Envoys Vision Digital Exchange implemented a new trading platform from ARQA Technologies on Kyrgyzstan’s FX market

The universal digital exchange of Kyrgyzstan, Envoys Vision Digital Exchange (EVDE), has implemented the QUIK software package as the trading core for the FX market infrastructure. The expertise of ARQA Technologies and the modular architecture of QUIK made it possible to implement this project in a short time, providing the exchange with an efficient solution for arrangement and organization of trading.

The platform has supported anonymous FX trading in the double counter auction, as well as a negotiated deal mode for negotiated deals between specific participants.

In addition to deployment of the QUIK-based trading core at EVDE, ARQA Technologies specialists installed a front-office QUIK system to provide access to exchange trading for the first broker of the exchange, the investment company “Asia Capital”, and integrated it with another company product — the automated back-office backQORT. This integration provided the broker with a ready-to-use infrastructure for operating at EVDE, combining the trading terminal and back-office systems for transaction accounting and settlement. This new technological package allowed “Asia Capital” to promptly start servicing clients on the digital exchange.

The QUIK platform is asset-neutral, which offers EVDE broad opportunities for further infrastructure development. For example, the QUIK-based solution can be scaled to launch new instruments and trading segments as the exchange grows, easily adapting to demands of the market.

Ilya Prokopenko, Director of Sales & Marketing at ARQA Technologies:

"Our company's many years of expertise in building exchange infrastructures, as well as the coordinated work of the ARQA and EVDE teams, made it possible to launch FX trading on the exchange in a short time."

Ramil Nasyrov, CEO of EVDE:

"Choosing QUIK as a trading core has been fully justified. This technology satisfies our exchange’s requirements and has demonstrated the required adaptability and reliability. We thank ARQA Technologies for their high professionalism and professional approach during the project implementation."