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    Calypso Case Study:
    CATT Implementation

    First Derivative was brought on board to help a Citizen’s Bank who were struggling with their releases. They had a large regression pack that needed to be executed prior to each release going live and the execution times were holding them back. After reviewing the test pack, we devised an implementation strategy that would provide the level of automation required and enable the client to adopt a self-sufficient model and maintain and enhance the packs themselves, without requiring additional support.


    The client had purchased CATT but didn’t have the necessary expertise to manage the software. They wanted internal teams to take ownership of the packs and needed an implementation methodology that would enable them to transition to a self-sufficient model. Crucially, the complex tests had been designed exclusively for a manual process – but the solution needed to be fully automated.

    What we did

    The first step was to understand the objectives behind each test case and translate the validation into a process that could be automated end to end. Next, we sized the implementation across each asset class and function area to provide the client with a detailed matrix of how much effort was required. The asset classes and functional areas were prioritised to give a phased view on how the implementation would look. We took ownership of the first three phases and included training services and built documentation that meant the client would be able to implement the remaining two phases themselves.

    Regular drops were provided to the client so they could understand how each test was working and were able to sign off on the methodology and the results. Midway through the implementation, the client was able to see the significant value add on offer and started using the packs for their project validation while the others were still being built out.


    • Fully automated trade entry, pricing, reporting, accounting, payments for Derivatives, Commodities and FX products
    • Trained staff on how to use CATT
    • Documented all test packs so the client could support them moving forward
    • Created repeatable solution that removed all human intervention
    • Implemented regression test pack that reduced the execution times from days to minutes


    • Pricing Validation 4 days reduced to 6 minutes
    • Report Reconciliation 7 days reduced to 40 minutes
    • Curve Validation 5 days reduced to 3 minutes
    • Accounting and Payments 100% Automated