Support of T+2 settlement regime in ARQA Technologies software products
Activation of the new trading regime T+2 at the Moscow Exchange in March this year required ARQA Technologies to modify significantly its software solutions for keeping client positions with deferred settlement.
Implemented modifications cover a wide spectrum of QUIK line software products as well as solutions based on QORT platform – middle-office midQORT and back-office backQORT.
In QUIK a second limitation scheme was added to the existing ‘Tx-scheme’. The new scheme enables keeping a client position with the help of additional client codes for different settlement dates. The new scheme provides insertion of a new client position item in cash and securities – ‘Limit kind’. This scheme allows keeping client obligations for different settlement dates - T0, T1 and T2, as well as building a planned position for these settlement dates and considering operations in different trading modes separately for one client account. Currently the new limitation scheme is supported by the following new versions of company’s software products:
- QUIK server version 4.5 and later now allows position-keeping and controlling the purchasing power of clients with account of deferred obligations;
- QUIK Workstation version 6.7 correctly displays margin data and calculates purchasing power for various ‘Limit kinds’. Principal changes are related to ‘Client Portfolio’ and ‘Buy/Sell’ tables as well as the order entering form;
- Workstation of risk manager CoLibri version 3.10 now displays margin data for different delivery dates. Besides, setting different marginal rules for various ‘Limit kinds’, sending margin calls and closing client positions for selected ‘Limit kinds’ were added;
- Market data export module version 4.9 allows exporting a new format of client positions to external sources – accounting systems, back-offices, internal databases and so on.
New versions of middle-office midQORT and back-office backQORT are now suitable for downloading trades in T+2 regime from a QUIK server. They now form limits for loading them into a QUIK server with due account for deferred settlement dates (T1 and T2).
The new limitation scheme will be supported in other QUIK line software products in the nearest future.