Bookbuilding module
The module serves for preliminary collecting of orders from clients to participate in public and nonpublic placements and their processing by the broker. The orders forwarded by clients are automatically sent to the trading system by schedule or upon the client’s request. The status of orders is tracked in the QUIK workstation, webQUIK, mobile terminals iQUIK X and QUIK Android X.
Module Functions
- Keeping a directory of instruments available for participation in placements.
- Reception of requests from clients to register/cancel orders for participation in placements.
- Reception of transactions from the broker’s employees to confirm/reject requests for cancellation/forced cancellation of client orders.
- Allocations by the broker’s employees (requests to change the client orders’ volume).
- Forwarding client orders to the trading system (automatically or upon the client’s request).
- Alerting end clients and the broker’s employees to changes in the status or order parameters.
- Changing and storing of placement parameters (placement date, offering price, counterparty, par value, coupon range, date of the order book opening and closure, commencement date of placement on the exchange).
- Setting of a schedule of the Module’s working modes (stages of placement), automatic processing of their activation, control of allowed operations of end clients and the broker’s employees at the current stage.
- Transmission of directories and orders to the QUIK server.
Supported Asset Types:
- stocks,
- bonds.
Supported Order Periods:
- GTD (Good Till Date),
- GTC (Good Till Cancel).
Supported Order Types during Registration:
- by price and quantity,
- by volume.
Connection Scheme
Placement orders are registered via the program interface FIX adapter.
For nonpublic placements the Broker quotation system can be used.
Roles of Module Users
A ‘Client’ is a user who can register placement orders in the system via his or her own QUIK workstation.
A ‘Broker’ is a user who can execute operations with clients’ orders. Various users of the given role can work with the same order (for example, rejection of the request for cancellation is made by one broker, and allocation of the same order — by another broker).
The Broker has a right to perform the following operations:
- confirmation of orders which require the Broker’s confirmation,
- rejection of orders which require the Broker’s confirmation,
- changing of the allocation size for orders/instruments,
- cancellation of orders,
- confirmation/rejection of requests for cancellation of the Client’s order.
Placement Stages
The placement procedure is divided into the following stages (with duration up to several days per each stage):
- Collecting orders in the order book.
Collected orders are stored in the order book.
- A period of order reception by the Broker (not necessarily present).
This stage allows specifying parameters of client orders and changing placement parameters.
- A period of sending orders to the exchange.
This stage is automatically defined by the Module based on the set data and time of opening/closure of the order book, order processing by the Broker and a start/end of on-exchange placement. Also, the Module simultaneously provides automatic change of stages at the specified time and execution of required actions. The status of each stage is transmitted to the Quotes table of the QUIK workstation.
Orders for placement participation can be exported to a separate database by using the Market Data Export module.
Hardware and Software Requirements
| Hardware | Software |
|---|---|
|
Processor Intel Xeon Gold 5118 or better, 2 GB RAM, 20 GB available hard disk space. |
OS Windows Server 2012/2016/2019/2022 x64, Astra Linux 1.7.4 (Voronezh). DBMS Microsoft SQL Server 2012/2014/2016/2017/2019/2022, Postgres Pro 13/14/15 (Standard, Enterprise) for OS Astra Linux. |
Use Options
| Purchase | Managed services / System backup | Hosting | Testing |
|---|---|---|---|