Agile development practices allowed Turquoise, the trading facility established by nine leading European investment banks, to formally launch this week, just 10 months after work on the platform begun.
Sophisticated technology, rapid build and deployment were vital to ensure Turquoise could compete as a new trading facility in a rapidly growing market place. That meant bringing in an outside testing partner, AppLabs to speed the process, according to Yann L’Huillier, chief technology officer of Turquoise.
"Designed to compete with incumbent exchanges and alternative venues, we differentiate on technology, costs and the quality of our services. We needed an experienced and unbiased testing partner to make sure our platform is functionally reliable, robust and efficient, which are critical to our success," L’Huillier said.
Turquoise, a pan-European electronic trading platform, was launched to compete with established players such as the London Stock Exchange. The multi-lateral trading facility was backed by nine leading banks: BNP Paribas, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, Merrill Lynch, Morgan Stanley, Société Générale and UBS.
Turquoise chose AppLabs as its sole testing partner. "Turquoise has a staff of 40 and did not want to have a team of 25 people carrying out testing and quality assurance," said L’Huillier.
“We have a quality assurance (QA) manager and a small number of people testing and add AppLabs staff when we have big releases to test. In addition, we needed to launch the platform in eight months and it is impossible to form a full QA team of this magnitude in that timeframe.”
James Milne, the AppLabs consultant at Turquoise said testing followed the usual agile development format with code being developed and released in short sprints, and testing being executed after each delivery.