Exactpro announced that its test automation framework for post-trade, ClearTH, is available for software testing of Distributed Ledger Technology (DLT) applications built using DAML, the open-source smart contract language created by Digital Asset.
ClearTH automatically triggers different life cycle events, such as cash flow generation, trade execution, novation, termination, and simulates various potential actions of different parties involved in a business process, such as initiating transactions or accepting trades. It automates the validation of the functional workflow of swaps implemented in the IRS & CDS Swaps Lifecycle Module application developed by Digital Asset, which is based on ISDA’s Common Domain Model (CDM)
In addition to the simulation, the ClearTH framework has components that perform checks of the transaction results, including account balance totals, interest rates calculations, and of whether the trade was proposed, accepted or applied. The ClearTH test automation framework enables users to monitor and control the nodes of the DLT-based post-trade system, as well as re-execute the regression library covering complex multi-step business scenarios.
Iosif Itkin, CEO and co-founder of Exactpro said in a statement: “Expanding our testing suite’s capabilities and adapting it to emerging technologies is a goal within our long-term growth strategy.”
The continued evolution of large-scale DLT and blockchain projects underscores the need for standardization because new technologies adopted without standards can amplify disruption for the industry. DAML provides this standardization as well as the capacity to run on top of multiple blockchains, a crucial step towards shaping the industry standards for DLT. DAML allows parties to mutualize their processes and secure a golden source of truth with built-in privacy. As an open-source and platform-independent smart contract language, DAML enables the developers to write an application once and deploy it anywhere. DAML’s developer-oriented toolchain comes with an explicit security and correctness model.
Kelly Mathieson, chief client experience officer at Digital Asset, said in a statement: “Post-trade activities are a crucial part of the overall trade process. Any application, DLT-based included, needs to pass stringent testing requirements to ensure the software is mature enough to meet the demanding requirements of the post-trade processing landscape.”
The ClearTH framework solves two key problems related to the resilience of mission-critical financial technology platforms: it addresses the extreme complexity of both their structure and business logic and facilitates the process of migration of these platforms to a new stack of technological solutions by providing the functionalities of validation and verification.
Used on top of DAML-based applications, the testing provides a blockchain framework-agnostic testing inventory for DLT solutions, and addresses the challenges of test automation for DLT systems that are underpinned by different blockchain-inspired frameworks and enhanced with such industry standardization solutions as DAML and CDM.