ARQA Technologies is a leader among Russian DMA system providers

20 october 2011

RFP Connect

Yury Voronov, CEO of ARQA Technologies hits the high spots during the interview with RFPConnect Editorial about company’s Front to Back Solutions – QUIK and QORT software packages.

DMA technology has significantly changed traditional approach to trading operations system on European and American stock-exchange markets since the middle of 1990s. At present time it actively strikes roots in Russia. For the past ten years Russian Internet trading tools market is enduring the rapid growth. Nevertheless, only a few local DMA vendors, called industrial strength, offer the cutting-edge software products together with comprehensive customer services.

Being one of pioneers of Russian Internet Trading Tools Market, ARQA Technologies Company develops programming solutions for automation of the brokerage business based on the customer’s needs. Established early in 2000 as a result of transformation from Siberian Interbank Currency Exchange IT Department (Novosibirsk), the company has been creating and developing comprehensive solutions and technologies for banks, asset management and investment companies, automating their operations in financial markets.

Besides, outsourcing, hosting and backup services of QUIK program complex and the modules based on its own technical centers located in Moscow, Kiev and Novosibirsk have been offering by the company. ARQA Technologies offers the complete line of products — front-to-back solutions for automation of front, middle and back office operations.

ARQA Technologies clients list more than 280 financial organizations from Russia, Ukraine, Kazakhstan, Great Britain and Estonia. Among them are the Russian “daughters” of international banks and the top tier Russian buy-side and sell-side firms.

Its key product is QUIK DMA Platform, a leader among Russian DMA systems. From 2007, QORT, a new software platform intended for end-to-end automation of standard broker operations, and its applications midQORT, a broker’s middle-office software, and backQORT, a broker’s back-office software, are developed.

The Company places high emphasis on user’s technical support services within the bounds of QUIK and QORT projects. Located in the downtown quarter of Novosibirsk, the company has a staff of 120 employees (as of the end 2011).

ARQA Technologies Clientele includes major stock market players, such as BCS, FINAM, GazpromBank, KIT Finance, the Otkritie group of companies, the Renaissance group of companies, Sberbank, Troika Dialog, the URALSIB group of companies, VTB 24 and many others.

Mr. Voronov, please specify the main product of ARQA Technologies and some of its functional characteristics?

Gladly. Our primary product is a QUIK platform for organizing DMA for own desk and servicing clients. The application ensures an opportunity to participate through remote terminals in trading by financial instruments at Russian and international marketplaces.

There are several special features referring to QUIK. First one, the application is available both for customers looking for DMA to the Russian and international financial markets. The platform contains a risk service system with inbuilt online pre-trade control, that greatly increases the attractiveness of the product to the clients. It has Direct FIX-connectivity to MICEX and FORTS (FIX2MICEX, FIX2Plaza2) for low-latency, HFT infrastructures and Online pre-trade control for any FIX infrastructure – FIXPreTrade, direct connectivity using MICEX API with online pre-trade control – MICEXPreTrade. At the same time QUIK is the profound system of settings, meeting all the broker’s functionality requirements and providing services on hosted bases.

QUIK software Package consists of three main applications: QUIK Broker, QUIK Dealer and QUIK Junior.

QUIK Broker and Dealer are enabling banks and investment companies own operations and provide them with an access to financial markets via QUIK terminals. The first one is used also for servicing clients.

QUIK Junior has been created as a training system for beginners and students and presents the whole basic functionality of QUIK.

What does exactly make this product so unique for customers ? How they might benefit from buying QUIK Product?

QUIK gives customers the opportunity of unlimited access to different market places from one terminal using common rules and logistics, strong inbuilt risk management functionality and rich line of additional services for end clients.

And how long time does a typical implementation of this product require?

QUIK is a box solution. If everything else is ready (hardware, third parties software, channels, exchanges gateway software), then implementation of QUIK itself takes up to a week. If intensive integration inside a company-client with other program platforms is supposed, then entire implementation can take up to a few months.

Yury, could you please list the types of users/customers of ARQA Technologies products? Who exactly forms the biggest customers share?

ARQA Technologies target groups are investment and commercial banks, investment and asset management companies. Basically, they use QUIK for their own desks operation and for servicing their clients.

Despite there are not so many really big players on Russian Internet Trading Tools Market, could you name the principle competitive products to QUIK?

Among QUIK ‘s main competitive products are such as Netinvestor - the brokerage trading platform, developed by MFD-InfoCenter. One of other competitors is Transaq, developed by Market Screen Systems. Among foreign vendors these are, for instance, SunGard, Comarch and others.

How do you position your product in the market against its competitors?

In our view, the natural involvement in our existing and potential client’s discussions of their IT infrastructure development, and the great attention that we pay to the clients support, make us strong. High level of software modeling, development and testing, backed by the Novosibirsk Akademgorodok’s scientific center, allow us to be flexible, up to time and up to the business requirements, besides, reasonable prices for our products and services also play on our side.

How are upgrades delivered to existing users?

QUIK upgrades automatically when conformed by a user.

Have you already launched, or are you planning to launch, a completely revised version of this product?

Every 2-3 years we undertake ‘revolutionary’ revision of a server or a front part of QUIK. For example, the last version of the QUIK workstation – 5.24 – works with a considerably optimized QUIK server, allows dealing with growing volume and high volatility of the market.

Another substantial question, how users/customers pay for the product.

Generally, there are two parts in the QUIK pricing – a one-off license fee and a monthly maintenance fee. The license is being granted without time restriction for usage.

Please mark out the most important industry-wide trends affecting the market for this product?

Growing volumes, HFTs and low-latency infrastructures, increasing complexity of risk management give up-trend expectations.

Does ARQA Technologies have a special marketing strategy for QUIK promotion (i.e. by what means are you seeking to distribute the product and enlarge its market share)?

Our position is to listen carefully to our clients demands and to follow them in developing the software and services. This refers as to improving the existing products and services, as to extending the line of products and services provided. Two main outcomes of this position are to be stated as the answers to your question. Our research is concentrated on integration of our clients demands into a common picture which defines our plans and strategy.

The major share of our sales is internal sales to the existing clients. And we are quite confident in the future growth, because, due to the market rapid development in terms of speed of operations, sophistication of used technological platforms, regulation demands, the appropriate software and services are required. And they become more complicated, and deeply integrated into the business of our clients.

Our readers will be glad to know more about the complex of company ‘s associated customer support services.

The company undertakes both technical support and client’s education services. Technical support is one of ARQA’s main priorities .The company renders technical support for its users by any preferable way: e-mail, either phone («hot line») or via the QUIK user’s forum at QUIK website.

At the same time the company leads different types of seminars and practical webinars for its clients to introduce how applications work on concrete cases.

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