Business requirements represent the starting point for more detailed specifications. FIXdom can help projects create functional and technical specifications from business requirements related to applications with programmable interfaces in the financial industry. Main areas of expertise are pre-trade, trade and post-trade across the major asset classes. This includes market and reference data as well as regulatory reporting.
Business requirements are often only available in a fairly unstructured format, e.g. as a slide set that was created to present a new idea to customers. It may also be from interviews conducted with representatives from the business area. It normally lacks a lot of detail and requires a breakdown into a number of separate elements as part of a functional specification.
A functional specification still describes what is needed and not how this can be achieved technically. The next step is to convert the functional specification into one or more technical specifications. These will focus on the technical architecture and design of the solution. They should have a structure that allows the development of test cases that can be linked back to the functional specification and ideally all the way to the business requirements. Such an approach supports the technical testing teams as well as those responsible for the business approval of the solution.
FIXdom can also support you in the use of TOGAF® (The Open Group Architecture Framework) for your projects. The TOGAF® Standard is an Enterprise Architecture methodology and framework to improve business efficiency.