QORT digest for the fourth quarter of 2016

23 january 2017

Q4, 2016

Dear users of software products from ARQA Technologies, we are offering you the digest of major innovations introduced in solutions based on QORT software platform in the 4th quarter of 2016.

Middle-office midQORT and back-office backQORT — solutions for banks and investments companies

At the end of the year QORT software products were supplemented with several new modules: Module of integration with DISC NSD, Bloomberg Data License QORT Program Interface, Bloomberg VCON drop copy QORT Program Interface.

Module of integration with DISC NSD makes it possible to download corporate data on financial instruments processed in NSD and to cross check it with the QORT database. This module is developed for the backQORT solution.

Bloomberg DataLicense QORT Program Interface makes it possible to obtain from Bloomberg market data on securities.

Another new module based on Bloomberg solutions — Bloomberg VCON drop copy QORT Program Interface — makes it possible to download to QORT the data on executed trades (mostly with Eurobonds) from the Bloomberg database. The data is transmitted via FIX protocol by BLOOMBERG PROFESSIONAL® service.

Both Modules are certified by Bloomberg and may be used for midQORT and backQORT.

The main improvements in midQORT and backQORT software made in the 4th quarter 2016 are listed below:

Automation/control

New functionality

Supported by solutions

It has become possible to reconcile with primary brokers’ reports on schedule.

midQORT, backQORT

Clients’ rights are automatically updated when the latest server version is installed.

backQORT

When generating or editing a financial instrument it is checked whether it contains coinciding data. The fields «Name», «Code», and «ISIN» are checked. If an instrument with such parameters already exists in the system there is a warning message with coinciding parameters.

backQORT

Various tax treatments (jurisdictions) may now be taken into account. When generating a transaction the system checks the match of sub-account holder’s country with a country of a physical account transaction.

midQORT, backQORT

The system statistics analysis acquired an additional parameter «liquidity analysis» allowing to indicate Russian and foreign securities as «liquid»/«non-liquid». Indication is based on availability of quotes for these securities for the last two days on trading venue sections of the Moscow Exchange (for Russian securities) or the revaluation section (for foreign securities).

midQORT, backQORT

Order accounting

New functionality

Supported by solutions

An option was added to generate global non-trade instructions from clients. They are shown in ‘Register of client instructions’ and in ‘Registration directory of client instructions’ on the day they are forwarded. The instructions are for information only and do not require any corrections in the system.

backQORT

Reports

New functionality

Supported by solutions

The extended functionality is available for SWIFT message generation: it has become possible to generate form 580.

backQORT

It has become possible to generate report form 0420422: ‘Details of forex-dealer activity’.

Specialized version backQORT
for forex-dealer

It has become possible to generate OKUD report form 0420418 ‘Details of broker, depository and securities management activity’ as specified in the Directive of the Bank of Russia # 4096-U.

backQORT

It has become possible to generate OKUD report form 0420417 ‘Report on OTC trades’ as indicated in the Directive of the Bank of Russia # 4096-U.

backQORT

A new type of client report ‘File of grouped trades’ was added where trades may be aggregated by the following parameters: trade date, sub-account code, trade direction, instrument code, trading account.

backQORT

It has become possible to generate OKUD report form 0420427 in xtdd format which is compatible with Questionnaire-program for electronic documents generation.

backQORT

Commissions

New functionality

Supported by solutions

For the commission ‘Interest on securities balance’ an option was added allowing to set a negative rate: the commission interest may now be not only accrued but also written off.

backQORT

System usability

New functionality

Supported by solutions

The table ‘Register of OTC trades’ has been supplemented with a new field ‘Trade number in internal reports’ providing quick search of required trades.

backQORT

Trade order templates may be saved in a separate folder.

backQORT

Middle-office capQORT — solution for asset management companies

In the 4th quarter 2016 capQORT functionality was supplemented with new modules developed on the basis of Bloomberg solutions.

Bloomberg DataLicense QORT Program Interface makes it possible to obtain from Bloomberg market data on securities, to download ratings of issuers and securities.

Bloomberg VCON drop copy QORT Program Interface — makes it possible to download to QORT the data on executed trades (mostly with Eurobonds) from the Bloomberg database. The data is transmitted via FIX protocol by BLOOMBERG PROFESSIONAL® service.

Both Modules are certified by Bloomberg.

Another integration project was implemented with the back office ’Avancor: Mutual investment funds’ for a capQORT client.

The project enabled data exchange between the Avancor back office and capQORT in terms of:
  • Roll-out of security reference book with prices; roll-out of OTC trades,
  • Roll-in of balances, OTC trade settlements (cash and securities).
Other modifications in capQORT:

Limit control

New functionality

To work with restrictions a new grouping method ‘by underlying asset issuers’ was added and may be used for controlling limits.

Pool order processing

New functionality

Counterparty’s name is now displayed in the dialogue of pool order placing.

When forwarding pool orders it has become possible to filter assets in a dropdown list: when choosing a venue (exchange or OTC) assets with instruments on exchange or off exchange are shown in a dropdown list.

Risk management

New functionality

Support is provided for the algorithm calculating net asset value by analytical accounts represented as a sum of various client sub-accounts.

Automation/control

New functionality

Various tax treatments (jurisdictions) may now be taken into account. When generating a transaction the system checks the match of sub-account holder’s country with a country of a physical account transaction if a special setting is activated.

The system statistics analysis acquired an additional parameter «liquidity analysis» allowing to indicate Russian and foreign securities as «liquid»/«non-liquid». Indication is based on availability of quotes for these securities for the last two days on trading venue sections of the Moscow Exchange (for Russian securities) or the revaluation section (for foreign securities).

Group actions

New functionality

There are improvements in setting groups of linked issuers, grouping instruments by issuer, and limit control by issuer groups.

It has become possible to set manually (or import from the external system via IDB) groups of linked issuers with entry or exclusion dates as well as specify lists of issuer groups within asset groups.

Commission accounting

New functionality

Dates of broker commission write off s may be generated automatically by templates, which are set for clients.

For ’Interest on securities balance’ it is now possible to set a negative rate: this commission may now be accrued and also written off.

Model portfolio processing

New functionality

The table of sub- and analytical accounts acquired an option to view records of status and model portfolio changes.

Net asset value interval and its currency may now be specified in model portfolios. They may also be specified in the IDB table for data import into external systems.

Integrations

New functionality

Additional parameter control is provided for financial instruments imported from RU DATA: if neither ISIN, nor registration code are specified the system informs that assets cannot be imported.

When generating an asset on the basis of Bloomberg data (by means of Bloomberg VCON drop copy QORT Program Interface) an attribute for qualified investors is selected automatically.

System usability

A more user-friendly form of data visualization was designed for trader-asset manager. It is a portfolio organizer with several windows displaying structure of a chosen portfolio, its parameters, integral indicators, restrictions and currents orders.

The portfolio organizer may be easily adjusted for tasks of trader-asset manager.

In the new version this functionality was improved:

New functionality

An new option is available to resize a portfolio organizer’s dialogue.

Order forms for asset managers and traders were added.

Unexecuted orders of previous days are displayed and accounted for. There are also additional columns ‘Asset manager’s comments’ and ‘Trader’s comments’ in the current orders table.

Orders forwarded from a portfolio organizer undergo an additional pre-trade control. If there are breaches after an order was forwarded, a corresponding window shows diagnostic results. A user with corresponding rights may continue forwarding orders in this window. Other users cannot forward their orders if they may bring about a breach.



Contacts

With all questions about products, terms of use and testing, please contact the Sales and Marketing Department at ARQA Technologies:
+7-383-2191619, sales@arqatech.com

With questions about product use please contact QORT Support Service:
+7-383-2191699, qortsupport@arqatech.com


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