diff --git a/programs/mango-v4/tests/program_test/mango_client.rs b/programs/mango-v4/tests/program_test/mango_client.rs
index 4216d106e..e40958791 100644
--- a/programs/mango-v4/tests/program_test/mango_client.rs
+++ b/programs/mango-v4/tests/program_test/mango_client.rs
@@ -605,3 +605,58 @@ impl<'keypair> ClientInstruction for CreateAccountInstruction<'keypair> {
         vec![self.owner, self.payer]
     }
 }
+
+pub struct RegisterSerumMarketInstruction<'keypair> {
+    pub group: Pubkey,
+    pub admin: &'keypair Keypair,
+    pub payer: &'keypair Keypair,
+
+    pub serum_program: Pubkey,
+    pub serum_market_external: Pubkey,
+
+    pub base_token_index: TokenIndex,
+    pub quote_token_index: TokenIndex,
+}
+#[async_trait::async_trait(?Send)]
+impl<'keypair> ClientInstruction for RegisterSerumMarketInstruction<'keypair> {
+    type Accounts = mango_v4::accounts::RegisterSerumMarket;
+    type Instruction = mango_v4::instruction::RegisterSerumMarket;
+    async fn to_instruction(
+        &self,
+        _account_loader: impl ClientAccountLoader + 'async_trait,
+    ) -> (Self::Accounts, instruction::Instruction) {
+        let program_id = mango_v4::id();
+        let instruction = Self::Instruction {
+            base_token_index: self.base_token_index,
+            quote_token_index: self.quote_token_index,
+        };
+
+        let serum_market = Pubkey::find_program_address(
+            &[
+                self.group.as_ref(),
+                b"serum".as_ref(),
+                self.serum_market_external.as_ref(),
+            ],
+            &program_id,
+        )
+        .0;
+
+        let accounts = Self::Accounts {
+            group: self.group,
+            admin: self.admin.pubkey(),
+            serum_program: self.serum_program,
+            serum_market_external: self.serum_market_external,
+            serum_market,
+            payer: self.payer.pubkey(),
+            system_program: System::id(),
+            rent: sysvar::rent::Rent::id(),
+        };
+
+        let instruction = make_instruction(program_id, &accounts, instruction);
+        (accounts, instruction)
+    }
+
+    fn signers(&self) -> Vec<&Keypair> {
+        vec![self.admin, self.payer]
+    }
+}
diff --git a/programs/mango-v4/tests/test_serum.rs b/programs/mango-v4/tests/test_serum.rs
new file mode 100644
index 000000000..5757a9e2c
--- /dev/null
+++ b/programs/mango-v4/tests/test_serum.rs
@@ -0,0 +1,107 @@
+#![cfg(feature = "test-bpf")]
+
+use anchor_lang::InstructionData;
+use fixed::types::I80F48;
+use solana_program::pubkey::Pubkey;
+use solana_program_test::*;
+use solana_sdk::signature::Signer;
+use solana_sdk::{signature::Keypair, transport::TransportError};
+use std::str::FromStr;
+
+use mango_v4::state::*;
+use program_test::*;
+
+mod program_test;
+
+#[tokio::test]
+async fn test_serum() -> Result<(), TransportError> {
+    let context = TestContext::new(Option::None, Option::None, Option::None, Option::None).await;
+    let solana = &context.solana.clone();
+
+    let admin = &Keypair::new();
+    let owner = &context.users[0].key;
+    let payer = &context.users[1].key;
+    let mint0 = &context.mints[0];
+    let mint1 = &context.mints[1];
+    let payer_mint0_account = context.users[1].token_accounts[0];
+
+    //
+    // SETUP: Create a group
+    //
+
+    let group = send_tx(solana, CreateGroupInstruction { admin, payer })
+        .await
+        .unwrap()
+        .group;
+
+    //
+    // SETUP: Register mints (and make oracles for them)
+    //
+
+    let register_mint = |mint: MintCookie, address_lookup_table: Pubkey| async move {
+        let create_stub_oracle_accounts = send_tx(
+            solana,
+            CreateStubOracle {
+                mint: mint.pubkey,
+                payer,
+            },
+        )
+        .await
+        .unwrap();
+        let oracle = create_stub_oracle_accounts.oracle;
+        send_tx(
+            solana,
+            SetStubOracle {
+                mint: mint.pubkey,
+                payer,
+                price: "1.0",
+            },
+        )
+        .await
+        .unwrap();
+        let register_token_accounts = send_tx(
+            solana,
+            RegisterTokenInstruction {
+                decimals: mint.decimals,
+                maint_asset_weight: 0.9,
+                init_asset_weight: 0.8,
+                maint_liab_weight: 1.1,
+                init_liab_weight: 1.2,
+                group,
+                admin,
+                mint: mint.pubkey,
+                address_lookup_table,
+                payer,
+            },
+        )
+        .await
+        .unwrap();
+        let bank = register_token_accounts.bank;
+
+        (oracle, bank)
+    };
+
+    let address_lookup_table = solana.create_address_lookup_table(admin, payer).await;
+    let (oracle0, bank0) = register_mint(mint0.clone(), address_lookup_table).await;
+    let (oracle1, bank1) = register_mint(mint1.clone(), address_lookup_table).await;
+
+    //
+    // TEST: Register a serum market
+    //
+    send_tx(
+        solana,
+        RegisterSerumMarketInstruction {
+            group,
+            admin,
+            serum_program: Pubkey::default(),
+            serum_market_external: Pubkey::default(),
+            base_token_index: 0, // TODO: better way of getting these numbers
+            quote_token_index: 1,
+            payer,
+        },
+    )
+    .await
+    .unwrap();
+
+    Ok(())
+}