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All client sessions must be terminated gracefully in normal circumstances.

Client-Initiated Logoff

Client may only issue Logoff when no Venue session is active.

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Client responds to MF-issued Logoff message with reciprocal Logoff.

Dropped Socket Connection

Test force disconnect & automatic reconnect of session

Session Monitoring

Client Heartbeats

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Client is notified when Venue connectivity is terminated.

Maker RFS Workflow

We Maker certification should focus primarily on outbound (Client > MF) message correctness. 

QuoteRequest

Client is able to receive and correctly identify all flavours of RFS requests, i.e. permutations and combinations of the following:

• SecurityType: SPT, FWD, NDF, SWP, NDS, BLK, NDB (FXall)
• Allocations: Single and Multiple (including zero net allocs).
• Side: Buy/Sell/Two-Way
• Dea;lt Currency: Base/Term ccy qtys
• Regulatory framework: OFF/SEF/MTF

QuoteResponse

Ensure Client handles all RFS termination modes.

Outbound Client > Venue

Quote Request Rejection

Client should be able to send different rejection reasons, e.g. Credit check failure vs unsupported pair.

...

• FXall QuickTrade
• Currenex RFS (TODO: Create page on TheSauce).

Quote Request Timeout

Client should terminate RFSs after a period of time (e.g. 3-5m). The Client timeout may, or may not, match the Venue setting.

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• QuoteIDs  - Uniqueness is verified.
• QuoteType - various combinations of Indicative/Tradeable for Bid and/or Offer.
• Price precision - very important for Fwds. Refer to Whisperer Enterprise - Prices and Quantities.
• Regulatory - All regulatory regimes must be explicitly declared as in or out of scope. In scope regimes must be demonstrated to populate the required regfreg. fields correctly:
  • MTF - EDM/IDM - missing, wrong, correct - Client must observe and understand the Venue behaviour for each scenario. Refer to Regulatory Fields FAQ.
  • SEF
  • OFF

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Client must be able to receive orders for all the permutations and combinations of QuoteRequest above.

Execution Report

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https://confluence.marketfactory.com/download/attachments/11568412/RFQ_Test_Cases_Maker_03072019.xlsx
https://confluence.marketfactory.com/download/attachments/11568420/TCPITestCasesv5%200%20-SEF.xlsx

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Ensure that Client handles both deal acceptance and deal rejection.

Deal Acceptance

Regulatory - All regulatory regimes must be explicitly declared as in or out of scope. In scope regimes must be demonstrated to populate the required reg. fields correctly:

• MTF
• SEF
• OFF

Deal Rejection

Client should be able to send different rejection reasons, e.g. Credit check failure vs stale quote.

Client must be aware of availability of Custom error codes for:

• FXall QuickTrade
• Currenex RFS (TODO: Create page on TheSauce).

Venue-Specific Certification

Venue-specific scenarios should be exercised, to ensure that there are no surprises when Client/Venue conformance tests are performed:

• FXall QuickTrade
• Currenex RFS