Results of 2014

26 january 2015

The company’s last year turned out to be quite full of various events and projects where it actively participated as a vendor, expert, consultant or partner.

In 2014 seventeen banks, investment and asset management companies became its new clients as they started using QUIK products while five banks and investment companies introduced QORT platform solutions.

The largest project of last year embraced implementation of the roadmap devoted to adapting the company’s products to the New Margin Requirement Regulation (the Central Bank of Russia order # 3234-U). This regulation set out new rules for market participants who are engaged in unsecured transactions at financial markets. In order to follow the rules and requirements of the regulation ARQA Technologies had to introduce changes to the QUIK server component, a number of QUIK modules, the QUIK workstation, mobile and web applications, risk manager’s terminal CoLibri and QORT-based software including the middle-office midQORT and back-office backQORT.

The critical point of the software modification turned out to be facilitation of the new margin scheme for clients’ operations – the so-called ‘discount scheme’ whereby brokers may set their own discounts which may be equal or different from those offered by the Central Counterparty. The project resulted in implementation of calculation, visualization and monitoring of new margin indicators, their export to brokers’ accounting systems, buying power calculation and limit generation in accordance with the new methods and broker’s own settings. The results also include post-trade procedures that correspond to the requirements specified in the new regulation, new forms of regulation reports, etc.

The events of 2014 included the emergence of a new brand name for one of the company’s products — RISQ solutions — that brought together a variety of pre-trade control solutions for trading that deliver a broad functionality of risk mitigation and adaptability to various types of low-latency infrastructures. The brand consummated several years of development and application of diverse approaches to managing trading risks within QUIK trading platform and elaboration of QUIK server risk functionality (incorporated in the sub-brand of RISQ server).

The line of interfaces employing the RISQ solutions approach (FIXPreTrade, FIX2Markets, MICEXPreTrade) expanded last year to include QUIK KillSwitch module and FIXPreTrade for Linux module.

QUIK KillSwitch is a module for online risk control with very little additional latency that is used to provide brokers’ clients access to the equity market of LSE through sponsored access. The module employs the exchange’s own KillSwitch device and the entire range of RISQ solutions’ functionality.

FIXPreTrade for Linux is one of several integration solutions used in deploying latency-sensitive trading infrastructures. It is a FIX proxy service that is inserted in broker’s infrastructure for fast pre-trade control of trade orders bypassing the QUIK server. The module has been developed for operational system Linux (RedHat6) which supports the latest network technologies with high speed of transmission and reception of signals.

Last year the company devoted a large part of its efforts to developing its software solutions for deployment and optimization of complex trading infrastructures.

The company developed a new software solution FX Dealing which is intended first of all for banks as it effectively provides access for bank/broker’s clients to FX instruments. The FX Dealing solution employs a dedicated infrastructure to aggregate and internalize liquidity with all parts of this infrastructure being modules of QUIK — the QUIK server, the QUIK SOR, the module of Automated Order Processing as well as adapted work stations of QUIK and webQUIK with the system interface. With the help of FX Dealing a broker may efficiently service both institutional and retail brokers.

2014 has seen a significant expansion of server modules of QUIK platform.

The line of sponsored access modules acquired Trading interface of St Petersburg exchange providing access to US securities trading in the newly created market in St Petersburg. Another implementation was access solution to MTF BATS Chi-X Europe the trading venue connecting buyers and sellers from 15 major European markets on the basis of a single platform and common rules.

A joint project with TRADING CENTRAL (France) delivered Trading Central news interface which makes available technical analysis data and trading tips for all main types of financial instruments.

Another module of the QUIK product line is Auto-following module. The solution provides broker’s clients an opportunity to subscribe to strategies (financial instruments portfolios) which may be available at a QUIK server in order to receive trading signals corresponding to selected strategies from managers and execute them.

In addition to the already existing Algorithmic trading module which is primarily employed by broker’s trading desks a new version of the module — Algorithmic trading module Light has been developed having in mind its use by broker’s clients themselves.

Last year there also appeared several newest versions of user terminals: the QUIK workstation, mobile applications iQUIK, iQUIK-HD and QUIK Android — featuring extended functionality and improved ergonomics.

Well-deserved praise is due to the new version of webQUIK – a user work station with a completely renovated interface which has followed the latest trends of user-friendly web application developments. The new design went beyond the looks as it has altered the structure of information delivery and enhanced flexible use of functional areas of the terminal. Another groundbreaking feature of the new webQUIK is the fact that it has become cross-browser– the web application of QUIK now works with all popular browsers controlled by various operational systems.

The terminal module of spot market risk manager CoLibri is no longer a separate work station for it has been transformed and implemented as a plug-in to the work station QUIK and no longer requires a separate connection to the QUIK server.

As for changes that took place in 2014 concerning the line of solutions based on QORT platform in addition to a lot of new functionality development one may point out the release of the English version of backQORT as well as enhancing the QORT-Repositary system (reQORT) in terms of communication with NRD repository by means of the latter’s web-services.

In 2014 as well as in previous years ARQA Technologies actively participated in most important technological events, forums, exhibitions and conferences both in Russia and abroad. These events included TradeTech Europe 2014 (Paris), Accessing Russia (London), Electronic Trading Risk Management and Governance (London), FIA/FOA International Derivatives Expo(London), STAC Summit (London), Derivatives World Central and Eastern Europe (Warsaw), All Bank Automation 2014 (Moscow), Moscow ALGO — 2014 (Moscow).

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