Reconciliation

backQORT supports a range of service functions to reconcile data with other systems.

Internal reconciliation

  1. Reconciliation of the balance of securities with the data from QUIK.
    This operation is used to verify the current security positions given by the trading system.

    A report is generated based on the verification results.

    Reconciliation may be helpful to find short-term discrepancies for positions resulting from executed trades that have not been yet completely processed in the internal accounting system, OTC trades or non-trade operations.
  1. Reconciliation of cash balance using the Intermediate Database (IDB).
    This functionality is used to verify information about current positions of accounts.

    The data stored in backQORT is verified against the data received from external applications via the IDB.

    Based on the reconciliation results, the system displays the number of verified records and the number of discovered discrepancies, and generates a verification report. The verification results can be used to adjust positions.

Reconciliation with reports from external systems

  1. Reconciliation with reports from exchanges and clearing organisations
    backQORT uses exchange reports to verify data against the internal accounting parameters calculated based on the information received from QUIK or another front office system, and to import missing data which is available only in the form of exchange reports.

    For each report type, a certain set of fields is checked.

    Discrepancies discovered during verification are recorded into a separate table named Records with discrepancies.
  1. Reconciliation with reports of the servicing broker
    The system allows for reconciliation of data with reports of the servicing broker whose client is the owner of backQORT.

    During reconciliation with primary broker's reports, backQORT automatically imports credited and written-off variation margins. Discrepancies discovered during reconciliation of the servicing broker with the internal accounting data are recorded into a separate table.

    The system can report OTC trades to the London Stock Exchange (LSE).
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