Move OrderValidationUtils (+ tests) and ExchangeTransferSimulator to order-utils

16 files changed, 786 insertions, 18 deletions

diff --git a/packages/order-utils/package.json b/packages/order-utils/package.json
index 6c5ad6780..e19827779 100644
--- a/packages/order-utils/package.json
+++ b/packages/order-utils/package.json
@@ -13,7 +13,7 @@
         "pre_build": "run-s update_artifacts generate_contract_wrappers",
         "transpile": "tsc",
         "copy_monorepo_scripts": "copyfiles -u 3 './lib/src/monorepo_scripts/**/*' ./scripts",
-        "generate_contract_wrappers": "abi-gen --abis 'lib/src/artifacts/@(Exchange|IWallet|IValidator).json' --template ../contract_templates/contract.handlebars --partials '../contract_templates/partials/**/*.handlebars' --output src/generated_contract_wrappers --backend ethers",
+        "generate_contract_wrappers": "abi-gen --abis 'lib/src/artifacts/@(Exchange|IWallet|IValidator|DummyERC20Token|ERC20Proxy).json' --template ../contract_templates/contract.handlebars --partials '../contract_templates/partials/**/*.handlebars' --output src/generated_contract_wrappers --backend ethers",
         "update_artifacts": "for i in ${npm_package_config_contracts}; do copyfiles -u 4 ../migrations/artifacts/2.0.0/$i.json lib/src/artifacts; done;",
         "test": "yarn run_mocha",
         "rebuild_and_test": "run-s build test",
@@ -29,7 +29,7 @@
         "upload_docs_json": "aws s3 cp generated_docs/index.json $S3_URL --profile 0xproject --grants read=uri=http://acs.amazonaws.com/groups/global/AllUsers --content-type application/json"
     },
     "config": {
-        "contracts": "IWallet IValidator Exchange",
+        "contracts": "IWallet IValidator Exchange DummyERC20Token ERC20Proxy",
         "postpublish": {
             "docPublishConfigs": {
                 "extraFileIncludes": [
@@ -52,6 +52,7 @@
     "homepage": "https://github.com/0xProject/0x-monorepo/packages/order-utils/README.md",
     "devDependencies": {
         "@0xproject/dev-utils": "^0.4.2",
+        "@0xproject/migrations": "^0.0.6",
         "@0xproject/monorepo-scripts": "^0.1.20",
         "@0xproject/tslint-config": "^0.4.18",
         "@types/ethereumjs-abi": "^0.6.0",
diff --git a/packages/order-utils/src/abstract/abstract_balance_and_proxy_allowance_fetcher.ts b/packages/order-utils/src/abstract/abstract_balance_and_proxy_allowance_fetcher.ts
index 857c6167f..b2760d98e 100644
--- a/packages/order-utils/src/abstract/abstract_balance_and_proxy_allowance_fetcher.ts
+++ b/packages/order-utils/src/abstract/abstract_balance_and_proxy_allowance_fetcher.ts
@@ -1,6 +1,6 @@
 import { BigNumber } from '@0xproject/utils';
 
 export abstract class AbstractBalanceAndProxyAllowanceFetcher {
-    public abstract async getBalanceAsync(tokenAddress: string, userAddress: string): Promise<BigNumber>;
-    public abstract async getProxyAllowanceAsync(tokenAddress: string, userAddress: string): Promise<BigNumber>;
+    public abstract async getBalanceAsync(assetData: string, userAddress: string): Promise<BigNumber>;
+    public abstract async getProxyAllowanceAsync(assetData: string, userAddress: string): Promise<BigNumber>;
 }
diff --git a/packages/order-utils/src/abstract/abstract_balance_and_proxy_allowance_lazy_store.ts b/packages/order-utils/src/abstract/abstract_balance_and_proxy_allowance_lazy_store.ts
new file mode 100644
index 000000000..38e08b7fe
--- /dev/null
+++ b/packages/order-utils/src/abstract/abstract_balance_and_proxy_allowance_lazy_store.ts
@@ -0,0 +1,11 @@
+import { BigNumber } from '@0xproject/utils';
+
+export abstract class AbstractBalanceAndProxyAllowanceLazyStore {
+    public abstract async getBalanceAsync(assetData: string, userAddress: string): Promise<BigNumber>;
+    public abstract async getProxyAllowanceAsync(assetData: string, userAddress: string): Promise<BigNumber>;
+    public abstract setBalance(assetData: string, userAddress: string, balance: BigNumber): void;
+    public abstract deleteBalance(assetData: string, userAddress: string): void;
+    public abstract setProxyAllowance(assetData: string, userAddress: string, proxyAllowance: BigNumber): void;
+    public abstract deleteProxyAllowance(assetData: string, userAddress: string): void;
+    public abstract deleteAll(): void;
+}
diff --git a/packages/order-utils/src/artifacts.ts b/packages/order-utils/src/artifacts.ts
index f6fd00472..3d2d1e953 100644
--- a/packages/order-utils/src/artifacts.ts
+++ b/packages/order-utils/src/artifacts.ts
@@ -1,10 +1,14 @@
-import { Artifact } from '@0xproject/types';
+import { ContractArtifact } from '@0xproject/sol-compiler';
 
+import * as DummyERC20Token from './artifacts/DummyERC20Token.json';
+import * as ERC20Proxy from './artifacts/ERC20Proxy.json';
 import * as Exchange from './artifacts/Exchange.json';
 import * as IValidator from './artifacts/IValidator.json';
 import * as IWallet from './artifacts/IWallet.json';
 export const artifacts = {
-    Exchange: (Exchange as any) as Artifact,
-    IWallet: (IWallet as any) as Artifact,
-    IValidator: (IValidator as any) as Artifact,
+    ERC20Proxy: (ERC20Proxy as any) as ContractArtifact,
+    DummyERC20Token: (DummyERC20Token as any) as ContractArtifact,
+    Exchange: (Exchange as any) as ContractArtifact,
+    IWallet: (IWallet as any) as ContractArtifact,
+    IValidator: (IValidator as any) as ContractArtifact,
 };
diff --git a/packages/order-utils/src/constants.ts b/packages/order-utils/src/constants.ts
index ec2fe744a..ed5bd8101 100644
--- a/packages/order-utils/src/constants.ts
+++ b/packages/order-utils/src/constants.ts
@@ -1,3 +1,8 @@
+import { BigNumber } from '@0xproject/utils';
+
 export const constants = {
     NULL_ADDRESS: '0x0000000000000000000000000000000000000000',
+    // tslint:disable-next-line:custom-no-magic-numbers
+    UNLIMITED_ALLOWANCE_IN_BASE_UNITS: new BigNumber(2).pow(256).minus(1),
+    TESTRPC_NETWORK_ID: 50,
 };
diff --git a/packages/order-utils/src/exchange_transfer_simulator.ts b/packages/order-utils/src/exchange_transfer_simulator.ts
new file mode 100644
index 000000000..1cb132aba
--- /dev/null
+++ b/packages/order-utils/src/exchange_transfer_simulator.ts
@@ -0,0 +1,114 @@
+import { ExchangeContractErrs } from '@0xproject/types';
+import { BigNumber } from '@0xproject/utils';
+import { BlockParamLiteral } from 'ethereum-types';
+
+import { AbstractBalanceAndProxyAllowanceLazyStore } from './abstract/abstract_balance_and_proxy_allowance_lazy_store';
+import { constants } from './constants';
+import { TradeSide, TransferType } from './types';
+
+enum FailureReason {
+    Balance = 'balance',
+    ProxyAllowance = 'proxyAllowance',
+}
+
+const ERR_MSG_MAPPING = {
+    [FailureReason.Balance]: {
+        [TradeSide.Maker]: {
+            [TransferType.Trade]: ExchangeContractErrs.InsufficientMakerBalance,
+            [TransferType.Fee]: ExchangeContractErrs.InsufficientMakerFeeBalance,
+        },
+        [TradeSide.Taker]: {
+            [TransferType.Trade]: ExchangeContractErrs.InsufficientTakerBalance,
+            [TransferType.Fee]: ExchangeContractErrs.InsufficientTakerFeeBalance,
+        },
+    },
+    [FailureReason.ProxyAllowance]: {
+        [TradeSide.Maker]: {
+            [TransferType.Trade]: ExchangeContractErrs.InsufficientMakerAllowance,
+            [TransferType.Fee]: ExchangeContractErrs.InsufficientMakerFeeAllowance,
+        },
+        [TradeSide.Taker]: {
+            [TransferType.Trade]: ExchangeContractErrs.InsufficientTakerAllowance,
+            [TransferType.Fee]: ExchangeContractErrs.InsufficientTakerFeeAllowance,
+        },
+    },
+};
+
+export class ExchangeTransferSimulator {
+    private _store: AbstractBalanceAndProxyAllowanceLazyStore;
+    private static _throwValidationError(
+        failureReason: FailureReason,
+        tradeSide: TradeSide,
+        transferType: TransferType,
+    ): never {
+        const errMsg = ERR_MSG_MAPPING[failureReason][tradeSide][transferType];
+        throw new Error(errMsg);
+    }
+    constructor(store: AbstractBalanceAndProxyAllowanceLazyStore) {
+        this._store = store;
+    }
+    /**
+     * Simulates transferFrom call performed by a proxy
+     * @param  assetData         Data of the asset being transferred. Includes
+     *                           it's identifying information and assetType,
+     *                           e.g address for ERC20, address & tokenId for ERC721
+     * @param  from              Owner of the transferred tokens
+     * @param  to                Recipient of the transferred tokens
+     * @param  amountInBaseUnits The amount of tokens being transferred
+     * @param  tradeSide         Is Maker/Taker transferring
+     * @param  transferType      Is it a fee payment or a value transfer
+     */
+    public async transferFromAsync(
+        assetData: string,
+        from: string,
+        to: string,
+        amountInBaseUnits: BigNumber,
+        tradeSide: TradeSide,
+        transferType: TransferType,
+    ): Promise<void> {
+        // HACK: When simulating an open order (e.g taker is NULL_ADDRESS), we don't want to adjust balances/
+        // allowances for the taker. We do however, want to increase the balance of the maker since the maker
+        // might be relying on those funds to fill subsequent orders or pay the order's fees.
+        if (from === constants.NULL_ADDRESS && tradeSide === TradeSide.Taker) {
+            await this._increaseBalanceAsync(assetData, to, amountInBaseUnits);
+            return;
+        }
+        const balance = await this._store.getBalanceAsync(assetData, from);
+        const proxyAllowance = await this._store.getProxyAllowanceAsync(assetData, from);
+        if (proxyAllowance.lessThan(amountInBaseUnits)) {
+            ExchangeTransferSimulator._throwValidationError(FailureReason.ProxyAllowance, tradeSide, transferType);
+        }
+        if (balance.lessThan(amountInBaseUnits)) {
+            ExchangeTransferSimulator._throwValidationError(FailureReason.Balance, tradeSide, transferType);
+        }
+        await this._decreaseProxyAllowanceAsync(assetData, from, amountInBaseUnits);
+        await this._decreaseBalanceAsync(assetData, from, amountInBaseUnits);
+        await this._increaseBalanceAsync(assetData, to, amountInBaseUnits);
+    }
+    private async _decreaseProxyAllowanceAsync(
+        assetData: string,
+        userAddress: string,
+        amountInBaseUnits: BigNumber,
+    ): Promise<void> {
+        const proxyAllowance = await this._store.getProxyAllowanceAsync(assetData, userAddress);
+        if (!proxyAllowance.eq(constants.UNLIMITED_ALLOWANCE_IN_BASE_UNITS)) {
+            this._store.setProxyAllowance(assetData, userAddress, proxyAllowance.minus(amountInBaseUnits));
+        }
+    }
+    private async _increaseBalanceAsync(
+        assetData: string,
+        userAddress: string,
+        amountInBaseUnits: BigNumber,
+    ): Promise<void> {
+        const balance = await this._store.getBalanceAsync(assetData, userAddress);
+        this._store.setBalance(assetData, userAddress, balance.plus(amountInBaseUnits));
+    }
+    private async _decreaseBalanceAsync(
+        assetData: string,
+        userAddress: string,
+        amountInBaseUnits: BigNumber,
+    ): Promise<void> {
+        const balance = await this._store.getBalanceAsync(assetData, userAddress);
+        this._store.setBalance(assetData, userAddress, balance.minus(amountInBaseUnits));
+    }
+}
diff --git a/packages/order-utils/src/index.ts b/packages/order-utils/src/index.ts
index 9e78c6b93..f9b37df82 100644
--- a/packages/order-utils/src/index.ts
+++ b/packages/order-utils/src/index.ts
@@ -19,3 +19,5 @@ export { AbstractOrderFilledCancelledFetcher } from './abstract/abstract_order_f
 export { RemainingFillableCalculator } from './remaining_fillable_calculator';
 export { OrderStateUtils } from './order_state_utils';
 export { assetProxyUtils } from './asset_proxy_utils';
+export { OrderValidationUtils } from './order_validation_utils';
+export { ExchangeTransferSimulator } from './exchange_transfer_simulator';
diff --git a/packages/order-utils/src/order_validation_utils.ts b/packages/order-utils/src/order_validation_utils.ts
new file mode 100644
index 000000000..4280e4d97
--- /dev/null
+++ b/packages/order-utils/src/order_validation_utils.ts
@@ -0,0 +1,223 @@
+import { ExchangeContractErrs, Order, SignedOrder } from '@0xproject/types';
+import { BigNumber } from '@0xproject/utils';
+import * as _ from 'lodash';
+
+import { OrderError, TradeSide, TransferType } from './types';
+
+import { constants } from './constants';
+import { ExchangeTransferSimulator } from './exchange_transfer_simulator';
+import { ExchangeContract } from './generated_contract_wrappers/exchange';
+import { orderHashUtils } from './order_hash';
+import { isValidECSignature, parseECSignature } from './signature_utils';
+import { utils } from './utils';
+
+export class OrderValidationUtils {
+    private _exchangeContract: ExchangeContract;
+    // TODO: Write some tests for the function
+    // const numerator = new BigNumber(20);
+    // const denominator = new BigNumber(999);
+    // const target = new BigNumber(50);
+    // rounding error = ((20*50/999) - floor(20*50/999)) / (20*50/999) = 0.1%
+    public static isRoundingError(numerator: BigNumber, denominator: BigNumber, target: BigNumber): boolean {
+        // Solidity's mulmod() in JS
+        // Source: https://solidity.readthedocs.io/en/latest/units-and-global-variables.html#mathematical-and-cryptographic-functions
+        if (denominator.eq(0)) {
+            throw new Error('denominator cannot be 0');
+        }
+        const remainder = target.mul(numerator).mod(denominator);
+        if (remainder.eq(0)) {
+            return false; // no rounding error
+        }
+
+        // tslint:disable-next-line:custom-no-magic-numbers
+        const errPercentageTimes1000000 = remainder.mul(1000000).div(numerator.mul(target));
+        // tslint:disable-next-line:custom-no-magic-numbers
+        const isError = errPercentageTimes1000000.gt(1000);
+        return isError;
+    }
+    public static validateCancelOrderThrowIfInvalid(
+        order: Order,
+        cancelTakerTokenAmount: BigNumber,
+        filledTakerTokenAmount: BigNumber,
+    ): void {
+        if (cancelTakerTokenAmount.eq(0)) {
+            throw new Error(ExchangeContractErrs.OrderCancelAmountZero);
+        }
+        if (order.takerAssetAmount.eq(filledTakerTokenAmount)) {
+            throw new Error(ExchangeContractErrs.OrderAlreadyCancelledOrFilled);
+        }
+        const currentUnixTimestampSec = utils.getCurrentUnixTimestampSec();
+        if (order.expirationTimeSeconds.lessThan(currentUnixTimestampSec)) {
+            throw new Error(ExchangeContractErrs.OrderCancelExpired);
+        }
+    }
+    public static async validateFillOrderBalancesAllowancesThrowIfInvalidAsync(
+        exchangeTradeEmulator: ExchangeTransferSimulator,
+        signedOrder: SignedOrder,
+        fillTakerTokenAmount: BigNumber,
+        senderAddress: string,
+        zrxTokenAddress: string,
+    ): Promise<void> {
+        const fillMakerTokenAmount = OrderValidationUtils._getPartialAmount(
+            fillTakerTokenAmount,
+            signedOrder.takerAssetAmount,
+            signedOrder.makerAssetAmount,
+        );
+        await exchangeTradeEmulator.transferFromAsync(
+            signedOrder.makerAssetData,
+            signedOrder.makerAddress,
+            senderAddress,
+            fillMakerTokenAmount,
+            TradeSide.Maker,
+            TransferType.Trade,
+        );
+        await exchangeTradeEmulator.transferFromAsync(
+            signedOrder.takerAssetData,
+            senderAddress,
+            signedOrder.makerAddress,
+            fillTakerTokenAmount,
+            TradeSide.Taker,
+            TransferType.Trade,
+        );
+        const makerFeeAmount = OrderValidationUtils._getPartialAmount(
+            fillTakerTokenAmount,
+            signedOrder.takerAssetAmount,
+            signedOrder.makerFee,
+        );
+        await exchangeTradeEmulator.transferFromAsync(
+            zrxTokenAddress,
+            signedOrder.makerAddress,
+            signedOrder.feeRecipientAddress,
+            makerFeeAmount,
+            TradeSide.Maker,
+            TransferType.Fee,
+        );
+        const takerFeeAmount = OrderValidationUtils._getPartialAmount(
+            fillTakerTokenAmount,
+            signedOrder.takerAssetAmount,
+            signedOrder.takerFee,
+        );
+        await exchangeTradeEmulator.transferFromAsync(
+            zrxTokenAddress,
+            senderAddress,
+            signedOrder.feeRecipientAddress,
+            takerFeeAmount,
+            TradeSide.Taker,
+            TransferType.Fee,
+        );
+    }
+    private static _validateRemainingFillAmountNotZeroOrThrow(
+        takerAssetAmount: BigNumber,
+        filledTakerTokenAmount: BigNumber,
+    ): void {
+        if (takerAssetAmount.eq(filledTakerTokenAmount)) {
+            throw new Error(ExchangeContractErrs.OrderRemainingFillAmountZero);
+        }
+    }
+    private static _validateOrderNotExpiredOrThrow(expirationTimeSeconds: BigNumber): void {
+        const currentUnixTimestampSec = utils.getCurrentUnixTimestampSec();
+        if (expirationTimeSeconds.lessThan(currentUnixTimestampSec)) {
+            throw new Error(ExchangeContractErrs.OrderFillExpired);
+        }
+    }
+    private static _getPartialAmount(numerator: BigNumber, denominator: BigNumber, target: BigNumber): BigNumber {
+        const fillMakerTokenAmount = numerator
+            .mul(target)
+            .div(denominator)
+            .round(0);
+        return fillMakerTokenAmount;
+    }
+    constructor(exchangeContract: ExchangeContract) {
+        this._exchangeContract = exchangeContract;
+    }
+    public async validateOrderFillableOrThrowAsync(
+        exchangeTradeEmulator: ExchangeTransferSimulator,
+        signedOrder: SignedOrder,
+        zrxTokenAddress: string,
+        expectedFillTakerTokenAmount?: BigNumber,
+    ): Promise<void> {
+        const orderHash = orderHashUtils.getOrderHashHex(signedOrder);
+        const filledTakerTokenAmount = await this._exchangeContract.filled.callAsync(orderHash);
+        OrderValidationUtils._validateRemainingFillAmountNotZeroOrThrow(
+            signedOrder.takerAssetAmount,
+            filledTakerTokenAmount,
+        );
+        OrderValidationUtils._validateOrderNotExpiredOrThrow(signedOrder.expirationTimeSeconds);
+        let fillTakerTokenAmount = signedOrder.takerAssetAmount.minus(filledTakerTokenAmount);
+        if (!_.isUndefined(expectedFillTakerTokenAmount)) {
+            fillTakerTokenAmount = expectedFillTakerTokenAmount;
+        }
+        await OrderValidationUtils.validateFillOrderBalancesAllowancesThrowIfInvalidAsync(
+            exchangeTradeEmulator,
+            signedOrder,
+            fillTakerTokenAmount,
+            signedOrder.takerAddress,
+            zrxTokenAddress,
+        );
+    }
+    public async validateFillOrderThrowIfInvalidAsync(
+        exchangeTradeEmulator: ExchangeTransferSimulator,
+        signedOrder: SignedOrder,
+        fillTakerTokenAmount: BigNumber,
+        takerAddress: string,
+        zrxTokenAddress: string,
+    ): Promise<BigNumber> {
+        if (fillTakerTokenAmount.eq(0)) {
+            throw new Error(ExchangeContractErrs.OrderFillAmountZero);
+        }
+        const orderHash = orderHashUtils.getOrderHashHex(signedOrder);
+        // TODO: Verify all signature types! To do this, we need access to a Provider...
+        const ecSignature = parseECSignature(signedOrder.signature);
+        if (!isValidECSignature(orderHash, ecSignature, signedOrder.makerAddress)) {
+            throw new Error(OrderError.InvalidSignature);
+        }
+        const filledTakerTokenAmount = await this._exchangeContract.filled.callAsync(orderHash);
+        OrderValidationUtils._validateRemainingFillAmountNotZeroOrThrow(
+            signedOrder.takerAssetAmount,
+            filledTakerTokenAmount,
+        );
+        if (signedOrder.takerAddress !== constants.NULL_ADDRESS && signedOrder.takerAddress !== takerAddress) {
+            throw new Error(ExchangeContractErrs.TransactionSenderIsNotFillOrderTaker);
+        }
+        OrderValidationUtils._validateOrderNotExpiredOrThrow(signedOrder.expirationTimeSeconds);
+        const remainingTakerTokenAmount = signedOrder.takerAssetAmount.minus(filledTakerTokenAmount);
+        const desiredFillTakerTokenAmount = remainingTakerTokenAmount.lessThan(fillTakerTokenAmount)
+            ? remainingTakerTokenAmount
+            : fillTakerTokenAmount;
+        await OrderValidationUtils.validateFillOrderBalancesAllowancesThrowIfInvalidAsync(
+            exchangeTradeEmulator,
+            signedOrder,
+            desiredFillTakerTokenAmount,
+            takerAddress,
+            zrxTokenAddress,
+        );
+
+        const wouldRoundingErrorOccur = await OrderValidationUtils.isRoundingError(
+            filledTakerTokenAmount,
+            signedOrder.takerAssetAmount,
+            signedOrder.makerAssetAmount,
+        );
+        if (wouldRoundingErrorOccur) {
+            throw new Error(ExchangeContractErrs.OrderFillRoundingError);
+        }
+        return filledTakerTokenAmount;
+    }
+    public async validateFillOrKillOrderThrowIfInvalidAsync(
+        exchangeTradeEmulator: ExchangeTransferSimulator,
+        signedOrder: SignedOrder,
+        fillTakerTokenAmount: BigNumber,
+        takerAddress: string,
+        zrxTokenAddress: string,
+    ): Promise<void> {
+        const filledTakerTokenAmount = await this.validateFillOrderThrowIfInvalidAsync(
+            exchangeTradeEmulator,
+            signedOrder,
+            fillTakerTokenAmount,
+            takerAddress,
+            zrxTokenAddress,
+        );
+        if (filledTakerTokenAmount !== fillTakerTokenAmount) {
+            throw new Error(ExchangeContractErrs.InsufficientRemainingFillAmount);
+        }
+    }
+}
diff --git a/packages/order-utils/src/signature_utils.ts b/packages/order-utils/src/signature_utils.ts
index c3fa0b6a5..44a7203a0 100644
--- a/packages/order-utils/src/signature_utils.ts
+++ b/packages/order-utils/src/signature_utils.ts
@@ -90,7 +90,7 @@ export async function isValidPresignedSignatureAsync(
     data: string,
     signerAddress: string,
 ): Promise<boolean> {
-    const exchangeContract = new ExchangeContract(artifacts.Exchange.abi, signerAddress, provider);
+    const exchangeContract = new ExchangeContract(artifacts.Exchange.compilerOutput.abi, signerAddress, provider);
     const isValid = await exchangeContract.preSigned.callAsync(data, signerAddress);
     return isValid;
 }
@@ -110,7 +110,7 @@ export async function isValidWalletSignatureAsync(
 ): Promise<boolean> {
     // tslint:disable-next-line:custom-no-magic-numbers
     const signatureWithoutType = signature.slice(-2);
-    const walletContract = new IWalletContract(artifacts.IWallet.abi, signerAddress, provider);
+    const walletContract = new IWalletContract(artifacts.IWallet.compilerOutput.abi, signerAddress, provider);
     const isValid = await walletContract.isValidSignature.callAsync(data, signatureWithoutType);
     return isValid;
 }
@@ -129,7 +129,7 @@ export async function isValidValidatorSignatureAsync(
     signerAddress: string,
 ): Promise<boolean> {
     const validatorSignature = parseValidatorSignature(signature);
-    const exchangeContract = new ExchangeContract(artifacts.Exchange.abi, signerAddress, provider);
+    const exchangeContract = new ExchangeContract(artifacts.Exchange.compilerOutput.abi, signerAddress, provider);
     const isValidatorApproved = await exchangeContract.allowedValidators.callAsync(
         signerAddress,
         validatorSignature.validatorAddress,
@@ -138,7 +138,7 @@ export async function isValidValidatorSignatureAsync(
         throw new Error(`Validator ${validatorSignature.validatorAddress} was not pre-approved by ${signerAddress}.`);
     }
 
-    const validatorContract = new IValidatorContract(artifacts.IValidator.abi, signerAddress, provider);
+    const validatorContract = new IValidatorContract(artifacts.IValidator.compilerOutput.abi, signerAddress, provider);
     const isValid = await validatorContract.isValidSignature.callAsync(
         data,
         signerAddress,
@@ -260,12 +260,12 @@ export function addSignedMessagePrefix(message: string, messagePrefixType: Messa
     }
 }
 
-function hashTrezorPersonalMessage(message: Buffer): Buffer {
-    const prefix = ethUtil.toBuffer('\x19Ethereum Signed Message:\n' + String.fromCharCode(message.length));
-    return ethUtil.sha3(Buffer.concat([prefix, message]));
-}
-
-function parseECSignature(signature: string): ECSignature {
+/**
+ * Parse a 0x protocol hex-encoded signature string into it's ECSignature components
+ * @param signature A hex encoded ecSignature 0x Protocol signature
+ * @return An ECSignature object with r,s,v parameters
+ */
+export function parseECSignature(signature: string): ECSignature {
     const ecSignatureTypes = [SignatureType.EthSign, SignatureType.EIP712, SignatureType.Trezor];
     assert.isOneOfExpectedSignatureTypes(signature, ecSignatureTypes);
 
@@ -276,6 +276,11 @@ function parseECSignature(signature: string): ECSignature {
     return ecSignature;
 }
 
+function hashTrezorPersonalMessage(message: Buffer): Buffer {
+    const prefix = ethUtil.toBuffer('\x19Ethereum Signed Message:\n' + String.fromCharCode(message.length));
+    return ethUtil.sha3(Buffer.concat([prefix, message]));
+}
+
 function parseValidatorSignature(signature: string): ValidatorSignature {
     assert.isOneOfExpectedSignatureTypes(signature, [SignatureType.Validator]);
     // tslint:disable:custom-no-magic-numbers
diff --git a/packages/order-utils/src/store/balance_and_proxy_allowance_lazy_store.ts b/packages/order-utils/src/store/balance_and_proxy_allowance_lazy_store.ts
new file mode 100644
index 000000000..b5bd2801a
--- /dev/null
+++ b/packages/order-utils/src/store/balance_and_proxy_allowance_lazy_store.ts
@@ -0,0 +1,82 @@
+import { BigNumber } from '@0xproject/utils';
+import { BlockParamLiteral } from 'ethereum-types';
+import * as _ from 'lodash';
+
+import { AbstractBalanceAndProxyAllowanceFetcher } from '../abstract/abstract_balance_and_proxy_allowance_fetcher';
+import { AbstractBalanceAndProxyAllowanceLazyStore } from '../abstract/abstract_balance_and_proxy_allowance_lazy_store';
+
+/**
+ * Copy on read store for balances/proxyAllowances of tokens/accounts
+ */
+export class BalanceAndProxyAllowanceLazyStore implements AbstractBalanceAndProxyAllowanceLazyStore {
+    private _balanceAndProxyAllowanceFetcher: AbstractBalanceAndProxyAllowanceFetcher;
+    private _balance: {
+        [assetData: string]: {
+            [userAddress: string]: BigNumber;
+        };
+    };
+    private _proxyAllowance: {
+        [assetData: string]: {
+            [userAddress: string]: BigNumber;
+        };
+    };
+    constructor(token: AbstractBalanceAndProxyAllowanceFetcher) {
+        this._balanceAndProxyAllowanceFetcher = token;
+        this._balance = {};
+        this._proxyAllowance = {};
+    }
+    public async getBalanceAsync(assetData: string, userAddress: string): Promise<BigNumber> {
+        if (_.isUndefined(this._balance[assetData]) || _.isUndefined(this._balance[assetData][userAddress])) {
+            const balance = await this._balanceAndProxyAllowanceFetcher.getBalanceAsync(assetData, userAddress);
+            this.setBalance(assetData, userAddress, balance);
+        }
+        const cachedBalance = this._balance[assetData][userAddress];
+        return cachedBalance;
+    }
+    public setBalance(assetData: string, userAddress: string, balance: BigNumber): void {
+        if (_.isUndefined(this._balance[assetData])) {
+            this._balance[assetData] = {};
+        }
+        this._balance[assetData][userAddress] = balance;
+    }
+    public deleteBalance(assetData: string, userAddress: string): void {
+        if (!_.isUndefined(this._balance[assetData])) {
+            delete this._balance[assetData][userAddress];
+            if (_.isEmpty(this._balance[assetData])) {
+                delete this._balance[assetData];
+            }
+        }
+    }
+    public async getProxyAllowanceAsync(assetData: string, userAddress: string): Promise<BigNumber> {
+        if (
+            _.isUndefined(this._proxyAllowance[assetData]) ||
+            _.isUndefined(this._proxyAllowance[assetData][userAddress])
+        ) {
+            const proxyAllowance = await this._balanceAndProxyAllowanceFetcher.getProxyAllowanceAsync(
+                assetData,
+                userAddress,
+            );
+            this.setProxyAllowance(assetData, userAddress, proxyAllowance);
+        }
+        const cachedProxyAllowance = this._proxyAllowance[assetData][userAddress];
+        return cachedProxyAllowance;
+    }
+    public setProxyAllowance(assetData: string, userAddress: string, proxyAllowance: BigNumber): void {
+        if (_.isUndefined(this._proxyAllowance[assetData])) {
+            this._proxyAllowance[assetData] = {};
+        }
+        this._proxyAllowance[assetData][userAddress] = proxyAllowance;
+    }
+    public deleteProxyAllowance(assetData: string, userAddress: string): void {
+        if (!_.isUndefined(this._proxyAllowance[assetData])) {
+            delete this._proxyAllowance[assetData][userAddress];
+            if (_.isEmpty(this._proxyAllowance[assetData])) {
+                delete this._proxyAllowance[assetData];
+            }
+        }
+    }
+    public deleteAll(): void {
+        this._balance = {};
+        this._proxyAllowance = {};
+    }
+}
diff --git a/packages/order-utils/src/types.ts b/packages/order-utils/src/types.ts
index db0bfb249..3f1fce66d 100644
--- a/packages/order-utils/src/types.ts
+++ b/packages/order-utils/src/types.ts
@@ -23,3 +23,13 @@ export interface MessagePrefixOpts {
     prefixType: MessagePrefixType;
     shouldAddPrefixBeforeCallingEthSign: boolean;
 }
+
+export enum TradeSide {
+    Maker = 'maker',
+    Taker = 'taker',
+}
+
+export enum TransferType {
+    Trade = 'trade',
+    Fee = 'fee',
+}
diff --git a/packages/order-utils/src/utils.ts b/packages/order-utils/src/utils.ts
index 3b465cece..6149316f6 100644
--- a/packages/order-utils/src/utils.ts
+++ b/packages/order-utils/src/utils.ts
@@ -1,3 +1,5 @@
+import { BigNumber } from '@0xproject/utils';
+
 export const utils = {
     getSignatureTypeIndexIfExists(signature: string): number {
         // tslint:disable-next-line:custom-no-magic-numbers
@@ -6,4 +8,8 @@ export const utils = {
         const signatureTypeInt = parseInt(signatureTypeHex, base);
         return signatureTypeInt;
     },
+    getCurrentUnixTimestampSec(): BigNumber {
+        const milisecondsInSecond = 1000;
+        return new BigNumber(Date.now() / milisecondsInSecond).round();
+    },
 };
diff --git a/packages/order-utils/test/exchange_transfer_simulator_test.ts b/packages/order-utils/test/exchange_transfer_simulator_test.ts
new file mode 100644
index 000000000..3e35f900e
--- /dev/null
+++ b/packages/order-utils/test/exchange_transfer_simulator_test.ts
@@ -0,0 +1,164 @@
+import { BlockchainLifecycle } from '@0xproject/dev-utils';
+import { ExchangeContractErrs, Token } from '@0xproject/types';
+import { BigNumber } from '@0xproject/utils';
+import * as chai from 'chai';
+import { BlockParamLiteral } from 'ethereum-types';
+import * as _ from 'lodash';
+import 'make-promises-safe';
+
+import { artifacts } from '../src/artifacts';
+import { constants } from '../src/constants';
+import { ExchangeTransferSimulator } from '../src/exchange_transfer_simulator';
+import { DummyERC20TokenContract } from '../src/generated_contract_wrappers/dummy_e_r_c20_token';
+import { BalanceAndProxyAllowanceLazyStore } from '../src/store/balance_and_proxy_allowance_lazy_store';
+import { TradeSide, TransferType } from '../src/types';
+
+import { chaiSetup } from './utils/chai_setup';
+import { SimpleERC20BalanceAndProxyAllowanceFetcher } from './utils/simple_erc20_balance_and_proxy_allowance_fetcher';
+import { provider, web3Wrapper } from './utils/web3_wrapper';
+
+chaiSetup.configure();
+const expect = chai.expect;
+const blockchainLifecycle = new BlockchainLifecycle(web3Wrapper);
+
+describe('ExchangeTransferSimulator', async () => {
+    const transferAmount = new BigNumber(5);
+    let userAddresses: string[];
+    let dummyERC20Token: DummyERC20TokenContract;
+    let coinbase: string;
+    let sender: string;
+    let recipient: string;
+    let exampleTokenAddress: string;
+    let exchangeTransferSimulator: ExchangeTransferSimulator;
+    let txHash: string;
+    let erc20ProxyAddress: string;
+    before(async () => {
+        userAddresses = await web3Wrapper.getAvailableAddressesAsync();
+        [coinbase, sender, recipient] = userAddresses;
+
+        erc20ProxyAddress = getAddressFromArtifact(artifacts.ERC20Proxy, constants.TESTRPC_NETWORK_ID);
+
+        const wethArtifact = artifacts.DummyERC20Token;
+        const wethAddress = getAddressFromArtifact(wethArtifact, constants.TESTRPC_NETWORK_ID);
+        dummyERC20Token = new DummyERC20TokenContract(
+            artifacts.DummyERC20Token.compilerOutput.abi,
+            wethAddress,
+            provider,
+        );
+        exampleTokenAddress = dummyERC20Token.address;
+    });
+    beforeEach(async () => {
+        await blockchainLifecycle.startAsync();
+    });
+    afterEach(async () => {
+        await blockchainLifecycle.revertAsync();
+    });
+    describe('#transferFromAsync', function(): void {
+        // HACK: For some reason these tests need a slightly longer timeout
+        const mochaTestTimeoutMs = 3000;
+        this.timeout(mochaTestTimeoutMs);
+
+        beforeEach(() => {
+            const simpleERC20BalanceAndProxyAllowanceFetcher = new SimpleERC20BalanceAndProxyAllowanceFetcher(
+                dummyERC20Token,
+                erc20ProxyAddress,
+            );
+            const balanceAndProxyAllowanceLazyStore = new BalanceAndProxyAllowanceLazyStore(
+                simpleERC20BalanceAndProxyAllowanceFetcher,
+            );
+            exchangeTransferSimulator = new ExchangeTransferSimulator(balanceAndProxyAllowanceLazyStore);
+        });
+        it("throws if the user doesn't have enough allowance", async () => {
+            return expect(
+                exchangeTransferSimulator.transferFromAsync(
+                    exampleTokenAddress,
+                    sender,
+                    recipient,
+                    transferAmount,
+                    TradeSide.Taker,
+                    TransferType.Trade,
+                ),
+            ).to.be.rejectedWith(ExchangeContractErrs.InsufficientTakerAllowance);
+        });
+        it("throws if the user doesn't have enough balance", async () => {
+            txHash = await dummyERC20Token.approve.sendTransactionAsync(erc20ProxyAddress, transferAmount, {
+                from: sender,
+            });
+            await web3Wrapper.awaitTransactionSuccessAsync(txHash);
+            return expect(
+                exchangeTransferSimulator.transferFromAsync(
+                    exampleTokenAddress,
+                    sender,
+                    recipient,
+                    transferAmount,
+                    TradeSide.Maker,
+                    TransferType.Trade,
+                ),
+            ).to.be.rejectedWith(ExchangeContractErrs.InsufficientMakerBalance);
+        });
+        it('updates balances and proxyAllowance after transfer', async function(): Promise<void> {
+            txHash = await dummyERC20Token.transfer.sendTransactionAsync(sender, transferAmount, {
+                from: coinbase,
+            });
+            await web3Wrapper.awaitTransactionSuccessAsync(txHash);
+
+            txHash = await dummyERC20Token.approve.sendTransactionAsync(erc20ProxyAddress, transferAmount, {
+                from: sender,
+            });
+            await web3Wrapper.awaitTransactionSuccessAsync(txHash);
+
+            await exchangeTransferSimulator.transferFromAsync(
+                exampleTokenAddress,
+                sender,
+                recipient,
+                transferAmount,
+                TradeSide.Taker,
+                TransferType.Trade,
+            );
+            const store = (exchangeTransferSimulator as any)._store;
+            const senderBalance = await store.getBalanceAsync(exampleTokenAddress, sender);
+            const recipientBalance = await store.getBalanceAsync(exampleTokenAddress, recipient);
+            const senderProxyAllowance = await store.getProxyAllowanceAsync(exampleTokenAddress, sender);
+            expect(senderBalance).to.be.bignumber.equal(0);
+            expect(recipientBalance).to.be.bignumber.equal(transferAmount);
+            expect(senderProxyAllowance).to.be.bignumber.equal(0);
+        });
+        it("doesn't update proxyAllowance after transfer if unlimited", async () => {
+            txHash = await dummyERC20Token.transfer.sendTransactionAsync(sender, transferAmount, {
+                from: coinbase,
+            });
+            await web3Wrapper.awaitTransactionSuccessAsync(txHash);
+            txHash = await dummyERC20Token.approve.sendTransactionAsync(
+                erc20ProxyAddress,
+                constants.UNLIMITED_ALLOWANCE_IN_BASE_UNITS,
+                {
+                    from: sender,
+                },
+            );
+            await web3Wrapper.awaitTransactionSuccessAsync(txHash);
+            await exchangeTransferSimulator.transferFromAsync(
+                exampleTokenAddress,
+                sender,
+                recipient,
+                transferAmount,
+                TradeSide.Taker,
+                TransferType.Trade,
+            );
+            const store = (exchangeTransferSimulator as any)._store;
+            const senderBalance = await store.getBalanceAsync(exampleTokenAddress, sender);
+            const recipientBalance = await store.getBalanceAsync(exampleTokenAddress, recipient);
+            const senderProxyAllowance = await store.getProxyAllowanceAsync(exampleTokenAddress, sender);
+            expect(senderBalance).to.be.bignumber.equal(0);
+            expect(recipientBalance).to.be.bignumber.equal(transferAmount);
+            expect(senderProxyAllowance).to.be.bignumber.equal(constants.UNLIMITED_ALLOWANCE_IN_BASE_UNITS);
+        });
+    });
+});
+
+function getAddressFromArtifact(artifact: any, networkId: number): string {
+    if (_.isUndefined(artifact.networks[networkId])) {
+        throw new Error(`Contract ${artifact.contractName} not deployed to network ${networkId}`);
+    }
+    const contractAddress = artifact.networks[networkId].address.toLowerCase();
+    return contractAddress;
+}
diff --git a/packages/order-utils/test/global_hooks_test.ts b/packages/order-utils/test/global_hooks_test.ts
new file mode 100644
index 000000000..662a2cb0f
--- /dev/null
+++ b/packages/order-utils/test/global_hooks_test.ts
@@ -0,0 +1,45 @@
+import { devConstants } from '@0xproject/dev-utils';
+import { ArtifactWriter } from '@0xproject/migrations';
+import { BigNumber } from '@0xproject/utils';
+
+import { artifacts } from '../src/artifacts';
+import { constants } from '../src/constants';
+import { DummyERC20TokenContract } from '../src/generated_contract_wrappers/dummy_e_r_c20_token';
+import { ERC20ProxyContract } from '../src/generated_contract_wrappers/e_r_c20_proxy';
+
+import { provider } from './utils/web3_wrapper';
+
+before('migrate contracts', async function(): Promise<void> {
+    // HACK: Since contract migrations take longer then our global mocha timeout limit
+    // we manually increase it for this before hook.
+    const mochaTestTimeoutMs = 20000;
+    this.timeout(mochaTestTimeoutMs);
+
+    const txDefaults = {
+        gas: devConstants.GAS_LIMIT,
+        from: devConstants.TESTRPC_FIRST_ADDRESS,
+    };
+
+    const networkId = constants.TESTRPC_NETWORK_ID;
+    const artifactsDir = `lib/src/artifacts`;
+    const artifactsWriter = new ArtifactWriter(artifactsDir, networkId);
+
+    const erc20proxy = await ERC20ProxyContract.deployFrom0xArtifactAsync(artifacts.ERC20Proxy, provider, txDefaults);
+    artifactsWriter.saveArtifact(erc20proxy);
+
+    const totalSupply = new BigNumber(100000000000000000000);
+    const name = 'Test';
+    const symbol = 'TST';
+    const decimals = new BigNumber(18);
+    // tslint:disable-next-line:no-unused-variable
+    const dummyErc20Token = await DummyERC20TokenContract.deployFrom0xArtifactAsync(
+        artifacts.DummyERC20Token,
+        provider,
+        txDefaults,
+        name,
+        symbol,
+        decimals,
+        totalSupply,
+    );
+    artifactsWriter.saveArtifact(dummyErc20Token);
+});
diff --git a/packages/order-utils/test/order_validation_utils_test.ts b/packages/order-utils/test/order_validation_utils_test.ts
new file mode 100644
index 000000000..d3ff867d7
--- /dev/null
+++ b/packages/order-utils/test/order_validation_utils_test.ts
@@ -0,0 +1,70 @@
+import { BigNumber } from '@0xproject/utils';
+import * as chai from 'chai';
+import 'mocha';
+
+import { OrderValidationUtils } from '../src/order_validation_utils';
+
+import { chaiSetup } from './utils/chai_setup';
+
+chaiSetup.configure();
+const expect = chai.expect;
+
+describe('OrderValidationUtils', () => {
+    describe('#isRoundingError', () => {
+        it('should return false if there is a rounding error of 0.1%', async () => {
+            const numerator = new BigNumber(20);
+            const denominator = new BigNumber(999);
+            const target = new BigNumber(50);
+            // rounding error = ((20*50/999) - floor(20*50/999)) / (20*50/999) = 0.1%
+            const isRoundingError = OrderValidationUtils.isRoundingError(numerator, denominator, target);
+            expect(isRoundingError).to.be.false();
+        });
+
+        it('should return false if there is a rounding of 0.09%', async () => {
+            const numerator = new BigNumber(20);
+            const denominator = new BigNumber(9991);
+            const target = new BigNumber(500);
+            // rounding error = ((20*500/9991) - floor(20*500/9991)) / (20*500/9991) = 0.09%
+            const isRoundingError = OrderValidationUtils.isRoundingError(numerator, denominator, target);
+            expect(isRoundingError).to.be.false();
+        });
+
+        it('should return true if there is a rounding error of 0.11%', async () => {
+            const numerator = new BigNumber(20);
+            const denominator = new BigNumber(9989);
+            const target = new BigNumber(500);
+            // rounding error = ((20*500/9989) - floor(20*500/9989)) / (20*500/9989) = 0.011%
+            const isRoundingError = OrderValidationUtils.isRoundingError(numerator, denominator, target);
+            expect(isRoundingError).to.be.true();
+        });
+
+        it('should return true if there is a rounding error > 0.1%', async () => {
+            const numerator = new BigNumber(3);
+            const denominator = new BigNumber(7);
+            const target = new BigNumber(10);
+            // rounding error = ((3*10/7) - floor(3*10/7)) / (3*10/7) = 6.67%
+            const isRoundingError = OrderValidationUtils.isRoundingError(numerator, denominator, target);
+            expect(isRoundingError).to.be.true();
+        });
+
+        it('should return false when there is no rounding error', async () => {
+            const numerator = new BigNumber(1);
+            const denominator = new BigNumber(2);
+            const target = new BigNumber(10);
+
+            const isRoundingError = OrderValidationUtils.isRoundingError(numerator, denominator, target);
+            expect(isRoundingError).to.be.false();
+        });
+
+        it('should return false when there is rounding error <= 0.1%', async () => {
+            // randomly generated numbers
+            const numerator = new BigNumber(76564);
+            const denominator = new BigNumber(676373677);
+            const target = new BigNumber(105762562);
+            // rounding error = ((76564*105762562/676373677) - floor(76564*105762562/676373677)) /
+            // (76564*105762562/676373677) = 0.0007%
+            const isRoundingError = OrderValidationUtils.isRoundingError(numerator, denominator, target);
+            expect(isRoundingError).to.be.false();
+        });
+    });
+});
diff --git a/packages/order-utils/test/utils/simple_erc20_balance_and_proxy_allowance_fetcher.ts b/packages/order-utils/test/utils/simple_erc20_balance_and_proxy_allowance_fetcher.ts
new file mode 100644
index 000000000..29b9a128b
--- /dev/null
+++ b/packages/order-utils/test/utils/simple_erc20_balance_and_proxy_allowance_fetcher.ts
@@ -0,0 +1,26 @@
+import { BigNumber } from '@0xproject/utils';
+
+import { AbstractBalanceAndProxyAllowanceFetcher } from '../../src/abstract/abstract_balance_and_proxy_allowance_fetcher';
+
+import { ERC20TokenContract } from '../../src/generated_contract_wrappers/e_r_c20_token';
+
+export class SimpleERC20BalanceAndProxyAllowanceFetcher implements AbstractBalanceAndProxyAllowanceFetcher {
+    private _erc20TokenContract: ERC20TokenContract;
+    private _erc20ProxyAddress: string;
+    constructor(erc20TokenWrapper: ERC20TokenContract, erc20ProxyAddress: string) {
+        this._erc20TokenContract = erc20TokenWrapper;
+        this._erc20ProxyAddress = erc20ProxyAddress;
+    }
+    public async getBalanceAsync(assetData: string, userAddress: string): Promise<BigNumber> {
+        // HACK: We cheat and don't pass in the userData since it's always the same token used
+        // in our tests.
+        const balance = await this._erc20TokenContract.balanceOf.callAsync(userAddress);
+        return balance;
+    }
+    public async getProxyAllowanceAsync(assetData: string, userAddress: string): Promise<BigNumber> {
+        // HACK: We cheat and don't pass in the userData since it's always the same token used
+        // in our tests.
+        const proxyAllowance = await this._erc20TokenContract.allowance.callAsync(userAddress, this._erc20ProxyAddress);
+        return proxyAllowance;
+    }
+}