Home » Press Releases » Klocwork Insight™ Ensures Software Security and Reliability for BIDS Trading’s Financial Trading System

Source code analysis a key component of software quality strategy for financial services firm


Burlington, Mass — May 01, 2012 — Klocwork Inc, the global leader in automated source code analysis (SCA) solutions for developing more secure and reliable software, today announced that BIDS Trading, operators of a major financial trading system for US institutional traders, has chosen Klocwork Insight to help ensure the security and reliability of its financial services software.

Founded in 2006 by a consortium of 11 large financial services firms, BIDS Trading operates the BIDS Alternative Trading System (ATS), a low cost, highly liquid, electronic trading service for block traders. The ATS was designed to foster competition, level the playing field in the U.S. equity market and address inefficiencies that impeded the trading of blocks of shares. The system allows users to trade large blocks of equities without sharing confidential information until a true trading opportunity is established. On average, more than 70 million shares are traded daily on the ATS.¹

"Our system has to be extremely reliable and secure, so we do everything that we can to ensure that our software works correctly and is developed in a secure way," said Jim Bird, co-founder and Chief Technology Officer, BIDS Trading. "At the same time, the development team is small and we move fast using Agile methods, so we need to get a lot out of the practices that we follow and the tools that we use."

As part of their quality assurance and security controls process, the development team at BIDS Trading uses an extensive set of tools and practices to ensure they hold to a high standard of software quality. Klocwork’s source code analysis capabilities are used both at the developer desktop and as part of their continuous integration environment to identify both common and difficult to find defects and security vulnerabilities.

"Our developers have learned to rely on Klocwork’s source code analysis tools," said Bird. "With coding mistakes identified and addressed, they can concentrate on higher-value work such as making sure that the software design is correct and the code is clean and maintainable."

Having been a proponent and user of static analysis technology for several years, BIDS Trading recently switched from a competitive product to Klocwork Insight. After a thorough product comparison process — which included running Klocwork Insight against a version of their code already analyzed by the competition — BIDS Trading determined that Klocwork offered more value.

Powered by a comprehensive static analysis engine, Klocwork Insight combines on-the-fly analysis, drag & drop build reporting, and cross-project impact analysis to deliver serious productivity gains to the entire software development process. To learn more, visit http://www.klocwork.com/products/insight/.

About BIDS Trading, L.P.

BIDS Trading, L.P. is a registered broker-dealer and the operator of the BIDS Alternative Trading System (ATS), which was designed to bring counterparties together to anonymously trade large blocks of shares. Developed by a consortium of leading financial services firms, BIDS Trading resolves the classic paradox of the block trader — the need to find legitimate trading counterparties without prematurely revealing trading intentions. For more information, visit www.bidstrading.com.

About Klocwork

Klocwork helps developers create more secure and reliable software. Our tools analyze source code on-the-fly, simplify peer code reviews, and extend the life of complex software. Over 1000 customers, including the biggest brands in the mobile device, consumer electronics, medical technologies, telecom, military and aerospace sectors, have made Klocwork part of their software development process. Thousands of software developers, architects, and development managers rely on our tools everyday to improve their productivity while creating better software.

Media Contact:
Meranda Powers
1.866.556.2967
press@klocwork.com

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Klocwork and Klocwork Truepath are registered trademarks of Klocwork Inc in the United States and/or other countries. All other names are trademarks or registered trademarks of their respective companies.

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