Client Instructions Accounting

backQORT allows accounting trade and non-trade instructions of clients based on the Bank of Russia Regulation #577-P dated 31 January 2017. For the instructions accounting, there is a registration directory of client instructions and a register of client instructions.

Trade Instructions

In the backQORT terminal the instructions can be entered both manually and automatically generated or changed based on the reconciliation with data from QUIK. It is also possible to upload the instructions from external systems.

Types of instructions accounted in backQORT:

  • to buy (including direct and reverse REPO),
  • to sell (including direct and reverse REPO),
  • future expiration,
  • option expiration,
  • a global instruction*,
  • participation in an offer/placement,
  • a stop order to buy,
  • a stop order to sell.
* Global instructions can be set depending on the type's function (for example, to close a client position).

It is possible to account continuing client instructions (including those forwarded via the Algorithmic trading module) and package client instructions (for example, for novation of promissory notes).

backQORT allows using a standard set of statuses when processing any instruction.

Linkage of trades to instructions

The information about linkage between a trade and the instruction which caused its execution is accounted in backQORT. The linkage can be set automatically if specified conditions are met (by the exchange order’s number, by the instruction’s parameters), manually or uploaded from an external system via the intermediate database (IDB).

Non-trade Instructions

backQORT provides for a possibility to account non-trade instructions of the following types:

  • credit of cash,
  • cash withdrawal,
  • cash transfer,
  • cash conversion,
  • credit of securities,
  • securities withdrawal,
  • securities transfer,
  • securities redemption,
  • a global instruction.

The system allows accounting package client instructions (for example, for redemption of promissory notes) and instructions related to PIT refund.

Non-trade client instructions registered in the QUIK terminal can be imported from the Non-Trade Instructions module. PIT and a commission can be automatically accrued and written off for such instructions depending on the internal broker’s procedures.

In backQORT, it is possible to set alerts about some events for sending the information to the broker’s specialists or clients. For example, if a cash withdrawal amount increases a specified value or there are particular key words in the instruction’s comment, the system can automatically send an alert about these suspicious operations to authorized specialists.

The system is supplemented with popping-up notifications about new non-trade instructions of the broker’s clients.

After execution of non-trade instructions, backQORT can adjust trading limits in QUIK in the online mode.

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