ARQA Technologies: results of 2023
In 2023, 28 organizations including banks, exchanges, investment and asset management companies became new clients of ARQA Technologies. Eighteen of them implemented QUIK software, and 15 — solutions based on the QORT software platform. Five clients implemented both QUIK and QORT software products. Active installations of software provided from ARQA Technologies data centers continued the trend — last year there were 13 of them.
ARQA Technologies stepped up its activities in the near abroad financial markets. Over the year, the company attracted 6 new clients from CIS countries and negotiated with a number of exchange venues on the possibilities of using QUIK as an exchange's technological platform.
Exchange and Client Projects
In 2023, the company traditionally supported all major infrastructure innovations on the Moscow Exchange markets, including numerous types of options, REPO with a floating rate and open-date, etc.
Also, ARQA Technologies supported in its products the transition from the T+2 to T+1 settlement cycle for trading stocks and bonds in main modes on all Russian exchanges.
The company continued its cooperation with exchange venues that use QUIK as a matching core of their technological platforms. Thus, switch auctions and REPO trades with baskets were supported in the trading system of the Armenia Securities Exchange (AMX). Another trading venue based on the QUIK core automated the trading in loans and deposits.
The company paid special attention to the development and promotion of QDealing, the service to agree on terms of OTC trades, which is positioned as an alternative to large OTC trading systems. QDealing allows users to exchange messages between professional participants, forward indicative quotes, and execute OTC trades. Over the past year, a number of important functional improvements were made to the service: a possibility to set a ‘white list’ of counterparties and form group-messaging lists in QChat, search for messages, start of a dialog from the indicative quotes window, forwarding and canceling of indicative quotes via the FIX-protocol, simplified process of adding new securities for quotes, etc. The accounting of operations made in QDealing is now also supported in the back-office backQORT. By the end of 2023, 43 professional participants connected to the service, and 237 users worked in QChat.
In 2023, the following products were added to the list of QUIK server modules:
- AMX trading interface — for trading government bonds on the Armenia Securities Exchange (AMX)
- ITS trading interface — for trading securities listed on NYSE, NASDAQ, and HKEX exchanges, by means of connection to the trading system gateway of ITS
- SPCEX trading interface — for trading shares and bonds on the Saint-Petersburg Currency Exchange (SPCEX)
- MOEX Dealing drop copy program interface — for delivering information about trades from the MOEX Dealing service to the QUIK server
- QUIK REPO module — for processing of OTC orders and execution of trades in negotiated trading modes
The QUIK server software supports the position keeping in calendar dates, which allows reducing the number of loaded positions and simplifying the work in case of trading on venues with different trading calendars.
Other significant innovations in QUIK modules include the possibility in the Bookbuilding module to buy back securities and orders at the market price as well as the support in QUIK OMS for currency instruments and additional features for more convenient integration of the solution with external applications.
In 2023, 9 updates of the desktop QUIK workstation, 2 updates of webQUIK web application, and 5 updates of mobile terminals for iOS (iQUIK X) and Android (QUIK Android X) were released. Among the main innovations of the user terminals it is worth mentioning:
- a possibility to use modeless entry forms for orders, which allows simultaneous opening of several entry forms and moving them outside the main program window,
- a special mode of working with positions for managers of large brokers (a possibility to load positions for a chosen client),
- the ‘Options board’ table in the full-screen version of webQUIK to work with shares, futures, and FX instruments options,
- indicators of technical analysis in the ‘light’ version of webQUIK for smartphone screens,
- restyling of mobile terminals with new functions (display of own orders in the Level2Quotes table, the switch to the instrument parameters window from the search window, auto-replacement of derivatives market instruments with near expiration dates, etc.),
- new distribution channels for QUIK Android X via RuStore and HUAWEI AppGallery mobile application stores.
The QUIK-Junior system, which provides introductory access to MOEX training systems, acquired the functionality of sending investment recommendations to users. Now, demo versions of QUIK workstations transmit examples of broker's recommendations on execution of trading operations with specified instruments. This functionality in the broker's main QUIK system is provided by the Investment recommendations module.
Also in 2023, the project on the video library about the QUIK system's capabilities continued its development. Eight new videos about the functionality of the company's web and mobile terminals were published on the website and YouTube channel of ARQA Technologies.
In the products based on the QORT software platform, a number of important innovations in 2023 were related to the addition of horizontal scaling of some server components (in particular, those providing generation of most reports on the server) as well as to the uploading of positions from QORT to QUIK when keeping positions in calendar dates.
Automated back-office backQORT
In backQORT, great attention was paid to improvements in regulatory reporting and to expansion of the functionality for tax calculation and reports. Besides that, the options to set, calculate and write off commissions were significantly expanded.
Middle-office of an asset management company capQORT
For capQORT the last year resulted in developments in the functionality for setting, adding and viewing restrictions; support of a new mode to hold auctions on the Moscow Exchange; addition of new types of asset classifiers (logical/numeric/list), including a new ‘Real Estate’ asset type.
In the reporting section of capQORT, a new ‘Management efficiency report’ was added, which displays analytical indicators of portfolio management. The P&L report (‘Report on positions’) acquired duration, rating, industry fields, and an option to filter and group by them.
Also, the possibilities of importing information via the Module of integration with RU DATA were significantly extended.
Support for a New System Stack
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