190 CHAPTER ◆ 2 0 Plan and Document Technology Specifications
20.6. LOOP 2: Document Interface Requirements
Trading/investment systems bring together several disparate technologies that must work
together, including:● Relational databases.
● Real-time data feeds and FIX engines.
● Third-party APIs for execution, quant libraries, optimization, charting, and report
generation.
● Internal connections to risk management and accounting software.
● Client-based graphical user interfaces and reports.These disparate technologies, either proprietary or off-the-shelf, must be able to work
together. Glue code makes interoperability happen.20.7. LOOP 3: Document Hardware and
Network Requirements
The development team will base estimates of hardware and network capacity require-
ments for the trading/investment system on experience. Network facilities and support
tools include:● Front-end clients, database servers, network gateway servers, and peripherals.
● Network infrastructure, including cables, T1/T3 lines, hubs, routers, etc.
● TCP/IP, UDP, Tibco, etc.As with software development, the development team assigns responsibilities to develop
these facilities.20.8. Summary
The SRS is the foundation on which the architecture, design, and implementation
of a trading/investment system are built. While prototypes have been created for most
features, the team will encounter and address them one by one in an iterative fashion.
An iterative approach to planning and development reduces uncertainties. In this case, the
sources for the SRS are the completed documents and prototypes from previous stages:
business rules, quantitative methods, data cleaning algorithms, performance requirements,
system requirements, data maps, etc.
The push toward component-based software architectures means that many elements of
the trading/investment system architecture may be purchased as commercial off-the-shelf
(COTS) technology. Buy versus build decisions, and their trade-offs with functional-
ity, should be viewed within the context of the trading/investment system ’ s competitive
advantage, development time, and expense. Furthermore, the product team should have in
place processes for evaluating and benchmarking third-party components.