QORT digest for the fourth quarter of 2017
Q4, 2017
Dear users of software products from ARQA Technologies, we are offering for your attention the digest of main features introduced in solutions based on QORT software platform in the fourth quarter of 2017.
New product in the line of QORT solutions — the system of depository record keeping depoQORT
The system of depository record keeping depoQORT keeps records of availability, movement, safekeeping and registration renewal for securities.
The system allows record keeping of Russian and foreign assets in several depositories with regard to various depository days, simultaneous processing of different depository days in one accounting organization, accounting balances by various filters, discretionary grouping into active and passive accounts.
The system accounts for changes in depositor positions based on corporate events of financial instruments issuers for instruments included in depository. The register of incoming and outgoing payments comprises data on cash calculation and payments by coupons, dividends; repurchase of financial instruments by issuer and other payments. depoQORT generates payment certificates, dividend income certificates, list of clients for dividend refund and other.
The system generates incoming and outgoing documents, ledgers in accordance with current legislative norms and requirements of Statute 542-P.
See detailed information here.
New module of backQORT — the Module of monitoring non-standard operations
The Module is designed to discover trades and non-trade operations with characteristics of unusual operations as defined by Regulation of Bank of Russia #445-P of 15 December 2014, and exchange orders and trades conforming to market abuse manifestations in line with Federal Law #224-FZ of 27 July 2010.
The Module allows forming registers of unusual operations and operations conforming to market abuse manifestations, using additional filters for these operations, viewing detailed information from the register for every identified case. See detailed information here.
Middle-office midQORT and back-office backQORT — solutions for banks and investment companies
Integrations
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New functionality |
Supported in |
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Security negotiability feature is imported during integration with RU DATA database. It has become possible to disable import of assets and issuers to the system. |
midQORT, backQORT |
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It has become possible to request trade’s initial parameters from its configuration dialogue when importing trades from Bloomberg VCON®. |
midQORT, backQORT |
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New functionality is available for integration with Cbonds:
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midQORT, backQORT |
Order processing
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New functionality |
Supported in |
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The following order parameters may be imported via intermediate database and edited in user terminal: type of order forwarding, order type, author and other (required for implementation of Bank of Russia #577-P regulation). |
backQORT |
Reconciliation
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New functionality |
Supported in |
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Reconciliation with the Moscow Exchange report now results in formation of REPO trade stages: compensation cash deposit (partial payment for second part of trade) and termination of agreement. |
midQORT, backQORT |
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During reconciliation with Saint-Petersburg exchange report it has become possible to indicate in comments which trading session trades belong to when trade stages are formed. |
midQORT, backQORT |
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It has become possible to monitor business partners by FSFM requirements (List of organizations and physical persons that may be involved in extremist activities and terrorism) from intermediate database or dbf file via passport series and number of a business partner. |
backQORT |
System usability
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New functionality |
Supported in |
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The mechanism defining security negotiability features was changed. The system analyses information for three previous calendar months and uses data both on exchange and off-exchange sections. |
backQORT |
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Physical accounts of ‘Cash’ type acquired an option to automatically indicate a feature of external account. The system does not process operations for such accounts. |
midQORT, backQORT |
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It has become possible to enter trades with execution dates different from current trading day. Postdated trades are not processed or included in reports and performance indicators until the date of trade execution. When a post-dated trade is entered, the information is processed correctly. This may be useful for geographically distributed companies. |
midQORT, backQORT |
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It has become possible to select instructions by trading venue sections, for a period or for a current trading session. |
midQORT, backQORT |
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Linked trades or trades with links to orders may now be viewed from the tables ‘Trade orders/orders to traders’ and ‘Register of client instructions’. |
backQORT |
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Security price is determined on basis of real-time change of operational day. |
backQORT |
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Now QORT software allows making schedules for coupon and redemption amount payments on days different from ‘coupon schedule’ and redemption dates taking into account prospective actual payments, and including amounts of these payments. |
midQORT, backQORT |
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When generating trades between clients of one broker it has become possible not to specify details of the second party. They may be entered later. |
midQORT, backQORT |
Commissions
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New functionality |
Supported in |
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The algorithm for calculating commissions ‘Interest on cash balance’ acquired an option to accrue interest for non-working days. |
backQORT |
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For all commission calculating algorithms it has become possible to set market price sources. |
backQORT |
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Commission templates may now be simultaneously linked to several tariff plans via user terminal. |
backQORT |
Reports
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New functionality |
Supported in |
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Assets of residents and non-residents within the OKUD report form 0420427 are defined by the ‘Resident’ feature of security issuer from the ‘Business partners’ directory. |
backQORT |
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The currency of underlying asset is used to define a par value of depository receipt for OKUD report form 0420415 according to the Directive of the Bank of Russia # 4425-U. |
backQORT |
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The amount of cash deposited in IIA does not include head broker’s corrections in the current calendar year increasing the account balance that are not deposited in cash (for example, accrued coupon payment, bond redemption and other). |
backQORT |
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The report on calculated commissions displays separate commissions for trades, portfolio evaluation, surcharges, services, derivative market trades, turnover by instrument, direction, etc. The report is generated in the xls report form or in a separate database table. |
backQORT |
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To control correctness of accrued commissions by REPO trades it has become possible to exclude the second parts of REPO trades from the ‘Stage Control’ table. |
backQORT |
Directories and documents
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New functionality |
Supported in |
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New features ‘Primary exchange’ and ‘Primary exchange code’ were added. The data may be uploaded via intermediate database. |
backQORT |
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It has become possible to select all expired documents over a period. |
backQORT |
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New fields ‘Сountry of tax resident registration’ and ‘Tax number in country of tax resident registration’ were added as features of business partners. |
backQORT |
Automation and group operations
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New functionality |
Supported in |
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If the license of a professional participant of securities market expires, the system blocks operations with such counterparties. The ‘Business partners’ table and intermediate database acquired fields ‘Expiration date of counterparty’s accreditation’. All operations are checked in accordance with these fields. |
backQORT |
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To meet regulatory requirements of trade order forwarding it has become possible to form a package of QUIK orders when rolling over positions. |
backQORT |
Middle-office capQORT — solution for asset management companies
Integrations
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New functionality |
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It has become possible to automatically download index values and structures from the Moscow Exchange website via intermediate database. Besides that, it is now possible to import index structures of the Moscow Exchange from csv files. |
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New functionality was added to integration with ‘Avancor’ system:
|
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Integration with Cbonds supported:
|
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Security negotiability feature is imported via integration with RU DATA database. It has become possible to disable import of new securities and issuers to the system. |
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Integration with Bloomberg VCON® allowed requesting initial parameters of trade while importing trades. |
Limit processing
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New functionality |
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Orders and corrections are allowed for derivative financial instruments that optimize position while partially eliminating restriction violations. Previously allowed were operations, which fully eliminated restriction violations. |
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A new limit directory ‘DFI restrictions’ was added. It includes summary information on all DFI restriction violations by various portfolios. The directory allows determining operations for elimination of restriction violations. |
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The intermediate database supports import of portfolio restrictions, options to generate new restrictions and portfolio links, edit or delete existing ones. |
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The ‘Portfolio restrictions’ table shows a period of limit duration. It is possible to choose restrictions valid for a particular date. |
Reconciliation
|
New functionality |
|
Reconciliation with Moscow Exchange report helps define REPO trade stages: compensation cash deposit (partial payment of second part of trade) and termination of agreement. |
System usability
|
New functionality |
|
Physical accounts of ‘Cash’ type acquired an option to automatically indicate a feature of external account. The system does not process operations for such accounts. |
|
It has become possible to enter trades with execution dates different from current trading day. Postdated trades are not processed or included in reports and performance indicators until the date of trade execution. When a post-dated trade is entered, the information is processed correctly. This may be useful for geographically distributed companies. |
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Forwarding OTC orders for instruments quoted in currency other than ruble, securities are evaluated in the instrument currency. An account in this currency is automatically used for settlement. |
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Now capQORT software allows making schedules for coupon and redemption amount payments on days different from ‘coupon schedule’ and redemption dates taking into account prospective actual payments, and including amount of these payments. |
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Two approaches are available for asset price search: last quote from all available price sources, or quote search by one technique over a given time. Various sub-algorithms may be applied to different securities of one group. |
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When entering trades between clients of one broker it has become possible not to specify details of the second party. They may be entered later. |
Commissions
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New functionality |
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If accrued manager’s commission in IIA subaccount in trust management exceeds the amount of money in portfolio account but is covered with planned cash revenue, it is not necessary to close current positions to write off this commission. The commission may be written off later. |
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It has become possible to indicate commission amount in manager’s order forwarding form. At order forwarding the ‘percentage of trade’ commission is frozen. The portfolio organizer supports accounting of such commission — it is accounted in limit calculation and displayed in planned position. |
Reports
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New functionality |
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The report on settled commissions now displays commissions for trades, portfolio evaluation, surcharges, services, derivative market trades, turnover by instrument, direction, etc. The report is generated in the xls form or in a separate database table. |
Pool orders
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New functionality |
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Before forwarding pool orders, the system takes into account active orders forwarded to the trading system and automatically reduces volumes of elementary orders down to available asset balance if a limit is exceeded. |
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The pool order table acquired fields ‘External confirmation date’ and ‘External confirmation time’ to enter data from an external risk system. These fields may be filled via intermediate database. |
Portfolios
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New functionality |
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To make a model portfolio there is an option of sending pool orders that automatically rebalance portfolios. The new ‘Rebalancing’ table includes options ‘Edit’, ‘Check’, ‘Generate pool orders’. It has become possible to rebalance selected portfolios or all portfolios simultaneously. |
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It is possible to send notifications informing about portfolio deviation from the model one by more than a specified value. |
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Analytical tools of portfolio organizer allow viewing position structure by assets and invested portfolio. |
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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