Taker Tests

Market Data Handling

• test required for order modification

Subscription Requests

Snapshot Updates

Incremental Updates (Insert/Update/Delete through the book)

It is up to the subscriber to discard any order-book entries that get implicitly deleted due to insertion of new “better” levels that pushes entries outside the desired MarketDepth level. Such pushed out entries will not be explicitly deleted by MarketFactory.

Order Management

Step	Action	Expected Result	Result (if different from expected)	Sign Off
1	Client Places LIMIT IOC (far from top of book)	Client is able to process IOC with no fill (trade cancelled)
2	Client places LIMIT IOC	Client is able to process IOC fills
3	Client places LIMIT IOC at top of book	Client is able to process a partial fill
4	Client places LIMIT GTC (far from top of book) Client cancells GTC order	Client is able to cancel GTC order
5	Client places LIMIT GTC at top of book	Client is able to process GTC fill
6	Client places LIMIT GTC at top of book for large amount Client cancels remainder of order	Client is able to process a partial fill for GTC order Client is able to cancel GTC order

Client Order ID Uniqueness Constraints

These need to be unique for a full trading week rather than a single trading day:

• MF does the uniqueness validation of these, in preference to allowing the possibility of random production issues with random venues.
• Whisperer is bounced on a weekly basis and new ClOrdIDs are added to an in-memory hash 
• NOTE: This means that validation will FAIL after a Whisperer bounce. JIRA required.

Feed Down/Replay

Step	Action	Expected Result	Result (if different from expected)	Sign Off
1	Client places LIMIT GTC far from top of book MF forces customer to disconnect	Client receives subscription ERROR for market data trading
2	Client reconnects, re-subscription to trading and request replay	Client is able to re-subscribe to trading Client is able to request replay for the order that was cancelled on disconnect