Accredited Software Process Flow London Stock Exchange Page 22 of 26

23 Appendix 4 Live Connectivity Flow This flow is included here for completeness as it is referenced in the flows in Appendices 2 or 3. London Stock Exchange Page 23 of 26

24 Appendix 5 Glossary of terms Term Accreditation Accreditation requirements Explanation Software has achieved the required standards stipulated by the Exchange, and been given accreditation status. The standards required before accreditation can be given: All mandatory testing passed Software Version report, and core software details provided Exceptions report completed All documentation contained in central location (Conformance Folder) AIF BDG BIC CBT CDS CEIF Conformance Conformance Folder Automatic Input Facility; a customer application that automatically enters multiple trading messages. This is tested in the CDS environment. Broadcast Data Group; INFOLECT feeds containing selected data. Bank Interchange Code; also know as the participant code Customer Based Test; the customer may perform any cycles of the conformance test in a less formal basis. Customer Development Service; a currently unsupported test environment based on Live Service. Customer Enablement Information Form A defined level of testing to be completed to give confidence that the software application interacts appropriately with Exchange systems. Contains documentation that makes up the conformance pass for that customer: Conformance test report Software version report, including core software details if accreditation is required Exceptions report. Core Software CTA CTG Details of what the software house considers the core components of the software. Changes to these components will result requirement to reaccredit. Customer Test Analyst Client Technology Group London Stock Exchange Page 24 of 26

25 Term Enablement Exceptions GCON GCT GUI HVS Initial Testing ISV LCON Live CEIF Live Service INFOLECT Mandatory Testing Non-accredited software Optional Testing Passed? Explanation The identifier of a group of access rights provided to a system. Agreed parts of the mandatory conformance test that are not required to be performed. This should be agreed between the customer, the CTG and the Customer Test Team. Final decisions are made using the current procedures. Gateway Connectivity Test; ensures customers can connect to the live RSP gateway. This is RSPG equivalent of the LCON. Gateway Connectivity Test; initial connectivity to the RSP gateway test environment. This is the RSPG equivalent of the TRT. Graphical User Interface High Volumes Service; a test performed on the conformance environment to ensure customer hardware can support the high volumes of data that may be produced. Testing that is designed to establish connectivity. This is performed with support from a CTA so that issues can be addressed without adversely impacting the system. Independent Software Vendor Live Connectivity Testing; ensures a customer can connect to the Live Service and perform appropriate functionality prior to entering production. CEIF containing details of the customers live enablement. This includes the software version number. This must be confirmed by the customer prior to Live connectivity testing. The production Trading and Information (INFOLECT) Systems. London Market Information Link Testing that the Exchange requires the customer to perform before they are conformed or accredited. Software that has been developed by a Software House, but has not performed all the requirements of accreditation. Testing that is not mandatory. This testing is at the customer s discretion and any aspect of testing may be performed. See Appendix 2 for details of Optional testing. All testing passes should be confirmed by CTG. London Stock Exchange Page 25 of 26

26 Term Pre Test Documentation Explanation The documentation that is required to be completed before testing can begin. This includes: Development CEIF; to be approved by customer Exceptions report; any known exceptions should be documented. This may have to be updated following initial conformance attempts. RSPG SAP Software details Retail Service Provider Gateway Service Access Point As part of the monitoring of software that has passed conformance testing, the Exchange will request software details. For software that does not require accreditation only the main version number is required. However, software houses requiring accreditation also have to provide details of the software s core components. If an update is made to these components then re-accreditation is required. Testing CEIF CEIF containing details of the customers testing enablement. A CEIF is produced for the Conformance environment, and a separate CEIF is produced for the CDS. This includes the software version number and must be confirmed by the customer prior to commencement of testing. If no testing is required on the test environment, then a Testing CEIF is not required. TRT USAP VAC VAN VAP Volume Input Service Technical Readiness Test; the initial cycles of the conformance test, focusing on connectivity. User Service Access Point Vendor Access Customer Vendor Access Network Vendor Access Provider A bookable session performed outside normal CDS hours. Allows customers to input large trade volumes to test their system s resilience. London Stock Exchange Page 26 of 26