Institutional-grade strategy testing from Quod Financial is now open to the community #
July 15, 2025 — London, United Kingdom — QuantReplay today announced the open-source release of its advanced, multi-asset trading simulator, designed to give quants, researchers, and trading professionals a powerful environment for testing and validating strategies.
Originally developed by Quod Financial for internal use, QuantReplay has been used by institutional trading teams to replicate complex market conditions, validate strategies, and enhance system resilience. Now, QuantReplay is being made publicly available as a free, open-source platform to empower the wider financial and open-source communities.
QuantReplay delivers high-fidelity simulation capabilities that reflect real-world market complexity across a broad range of asset classes, including equities, FX, futures, and digital assets. With traditional simulators often lacking in scope or realism, QuantReplay introduces an extensible, production-tested platform that meets the demands of modern trading teams.
“QuantReplay reflects years of development and refinement within Quod Financial’s institutional trading infrastructure,” said Medan Gabbay, Co-CEO of Quod Financial. “By releasing it to the public, we’re enabling developers and researchers everywhere to access the same simulation technology we’ve relied on internally, contributing to greater transparency and innovation in the trading ecosystem.”
Key Features of QuantReplay include:
- Historical data playback, for reconstructing real-world market scenarios
- Synthetic order flow modeling, to simulate varied liquidity and volatility conditions
- Stochastic order generation, enabling robust stress testing and edge case exploration
- A real-time simulation engine, supporting auction periods, continuous trading, and dynamic market phases
QuantReplay is now available on GitHub. The platform is designed to be fully open-source, welcoming contributions and collaboration from the global community of developers, traders, and researchers.
QuantReplay is now live and open to contributions on GitHub. To explore, deploy, or contribute to the project, visit quantreplay.com or github.com/quod-financial/quantreplay
About QuantReplay #
QuantReplay is an open-source, self-hosted market simulator that lets you test your trading strategies and execution applications in lifelike, order book-driven environments. It includes a fully-featured matching engine, market data generation, and customizable configurations—empowering you to design, validate, and fine-tune your algorithms with precision and confidence.
Join the community or contribute on GitHub.
For more information, visit quantreplay.com or contact us at info@quodfinancial.com
About Quod Financial #
Quod Financial delivers advanced multi-asset trading technology through Unity — a modular, cross-asset architecture designed to interconnect the full order lifecycle. Unity provides normalized integration across all trading workflows, empowering financial institutions to automate, customize, and scale their trading infrastructure without disruption.
Built on Unity, Quod’s product suite includes high-performance OMS, EMS, Smart Order Routing (SOR), Algorithmic Trading, Internalization of Liquidity, and dynamic market connectivity — all accessible through a flexible, data-driven, and AI-enhanced platform.
With Unity at the core, Quod Financial enables seamless trading across asset classes, delivering automation and innovation to meet the evolving demands of global e-trading.
For more information, visit: www.quodfinancial.com
Quod Marketing | +44 20 7997 7020 | marketing@quodfinancial.com
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FAQ #
- What is QuantReplay?
QuantReplay is an open-source, multi-asset market simulator designed to meet the demands of today’s trading technology landscape. It provides:
- Multi-Asset Support: Simulate order-driven markets including Equities, FX, Futures, Derivatives, and Digital Assets.
- Market Listings & Phases: Configure multiple venues with standard symbology, market rules, and distinct phases such as continuous trading and auctions.
- Matching Engine: Industry-standard price/time priority order book logic with full order lifecycle handling and configurable order types.
- Historical Data Playback: Replay multi-level market data from files or databases for realistic backtesting.
- Synthetic Order Generation: Inject realistic, pseudo-random orders to emulate live market activity, with control over price ranges, volumes, and update rates.
- Interfaces Built for Developers:
- FIX API for order flow and market data publishing.
- REST API for remote configuration and system monitoring.
- Lightweight, Scalable Deployment: Runs as a single native process per venue, fully dockerized for easy deployment to any environment.
- Recovery Options: Save system state for seamless restart and high-availability testing.
- How to get started with QuantReplay?
Visit: github.com/QuodFinancial/QuantReplay or Go through the detailed documentation to learn more .
- Is QuantReplay free to use?
QuantReplay is free, open source, and built for the community. Built by Quod Financial — a global leader in trading technology.
- Is QuantReplay open-source?
QuantReplay is designed with an open, community-first approach — extensible, adaptable, and welcoming contributions. The roadmap includes:
- Additional Market Phases: Support for auctions, trade-at-last phases, and more.
- Multi-Listed-Instruments: Synchronize price behavior across multiple listings of the same asset.
- Extreme Market Events: Schedule volatility spikes, market crashes, and stress scenarios.
- Client Simulation Mode: Run QuantReplay as a market participant to inject realistic order flows into third-party trading platforms.
- AI-Driven Market Simulation: Leverage Generative Adversarial Networks (GANs) for more advanced, real-time order generation that mirrors complex market dynamics.
- Quote-Driven Market Support: Extend to bilateral pricing workflows like FX streaming, RFQ (Request For Quote) models, and fixed income simulations.
- Why is QuantReplay free and open-source?
Quod Financial — a global leader in trading technology; believes the financial industry needs innovation —but innovation requires access.
- We want to democratize testing and automation. Most firms lack the tools or budgets to simulate real-world trading conditions. QuantReplay removes that barrier.
- We invite global collaboration. Developers and traders alike can build on QuantReplay, improving it for everyone.
- We're here to change the game. Quod Financial is committed to reshaping how trading tech is built and shared. Open-source is our way of giving back to the industry we serve.