Results of implementing roadmap stages on ‘new margin regulation’ in QUIK and QORT platforms

ARQA Technologies has been adapting its software to comply with the new margin requirement regulation for Russian financial market participants (Order N 13-71/пз-н).

Last November the company’s website published a calendar plan containing specific upgrades in QUIK and QORT platforms (the roadmap).

In accordance with the plan QUIK developers introduced all previously postulated upgrades spanning five out of six stages. The following software products have been upgraded:

1. QUIK server – versions 4.12, 4.13, 4.14
   The 4.12 version has a number of new features facilitating pre-trade control and position keeping in accordance with the new regulation. To control implementation of new mandatory requirements the QUIK server introduced a new scheme of position keeping - ‘according to discounts’. The new functionality lets brokers set their own discounts different from those of the Central Counterparty. Following the results of field application of QUIK server version 4.12 by company clients other two versions were released – 4.13 and 4.14. They include additional features for further functional development of the new position keeping scheme - ‘according to discounts’.
2. QUIK workstation - version 6.11
   The new version supports the new scheme of client transaction margining – ‘according to discounts’. If a client account is adjusted for this type of broker service the QUIK workstation displays margin indicators for its position calculated according to the Regulator’s methodology and broker settings and helps determine the purchasing power of the client account.
3. Market data export module – version 4.12
   The new version of the module lets users export new computational margin indicators to their accounting systems. The export of new indicators is supported in the ‘End-of-Day’ mode.
4. Terminal module of risk manager CoLibri – version 4.0
   The new version of CoLibri 4.0 envisages post-trade procedures in accordance with the new mandatory requirements. It has been implemented in the form of a plug-in designed for concerted application with the QUIK workstation.

As for QORT platform, both middle-office midQORT and back-office backQORT development teams have introduced all required features that had been planned for all 6 stages of the roadmap. One of the more significant features is implementation of new margin indicators calculation for trade and non-trade transactions including its optional recalculation. The additional feature will help brokers adapt their margin registers to the new regulatory requirements.

Other introduced features deal with QUIK integration and concern new settings and limit uploading to QUIK in accordance with the new requirements as well as automating margin call generation and dispatch and the procedure of semi-automatic position closing complying with the regulation.

Any questions about the newly released software versions may be addressed to:

QUIK technical support service - support@quik.ru, +7 383 219 1606,
QORT technical support service - support@qort.ru, +7 383 219 1699.