QUIK digest for the first quarter of 2019
Dear users of ARQA Technologies software products, we would like to offer to your attention the digest of the main changes in QUIK products and events that took place in the first quarter of 2019.
Seminars for clients
ARQA Technologies together with Kazakhstan Stock Exchange (KASE) held ‘Trading access to Kazakhstan Stock Exchange via QUIK’ seminar. The representatives of the Kazakhstan financial market were briefed on capabilities and services of QUIK software, and technological features of the system operation.
The 15th annual seminar for clients and partners was held in Moscow. In which about 350 representatives of ARQA Technologies clients from 102 banks, investment and management companies took part.
Training and partnership projects
ARQA Technologies continues introducing QUIK functional capabilities to users to simplify interaction with the broker system. The company published new videos on the official YouTube channel and on the company website:
Based on the positive experience of the training project in 2018 to hold ‘QUIK from developer’ monthly webinars together with Moscow Exchange School, it was agreed to launch a new series of webinars in 2019 with topics covered not only introduction into QUIK terminal functionality, but also examples of its practical usage.
As a technological partner of Sberbank, ARQA Technologies took part in the development of AI chatbot interface for online support of Sberbank Markets electronic trading system. The company specialists provided support for the chatbot functionality at the infrastructure and interface levels.
New versions of the software
This version supports changes in the Moscow Exchange FX Market trading system that came into force on 4 March 2019:
- operations for settling of unfulfilled obligations via normal and swap negotiated deal orders,
- trades execution at the weighted average rate via operations for the currency pair USDRUB_WAP0.
The version supports changes in the Moscow Exchange Securities Market trading system that came into force on 4 March 2019:
- operations in the board ‘Anonymous REPO with a central counterparty (CCP)’ for 1 month and 3 months with settlements in Euros and US dollars,
- a new exchange mode for settling REPO with CCP,
- the dark pool trading mode, migrated to T+ settlement.
The version supports changes in the Moscow Exchange Derivative market trading system that came into force on 4 March 2019. The main change relates to entities separation for participants of the exchange derivative market into ‘Trading Member’ and ‘Clearing Member’.
The version of the interface supports the following trading modes: 'REPO with Federal Treasury: closed form' (RPFC) and 'REPO with Federal Treasury: open form' (RPFO), which serve for execution of operations with the Federal treasury.
- An ability to receive notifications of orders forwarded from the trader’s terminal under clients’ instructions.
- A possibility to fully disable delivery of push-alerts on clients’ mobile devices.
- Transfer of notification text templates' storage from xml files to the module database.
- Set up various templates for various types of notification delivery.
- Choose different alert languages for different clients.
- An option for automatic ‘cleanup’ of the notification log for a number of days specified by broker.
These versions have expanded operation and risk management functionalities:
- it is possible to execute OMS orders right to a client’s trading code by several trades and generate one booking trade to get an aggregated trade for a total amount when OMS order is executed,
- when operating it is possible to limit OMS orders without generation of booking trades,
- OMS orders may be registered without specifying clients during the execution,
- it is possible to ban operations with OMS orders for instruments with the currency that matches neither OMS order currency nor its settlement currency,
- in case of OMS orders for spot instruments with settlement currency differs from the price currency, limitation of operations and position keeping are made in the price currency,
- there is an option to forward market (without prices) OMS orders checked for client’s funds adequacy, the order volume is calculated by current market prices,
- the checking functionality is supported for additional ‘soft’ (that can be violated) limits in the Limit calculation library of the QUIK server.
Introduced a number of interface modifications for a better user experience:
- the user filter for the currency list on OMS order forms that allows Sales to work only with currencies actual for them,
- new options in the context menu of the OMS order table for cancelling all orders, linked with chosen OMS orders, and linking exchange orders without opening entry forms of OMS orders,
- a possibility to link the ‘Time and Sales’ table, Level2Quotes table, and a graph to the OMS order table.
- A new algorithm for execution of sales ‘EES3’ enables a model to provide quotes for a specified volume using a relative and absolute spread but supporting a changed approach to on-exchange execution of client orders. A peculiarity of the algorithm is lack of control for client orders price deviation from calculated quotes.
- Orders with ‘out of market’ price are registered in the Level2Quotes table with the ‘Active’ status, and are waiting for a counter offer.
- It is possible to set a schedule for currency trading instead of separate setting of trading schedules for instruments nominated or traded in this currency.
- A possibility to ban active operations by classes and instruments in the days, when they are not traded.
- A possibility to prohibit forwarding orders with certain execution terms.
- Support of operations with fractional cash values that exceed two digits after the decimal point.
- An option to encode FIX session parameters by using SenderCompID, TargetCompID, and Password.
FIX adapter and FIX drop copy additionally include:
- a special command for setting parameters of FIX messages via XML files which simplifies setting multiple conditions on various tags,
- transmission of the volume of trades in the currency of OMS orders (for cases when order price currency and settlement currency are different).
FIX adapter and FIX Client Connector now have the ability to work with various stop orders.
User terminals and specialized applications
- The Settlement period filter was added to the ‘Client portfolio’ table, that allows selecting a settlement period for which the module calculates funds sufficiency level. If the client portfolio is calculated by a large number of client codes, this filter reduces burden on the platform by excluding from margin indicators calculation settlement periods that do not affect funds sufficiency level calculation.
- The ‘Positions by instruments’ table acquired ‘Instrument full name’ and ‘ISIN’ parameters.
- The terminal toolbar has the increased size of the ‘Global client filter’ field. This allows viewing its full content (for example, user’s full name) when using the functionality that displays the field value set by trader instead of a client’s code.
New features were added to both mobile terminals:
- an updated design of the interface, improved ergonomics to display graphs, changed operation confirmation windows,
- an option to display own orders, trades, stop orders, and position levels on graphs and a possibility to move own orders and stop orders on the graph,
- sorting instruments in a portfolio from maximum to minimum (instruments with maximum volume are on top),
- search by orders and trades using an instrument name or its ticker,
- a possibility to work with cash values that exceed two digits after the decimal point,
- the alphabetically generated list of traders in the send message menu.
QUIK Android X is now able not to disconnect from the server in the background mode.
iQUIK X additionally supports:
- a possibility to select periods for drawing charts with displaying the minimum and maximum prices of the instrument for a specified period, and the percentage of change between the opening price of the first candle and the closing price of the last one,
- display of the settlement currency in the upper right corner of the portfolio window,
- online update of prices in the order entry window,
- automatic replacement of a PIN-code received via SMS to confirm authentication or a non-trade instruction.
The functionality of rolling over and closing client positions has been developed further:
- client positions may be rolled over on Saint-Petersburg exchange markets supported in QUIK,
- lists of instruments to roll over long and short positions may be specified separately,
- the setting in ‘Templates for rolling over’ makes it possible not to roll over long positions for specified client codes,
- there is a change in generation of a list of clients for rolling over positions on the FX market — a new setting was added which allows specifying clients with the value of the ‘leverage’ parameter to roll over positions,
- there is a possibility to set a discretionary list of instruments for closure of currency positions.
The implemented improvements are related to the limit calculation library:
- support of new tariff plans of the Moscow Exchange FX Market trading system that came into force on 4 December 2018,
- a possibility to choose a particular non-frontal future for PC scanning when calculating portfolio collateral (PC),
- a possibility to change priority of template commission for REPO operations for a higher one than in general settings and the commission scale of REPO,
- a new option (after activation) enables writing off of cash during trade execution that is performed for all execution settlement dates from Т0 to Tx.
For all questions on operation of the QUIK software, please contact QUIK Technical Support Team: +7-383-2191606, firstname.lastname@example.org
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