Central Asian Stock Exchange implemented a new ARQA Technologies exchange platform on the Tajikistan financial market in record time
The Central Asian Stock Exchange (CASE) and ARQA Technologies announce implementation of QUIK software as a key part of the exchange technological platform, which is the main venue of the organized financial market of Tajikistan.
At the preparatory stage, ARQA Technologies participated in and won the tender held by the exchange to replace the existing trading platform with one more optimized and focused on the financial market the Republic of Tajikistan.
The integrated infrastructure is based on the IT solution from ARQA Technologies which has almost 25 years of experience in building high-load systems for financial markets and operation with the largest exchanges in the world.
At the current stage, the installed QUIK software serves as a matching core of CASE, provides services for receiving and processing client instructions, distributing market data as well as organizing online pre-trade risk management of trading operations. To participate in trading, the exchange provides all its participants with QUIK desktop terminals.
The new technological platform is also used for primary placements on the public debt market of the Republic of Tajikistan. The nearest plans of CASE and ARQA Technologies include expansion of the exchange infrastructure by set up of a secondary market of bonds, with further transfer to a new technological base of trading in other sectors of the securities market, as well as further development of exchange services and services for trading participants.
A number of successfully implemented exchange projects and modularity of the QUIK solution made it possible to implement this project with CASE in record time – less than 3 months.
Ilya Prokopenko, Director of Sales & Marketing at ARQA Technologies:
"During the implementation of the QUIK product as the exchange core of the Central Asian Stock Exchange, we relied on the experience of previous similar installations, so the implementation of this project went without serious difficulties. We are grateful to the CASE team for choosing our platform, active participation in the implementation and we believe in further effective cooperation".
Umeda Rakhmanova, Director of CASE:
"When implementing this ambitious and big project within the current development of the capital market of Tajikistan and the exchange's plans, we faced an important task – to choose the most optimal and technically innovative software solution which in the long term would guarantee us stable work and the possibility to further improve the product with account of our growing needs. ARQA Technologies offered us QUIK software as the most understandable and effective solution. I would like to thank ARQA Technologies for the product of high quality, quick solution of all issues and willingness to further expand and improve the technological platform provided to us".