Purpose: Testing specific reporting scenarios in isolation.
Objectives:
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Validate reporting for each asset class & product type.
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Validate each applicable trade lifecycle (e.g., every action type/event combination expected)
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Test entity static data submissions.
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Test product static data submissions.
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Test eligibility of data submissions (if applicable).
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Test UPI lookup functionality (if applicable).
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Test UTI assist functionality (if applicable).
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Test collateral message submissions.
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Test valuation message submissions.
Data Requirements:
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Initial Load – Entity and product static data, as well as any additional reference data (Value Mapping lists) must be submitted prior to test trade submissions.
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Trade Submissions – Submit different product types traded in production.
Connection Method:
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Manual file uploads or automated submissions.
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Data must be in its final production-ready format.
Expectations:
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High degree of collaboration between the Client and KOR.
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Significant back-and-forth communication to address configuration changes.
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All changes and resolutions should be well documented.
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This is typically the longest testing phase.
What KOR Does
- Provides the Client with a high-level outline of expected test use cases.
- Reviews all submissions and any associated rejections through KOR’s integration team.
- Works with the Client to identify required updates to mapping documents and implements the necessary configuration changes.
- Identifies any development work or fixes required, and prioritizes these changes accordingly.
What the Client Does
- Identifies their unique products and events that require testing.
- Provides sample files for each test scenario.
- Reviews and responds to issues raised by KOR in relation to mapping documents or sample files.
- Ensures that appropriate subject matter experts (e.g., from compliance and operations) and technology resources are available to address questions, make file changes, or provide missing data as required.
Shared Environment Clients
- 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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Dependent on quality of initial mappings, clarity of use cases, and number of products.
- This phase is typically the longest in the testing process.
- Frequent and detailed daily communication between the Client and KOR is expected.
Generally 2 to 8 weeks.