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The final loop of Stage 1 consolidates all component descriptions into a single document
with all of the trading rules and a single prototype and performance run. A final, consoli-
dation loop will address the main drawback of the spiral design model—endless loops.7.4. Outputs/Deliverables
At the completion of Stage 1, the project will encounter the first gate, a management
meeting. At this meeting management will expect several deliverables, including :● Full description of the trading system, including a Business Rules Catalog, a
detailed discussion of the quantitative methods and business logic.
● Referenced white papers or research papers that describe benchmarked
methodologies.
● Trading system performance metrics, software quality attributes and requirements.
● Complete consolidated prototype built in Excel or other modeling software.
● Complete performance test results appropriate to the type of trading system including
graphs, etc.
● Estimated time line and commitments for the backtesting stage.
● Estimated data and software expenses for the backtesting stage.The gate meeting will allow management to review the trading/investment system, as
well as the development process itself and the portfolio of competing systems. The team
should also go to the meeting armed with a recommendation on the prospects for the
strategy and a plan for moving forward to Stage 2.7.5. Summary
The requirements analysis and design stage of the development process yields specifica-
tions used for the implementation of the software tools of the trading/investment system.
Over the course of Stage 1, the product team will engage in evolutionary, test-driven
development, where every benchmarked method will have a prototype and tests that
verify its operation. It is well understood that the less functional the initial delivery, the
higher the quality of the final delivery. And, the more frequent the deliveries, the higher
is the final quality.^47.5. SUMMARY