Purpose: Validating real-world production-like processing using historical data.
What is Tested:
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End-to-end processing of trades from a defined past period (e.g., 3 months). This is only NEWTS and their events/valuation/collateral in this period, not activity on trades open period to this period.
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Identification of operational issues not detected in scenario testing.
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Backloading of open positions to seed KOR’s trade state
Expectations:
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Data should be submitted in chronological order as it occurred in production.
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Submissions should mirror daily production processes but may include multiple historical days in sequence.
What KOR Does
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Reviews all submissions and any associated rejections through KOR’s integration team.
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Works with the Client to identify required updates to mapping documents and implements the necessary configuration changes.
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Identifies any development work or fixes required, and prioritizes these changes accordingly.
What Client does
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Determines the time period or volume of data to be included in testing.
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Gathers all necessary test data for the selected period.
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Submits the test data to KOR, ensuring that all events are reported in the correct chronological sequence.
Shared Environment Clients
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Because the environment cannot be reset on demand without affecting other clients, all UTIs must be modified to ensure they do not match production-reported UTIs when backload testing begins.
Estimated Duration:
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Typically 2 to 6 weeks.
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Must be completed after Scenario-Based UAT (User Acceptance Testing) & Connectivity Verification Test (CVT)
Note: If the testing involves new products that have not yet been traded, this phase will be minimal and may be fully addressed during the Scenario Testing phase.
How the Testing Process Differs for Existing Live Reporting
If you are already live in another jurisdiction with the current data feed, or live in the same jurisdiction but reporting a different asset class, the testing approach will be adjusted as follows:
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After the Scenario-Based Testing phase, the applicable rule sets will be merged.
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During the Historical Testing phase, data should be submitted for both the new trades and the currently live trades to confirm that there are no issues introduced by the new configuration.
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Reconciliations will be performed between the UAT and Production environments using this test data to ensure there is no unknown impact on existing reporting.