There are various ways of integrating backQORT with external systems.
Ways of Integration
Inbuilt integration with QUIK software complex
The backQORT system is originally integrated with the QUIK front-office system and its modules (Broker quotation system, Non-Trade Instructions module, OMS Manager module, Alert dispatch module, Client questionnaire forming module) as main sources of information about operations on finanсial markets for backQORT.
The data exchange is performed in both directions. Reference and market data as well as data on orders and trades are received from QUIK to backQORT. Data on clients’ and own positions actual at the trading session start and position corrections are transferred from backQORT to QUIK.
The direct integration with QUIK allows solving the following tasks:
- insertion of data on traded instruments into backQORT directories,
- generation and upload of trading limits to QUIK before the trading session start,
- upload of cash limits for the derivatives market to QUIK,
- online delivery of market data and data on orders and trades from QUIK and the Broker quotation system as well,
- automated correction of positions in QUIK after execution of non-trade operations in backQORT,
- sending information notifications and SMS messages to QUIK users*.
* The functionality is available if the Alert dispatch module is installed on the QUIK server.
The integration with QUIK is performed with the help of the QORT2QUIK adapter that is a part of the QORT software product line.
Building independent integrations with 3rd party software
- Use of Intermediate database
- Web-services integration module
- Report generation in external applications
The main way of data exchange with external platforms is the exchange via the Intermediate Database (IDB) which allows importing and exporting data in a specified format. To work with IDB, standard instruments for MS SQL are used.
IDB allows transmitting data on balance of client accounts, exchange and OTC orders and trades, trade settlement stages, corrections of positions after non-trade operations (cash and securities depositing/withdrawal, commissions) from 3rd party systems to backQORT.
backQORT exports data on orders and trades, trade execution reports and other reports to external systems (for example, accounting department, depository) and generates trading limits for front-office systems.
backQORT may serve as universal storage of data on a company’s on-exchange and OTC operations. This information may be used for improved generation of reports available in backQORT by default.
To integrate backQORT with the broker’s technological platform, there is support of data exchange with external systems via web-services. Requests to export/import information are sent by an external application to the backQORT server via the Internet or a local net by using an HTTPS -protocol (X509 Certificate). The web-service publishes supported operations in the WSDL format.
Besides the export/import of data to the system, this functionality supports internal procedures in backQORT. In particular, it allows uploading limits to QUIK for a new client, calculating PIT for cash withdrawal as well as performing general PIT calculation for a fixed period with further export of data to external systems.
The functionality is available if the Web-services integration module is used.
In backQORT, it is possible to call external procedures from the backQORT terminal. One of the main functions this functionality can perform is generation of reports by using external applications and import of the generated reports to the system in xml files (in this case, the report is available in the backQORT terminal in a tabular form) as well as files for Windows applications (MS Word, MS Excel, etc.). To generate reports, data both from backQORT and external systems may be used. Besides that, external procedures can be also invoked to solve tasks where 3rd party applications are required.
The functionality is available if the External reports request module is used.
backQORT provides automatic processing of incoming SWIFT messages (including postdated ones), their reconciliation and corrections. The system can automatically generate SWIFT messages in MT518 and MT540-543 formats. backQORT can process messages about trades and their confirmation (MT540-MT548), requests and reports on positions filtered by accounts and counterparties (MT564, MT599, MT535).
There is a possibility to generate settlement instructions for trades and aggregates to send to Euroclear via the EasyWay web-based interface. The system can process incoming settlements confirmation files for trades in the EuroClear format (R20 and R23 files), information about payments/redemptions of securities (R59A).
Reconciliation with files
In backQORT, it is possible to reconcile data with certain files (execution brokers' reports, clearing reports of exchanges, database of invalid passports, etc.). After the reconciliation, the records are made if any discrepancies are discovered. Moreover, the information in the database can be corrected automatically. The reconciliation can be set according to schedule.
The reconciliation functionality is a part of the basic software package. The list of reports that can be reconciled with in backQORT is always being expanded.
Integration with platforms of reference and financial information providers
Integration with various external sources of information is implemented in additional system modules:
- The Module of integration with Reference United Data (RU DATA) allows importing data on issuers, securities (stocks, bonds, depository receipts, unit investment funds, and mortgage participation certificates), indices, ratings and rating scales, coupons, corporate events from the RU DATA database to backQORT at preset intervals.
- The Module of integration with Cbonds Database allows importing data on issuers, bonds and Eurobonds, coupons, corporate events, as well as market data on stocks, depository receipts, indices from the Cbonds database to the system at preset intervals.
- The Bloomberg DataLicense QORT program interface allows importing market data (quotes, prices and volumes of securities trading), reference data on issuers, ratings, securities and their parameters from Bloomberg to the system.
- The Bloomberg VCON drop copy QORT program interface provides trades feed (primarily Eurobonds) to the backQORT database via the BLOOMBERG PROFESSIONAL® service.
- The Module of integration with DataScope Select allows receiving and using reference and market data on financial instruments and issuers from Refinitiv in backQORT program software.
- The Module of integration with API NSD allows automatic import of reference data on issuers, securities serviced and no longer serviced in NSD, and on corporate events from the NSD database to the system by using web-services (API NSD).
Direct integrations with Moscow Exchange and NSD
The system is supplemented with mechanisms to automatically send to the Moscow Exchange orders to register clients, change clients’ details or delete clients and process the Exchange’s response.Besides that, to meet the current requirements for the provision of information on OTC trades, backQORT allows direct integration with the Moscow Exchange and the National Security Depositary (NSD). Integration is implemented in additional Modules using web-services.
- The Module of OTC trade reporting performs automatic registration, change of registration, and cancelation of OTC trades on the Moscow Exchange.
- The Reporting to NSD Repository module allows sending messages about all OTC REPO trades (including in BULK reports), currency SWAP trades, security options, FX forward trades to the NSD Repository. Repository responses about report registration or denial of registration are processed and saved.
Integration with external systems via FIX-protocol
Upon the client’s request, backQORT can be integrated with external systems via the FIX-protocol (version 4.4). The integration is performed by ARQA Technologies specialists. To assess the possibility of such integration, the specialists need to be provided with documentation for implementation of the external FIX solution (specification of the FIX protocol version used by the partner) as well as with access to testing environment of this partner to test a resulting solution.
In backQORT, there are additional customized integrations with some front-office systems (Transaq, ITS broker, ULLINK, WEB2L) as well as with various external broker’s software (the bank’s automated banking system, accounting department, and other).