Skytra selects Exactpro to test its new derivatives trading software

posted on 31st March 2020 by Eddie Saunders
Skytra selects Exactpro to test its new derivatives trading software

Skytra is a recently established Airbus company. Its goal is to provide an innovative solution for the air travel industry to hedge and manage its revenue volatility risks caused by short-term revenue visibility and support long-term financial planning for airline operators. Market participants will soon be able to trade cash-settled futures and options contracts based on Skytra Price Indices developed in collaboration with the air travel industry. 

As announced earlier, Skytra is applying for the Financial Conduct Authority (FCA) authorisation to act as a Benchmark Administrator and to operate a Multilateral Trading Facility (MTF). Nasdaq, the architect and provider of the world’s most widely adopted financial market infrastructure technology, will provide, host and manage the core technology for Skytra’s derivatives trading venue.

Skytra and Exactpro today announce that based on the results of a successful RFQ process, a Master Services Agreement between the two firms has been signed whereby Exactpro will provide various IT consultancy and software testing services to Skytra. The initial engagement will include Exactpro supporting functional testing of Skytra’s derivatives trading platform powered by Nasdaq.

Jeremy Norwood, CIO of Skytra, said: “Our timescales for launch are challenging, and we needed an experienced IT partner who could help us ensure that the delivered software works as per our business, operational and regulatory requirements. Exactpro will conduct a number of  independent, unbiased functional and regression test cycles as part of our overall delivery programme. I am confident that Exactpro, with its proven track record of successful delivery of quality assurance projects for the financial services industry, will provide exceptional service for Skytra.”

Alexey Zverev, Co-Founder and Director of Exactpro, said: “We are honoured to have been selected by Skytra to work on this ambitious undertaking in collaboration with our Skytra and Nasdaq colleagues. On our end, we have allocated an experienced agile project team equipped with our tools built for automated testing of our clients’ software.”