QUIK digest for the second 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 second quarter of 2019.
Optimization of technological infrastructure
ARQA Technologies has completed a big infrastructure project (November 2018 – May 2019) intended to upgrade its service core, which is responsible for providing outsourcing, backup, and hosting services for company products. It has also migrated much of its corresponding IT infrastructure to the DataSpace data center. The aim of the project is to bring the company’s technological infrastructure up to the highest level of the standards and improve the reliability of its services, in order to comply with the new GOST R 57580.1−2017 information security requirements for the financial sector.
Conferences, exhibitions, seminars
ARQA Technologies took part in the 12th annual International Derivatives Expo (IDX) conference and exhibition in London. At its stand the company presented the QUIK platform, QUIK OMS solution, line of RISQ solutions for intraday pre- and post-trade control of trading operations as well as FX Dealing which provides access to FX instruments for broker’s clients.
ARQA Technologies in collaboration with QuantHouse were awarded at the 2019 Waters Technology Sell-side Awards held in London. The nominees won the 'Best Alliance or Partnership' award for a joint project launched in 2018 to grow the opportunities in using ARQA Technologies’ QUIK OMS on the European financial market. The Sell-Side Technology awards recognize the innovative technologies of the financial market, which are focused on the sell-side companies' needs and meet the regulatory requirements, as well as risk management tasks, enhancing the efficiency and transparency of brokerage.
In the end of May the company, with the support of Armenia Securities Exchange, held a ‘Trading access on Armenia Securities Exchange via QUIK’ seminar in Erevan. The event was attended by 25 participants of the Armenian financial market.
In the second quarter of 2019 ARQA Technologies together with MOEX School organized two practical webinars for users of QUIK terminals: ‘Client positions, deferred settlements, and margin lending’ and ‘QUIK for derivatives market: tables, nuances of operation execution, visualized positions, graphs, option analyst’.
New versions of the software
The new program Interface of NSD clearing system allows registering OTC trades in the NSD system and receiving reports on order execution.
The Interface supports changes in the Moscow Exchange FX Market trading system, which came into force on 22 April 2019. The operations are now available with the new currency pairs JPYRUB_TOM and JPYRUB_TODTOM, and with the experimental order book for the new USDRUB_TDB instrument.
The new version supports changes in the Trading System of the Moscow Exchange Securities Market, which entered into force on 22 April and 17 June 2019:
- RPMA board (REPO with Shares) was disabled. Its tools were switched to RPMO board (REPO-M), previously called RPMO board (REPO with Bonds),
- new instrument classes were added to transmit execution of OTC trades in the accrued interest (AI) of the bond market,
- instrument classes were added which support operations in new boards with settlements in Euros.
News and market data interfaces
- The new version supports market information delivery on spot instruments of Wiener Börse exchange (stocks, warrants, rights, and bonds).
- Now the indexes are transmitted as a separate type of QUIK instruments.
- The functionality was implemented to ignore anonymous trades received in the post-trading period to correctly process stop-orders in the non-trading period.
The new KYC Module allows storing and transmitting clients' information and their trading codes, previously exported from broker’s accounting system, into the QUIK Workstation.
New options to work with OMS orders:
- adjustment of OMS orders with enabled OMS-classes limitation,
- a choice of the settlement currency and cross rate either after execution of one OMS order or group execution of several OMS orders,
- ‘linkage’ of the current separate exchange orders to OMS orders using the left mouse click (drag-and-drop) from the ‘Orders’ table.
New features in the role system:
- the ‘Client’ user role supports a new mode without booking trades when executed right to a client’s trading code,
- users with the combined Sales and Trader role now can receive notifications of newly registered OMS orders, their rejection/cancellation, and fully executed OMS orders,
- for FIX clients with OMS orders executed after manual cross rate setting, ‘Trader’ users can specify in the cross rate form whether such orders must be grouped before being sent to the client.
- It has become possible to resend orders to the exchange trading system on behalf of a client. The resending is ensured by division of a client order, non-multiple of the exchange lot, into two parts with further on-exchange execution of the first part (multiple of the exchange lot), and intramodule execution of the second part (non-multiple balance).
- The OTC reporting functionality acquired an option to change counterparty’s company. It allows setting another trading participant as the second party of a trade.
- A simultaneous choice of several instrument sources is available in the EESFX algorithm for more flexible setting of liquidity sources.
This version supports operations with options of American and European types (margin ones and with premium).
- For backward compatibility with client applications in FIX adapter and FIX drop copy new tags are now transmitted in messages in case they are supported by the corresponding official FIX protocol version (4.2, 4.4, 5+). Transmission of non-protocol tags can be activated by setting the XML Schema.
- In FIX adapter and FIX Client Connector, when forwarding contingent orders of ‘Take-profit and stop-limit’ and ‘Stop-limit at market price’ types, it has become possible to set their expiration dates.
User terminals and specialized applications
The main changes are made to improve ergonomics:
- the authorization window was changed (a choice of a language and color schemes for the screen is shown as buttons, the functions to change a password and profile are transferred to the ‘Setting’ option of the terminal menu),
- there is a new control menu with redesigned buttons. The menu is divided into a main (horizontal on the right) and additional one (vertical on the right),
- the entry order/stop order form was completely modified (display of order volume calculated by parameters specified in the form, availability of particular entry fields depending on the order type),
- the Quotes table was improved (a possibility to work with several lists of instruments, the highlighting in tables for instruments chosen from the list and their display on the graph, a choice of color indication for instrument prices),
- a new ‘Alerts’ table was added (available if Alert dispatch module is a part of the broker’s QUIK configuration) for clients to set SMS alerts ‘By parameters’ and ‘By orders’,
- the general terminology of the web terminal (tables and their parameters, order entry window, order parameters) was adjusted to the terminology of the main QUIK Workstation.
- A number of menu items were redesigned.
- Chart period selection was added with display of 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.
- Yield transmission was added to the Level II Quotes of bonds.
The main changes relate to functionality of the limit calculation library (LCL):
- there is a new ‘Volume-based commission’ type,
- a new ‘Commission parameters currency’ setting was added,
- it has become possible to control and calculate operations when executing trades at the weighted average rate via operations for the currency pair USDRUB_WAP0.
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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