capQORT allows automation of trading operations of asset management companies. One of system capabilities is order routing within an asset management company and execution of trading operations via QUIK of execution brokers.
The system serves for execution of trading operations through any number of execution brokers. Broker orders in QUIK may be forwarded from a single terminal capQORT. Orders of each trader may be signed with an individual digital signature.
capQORT allows execution of exchange and OTC trades on Russian and foreign venues with the following instruments:
- securities — stocks, bonds (spot, REPO, NDM)
- FX (including ‘currency SWAP’ trades)
- derivative financial instruments
capQORT has a functionality to forward orders both for a particular portfolio and a group of portfolios. For this purpose the system is supplemented with a ‘pool’ order mechanism. It allows forwarding general orders to execute operations with assets for several portfolios simultaneously. It is possible to set the total volume of assets as well as an asset share in specified portfolios. capQORT calculates volumes, generates elementary orders for chosen assets and takes into account results of client portfolios.
There are several standard ways of choosing portfolios when forwarding pool orders:
- by analytical portfolio
orders with specified instruments are generated by all portfolios included in the analytical portfolio
- by IIA groups
portfolios of IIA type corresponding to a chosen strategy are selected and orders with specified instruments are generated for all selected portfolios
- selection of portfolios by conditions
portfolios that meet a certain condition are chosen from all portfolios (for example, portfolios containing at least 10% of Gazprom ordinary shares) and orders are generated with specified instruments for those chosen portfolios
capQORT allows creating model portfolios to implement various investment strategies. One or several benchmark portfolios may be used for each group of clients that simplifies monitoring the state of portfolios and their adjustment.
In case of portfolio deviation from a benchmark, the system calculates parameters and generates orders to adjust the structure of chosen portfolios to a specified benchmark upon user’s request.
Benchmark portfolios may be set manually. Besides that, an index composition may be used as a benchmark and downloaded automatically from the Moscow Exchange website through integration with web services Cbonds or manually from csv files.
It is possible to set a restriction in the system to control maximum deviation of a portfolio structure from a benchmark. Notifications are sent if deviation exceeds a specified value.