Independent Software Vendor (ISV)

In our context the Test Service refers to the provision of connection to the test environment and related technical documents and testing facilities by HKEX-IS, which allows ISVs to conduct testing themselves. 

An ISV can perform testing on OMD-C and OMD-D datafeeds, subject to their business needs.

No, an ISV can only connect to the test environment.

As this Test Service is for testing on HKEX Orion Market Data Platform (OMD), an ISV can be a market data Information Vendor (IV), End User (EU); or a software company that makes and sells Market Data software to other clients.

EPs / IVs / EUs can benefit from having an option to either (i) conduct testing in test environment by themselves; or (ii) directly using software versions developed by ISVs without conducting testing which could save EPs / IVs / EUs’ costs, e.g. testing line fees and testing efforts

No, the Test Service is just available on Trading Days.

This Test Service currently only covers testing on Market Data test environment.  If the ISV wants to serve EP clients for OCG / HKATS End-to-End Test, the EP clients have to contact HKEX – Trading Operations for testing arrangements.

Yes. The ISV can and should conduct testing of one or multiple Connection Set(s) with at least a pair of testing lines.   

For example, with a pair of testing lines the ISV can perform testing on two Connection Sets for Securities Market Data; or one Connection Set for Securities and two Connection Sets for Derivatives.

The ISV is required to subscribe testing connections with sufficient bandwidth to support the testing, and make connection arrangement with network carriers accordingly.

No, there is no difference except that ISV can support clients with its software versions that had completed Certification / Readiness Test.  The ISV needs to follow the same Test Procedure, and shares the same test environment as other enrolled clients.

The ISV should refer to the Connectivity Guide on HKEX website for the connection setup.  In particular, the ISV can connect to OMD environment via SDNet/2 or HKEX Hosting Services Testing Network (HSTN).  Two lines of either SDNet/2 or HSTN are required.

The ISV should also estimate its bandwidth required to support the testing for itself and for its clients, and make connection arrangement with network carriers accordingly. 

The ISV can make arrangement with the two Accredited Vendors – HKT, and HKBN Enterprise Solution – for SDNet2 setup; or with HKEX Hosting Services for HSTN set-up.

No.  The Test Service only applies to testing in the test environment, i.e. Certification / Readiness test. 

For other testing arrangement, e.g. Market Rehearsal (MR) and Post Release Test (PRT), the client has to participate in the test by itself with its own production connections .

If the ISV subscribes for a Connection Set for Securities Market Data, it can test on all Securities datafeeds including SS, SP, SF and complimentary feeds.  Similarly if the ISV subscribes for a Connection Set for Derivatives Market Data, it can test on all Derivatives datafeeds including D-Lite, DS, DP, DF and complimentary feeds.

The ISV is required to subscribe testing connections with sufficient bandwidth to support the testing, and make connection arrangement with network carriers accordingly.

One Connection Set comprises one Retransmission Username (RTS ID) per subscribed OMD datafeed product (excluding complimentary feeds). As long as the bandwidth of the testing line is sufficient enough to support subscribed OMD datafeed products, a pair of testing lines can support multiple Connection Set.

For example, with one Connection Set for Securities market data, the ISV can get a maximum of three RTS IDs by subscribing for SS, SP and SF in OMD-C . On the other hand, with one Connection Set for Derivatives market data, a maximum of four RTS IDs could be obtained by subscribing for D-Lite, DS, DP and DF in OMD-D.

Test Charges are calculated per Connection Set.  To request for additional RTS IDs, the ISV would be charged on the additional Connection Set of Test Service. 

For the purpose of illustration, suppose an ISV subscribes for Securities Market Data Test Service:

The ISV needs to submit HKEX-IS the same form as other enrolled clients.  In addition, the ISV needs to submit a separate Declaration Form for Software Versions, which includes details of the software names and versions.  HKEX-IS would publish the related information on HKEX website.

Yes. The ISV shall provide HKEX-IS the list of clients using those software versions through the excel template Client Report under Test Service.  The ISV shall also update HKEX-IS upon any change to the client list with 2 weeks’ advance notice.

The fee rates are based on a cost-recovery basis on administrative work and vendor support service provided by HKEX-IS.  In addition, approximately 30% discount is given to monthly booking of Test Service.

Not necessarily.  The one-off registration fees apply to Securities and Derivatives Market Data separately.  For example, a new applicant subscribing for testing of both Securities and Derivatives Market Data should pay two sets of one-off registration fees, i.e. $20,000.

If the ISV is an existing HKEX licensed IV/EU or a Related Company of an existing HKEX licensed IV/EU as specified on Schedule 2 of Licence Agreement, the One-off Registration Fees will be waived; and the Test Charges will be subject to the prevailing HKEX-IS test charges policy.

For any incomplete month, fees will be charged on the daily rate or monthly rate, whichever is lower. Therefore, for Test Service for more than 14 trading days, the monthly rate would be payable so that ISVs can choose to test for the whole month.

If the ISV is late in paying any sums due to HKEX-IS by more than 30 days, HKEX-IS can terminate its Test Service immediately without notice. 

Also, both parties can without stating a reason terminate the Test Service by giving no less than 30 days' prior notice of termination in writing to the other party. Test Charges for the first 3 calendar months are non-refundable.

It should be noted that the status of ISV is terminated once the Test Service is terminated for whatever reason.

If a terminated ISV wants to subscribe for the Test Service again, the 3 months’ minimum subscription period and/or the One-off Registration Fees might still apply at HKEX-IS' discretion.

If reconnection or reactivation of the Test Service is only for HKEX-IS initiatives for which HKEX-IS requests/encourages clients to ascertain their readiness via end-to-end test, (i) the One-off Registration Fees ($10,000) and (ii) 3-month minimum subscription period would not apply to ISVs reconnecting after termination – subject to the final decision of HKEX-IS.

Subsequent to any ISV software that passes the Certification / Readiness Test, the ISV should update HKEX-IS on the software names and version by completing the Declaration Form for Software Versions.  

HKEX-IS will publish the related information on HKEX website.

HKEX-IS only provides Test Service to ISVs to enable them to verify the capability of their software of handling data transmitted from HKEX’s market data platforms. The successful completion of the Certification / Readiness Test by a software version should not be regarded as any form of co-operation with, or endorsement or authorization by HKEX-IS.  HKEX-IS does not guarantee the relevant software’s quality, reliability and suitability for their clients’ needs.

No.  Instead of the Declaration Form on the Test Procedures, the client should fill out a separate Declaration Form for Readiness (Using Independent Software Vendor’s Software).

Yes. The client needs to update HKEX-IS (HKEX-IS@hkex.com.hk) with 2 weeks’ advance notice if there is any change in the production connection, using ISV’s software version or change in using different ISV.