|
Resolution prides itself on providing our clients with the best possible
derivative pricing products available in the market. To achieve this we follow
a robust 4 step development and testing process that ensures that our products
are mathematically 100% accurate, thoroughly tested and operationally robust.
1. Development of prototype models
- For each derivative type, construction of the prototype starts with an assessment of the standard market features from which a generalised pricing framework is derived with appropriate restrictions and assumptions, the pricing framework simplifies to the a set of well known specific pricing models.
- The prototypes are developed in Excel® and VBA to simplify initial testing
and verification of performance.
2. Software coding
The software coding process takes a holistic approach to ensure that our software
meets the highest possible standard. Some of the highlights of this process
are:
- A strong emphasis is placed on design prior to coding. All functionality is first developed in prototype form, either in a high-level language such as Visual Basic or in a spreadsheet for simpler functions. These prototypes then help to drive the requirements gathering and design phases of development.
- Agile software development practices are applied, while at the same time we adhere to strict coding standards and deliver software that provides benefits and value to our customers.
- A consistent framework and object model underlies all Resolution functionality. This framework allows additional or extended functionality to be added quickly and with relative ease.
- The Dynamic Link Libraries (DLL's) that power Resolution Pro are written in hand-optimised C++. Coding in C++ enables us to produce efficient and fast software that leads to the shortest possible execution times.
3. Software testing
Extensive manual and automated testing of the software is carried out to ensure that the software is accurate and reliable.
- Manual - This primarily involves User Interface (UI) testing which checks
for consistency, error reporting, ease of use and that the interface is intuitive.
- Automated testing - We have developed extensive in house custom tools that
run automated tests of the software to ensure technical accuracy and robustness.
- Testing against a range of "oracles" including;
- First principles mathematics
- Industry standards
- Internal consistency checks
- Known value tests
4. Continuous improvement
Resolution is continually looking for ways to improve the speed, accuracy and functionality of our software. To do this we are continually testing and refining our products. We value and take the feedback from our customers seriously and use it to further improve the functionality of our products.
|
