QUIK OMS System
QUIK OMS* (order management system) performs a full cycle of clients’ order management including order entry, processing, routing, trading, and STP reporting. The system meets the requirements of broker dealers in servicing institutional and retail clients as well. The system supports equities, fixed income, FX instruments, and futures.
QUIK OMS consists of two software products: OMS Manager Module and Broker Quotation System. The OMS Manager Module is the core element that automates interaction of its users via GUI interfaces with adjusted settings. The Broker Quotation System facilitates OTC trading. If necessary, the system can be supplemented with the Algorithmic Trading Module which allows execution of OMS orders using algorithms available in the Module.Being a part of a multifunctional QUIK OEMS, the system makes effective use of risk management functionality and connectivity available in QUIK. QUIK OMS can operate in conjunction with a QORT product — midQORT that serves for position keeping beyond a trading day, P&L calculation, and reporting.
Order Management and Routing
- OMS order database (global order warehousing).
- Pre-trade control of OMS orders, freezing the client’s position on OMS order registration and remitting cash on booking (i.e. asset transfer to the client’s account).
- Delegation of authority and order distribution between Traders.
- Adjustable interaction schemes between Sales and Traders.
- Various order types – House and Client OMS orders, limit, market, Good-Till-Date (GTD), Good-Till-Cancel (GTC), and algo orders (when the Algorithmic trading module or external algo machines are used).
- Monitoring and management for linked orders — split, parent, and child orders.
- Various options for OMS order execution — on-exchange, off-exchange, via algos, via execution broker’s platform, via external algo machines, via another OMS.
- One QUIK OMS installation to service several legal entities.
- Market data via direct QUIK interfaces to Russian (MOEX, SPB Exchange, SPIMEX) and international (CME, Eurex, LSE (spot and derivatives), Turquoise and WSE) trading venues.
- Market data delivery via QUIK solutions from market data vendors Bloomberg, Interactive Brokers, Nanex, QuantHouse, FIS Global Network (SunGard), and Thomson Reuters.
Trading and Processing
- On-exchange and OTC execution, execution via QUIK Algorithmic trading Module or external algo machines.
- Setting up OMS classes for assets with different trading and settlement rules and for management of user rights as to asset groups.
- Selection of a fully automatic execution mode for all OMS orders or a mode whereby Sales or Trader selects an execution option (including automatic).
- Limit check at the level of users and client codes (by counterparties, available cash, instruments in a position).
- ‘Fat finger’ control — size, price deviation, black list of instruments. Application of ‘strict’ and ‘soft’ restrictions.
- Trade audit and data archiving.
- Inbound and outbound integrations with external systems via FIX — execution broker platforms, post-trade broker platforms, clearing and settlement systems.
- Integration with client order collection systems (Bloomberg TSOX), broker networks (Bloomberg EMSX, FIS Global Network (SunGard), off-exchange trading venues (Bloomberg TSOX), other OMSs (Bloomberg AIM, TOMS and SSEOMS, Fidessa, QUIK (OMS2OMS), ULLINK).
- Client — order submission (by voice, e-mail, FIX, or from the QUIK Workstation). When Clients forward OMS orders from the QUIK Workstation, they can change, cancel, and review them in tables of OMS orders and trades. A FIX client and Trader may interact the FIX adapter program interface.
- Sales — order registration, booking, tracking, change, recall, and return for execution; fees and commissions setting; client reporting. Orders with incorrectly filled parameters are accepted for processing and corrected.
- Trader — order management, on-exchange, OTC and algo execution. Users can combine the roles of Sales and Trader.
- Middle officer — access to any information and any operation, exclusive rights to change and cancel past OTC trades.
- Special forms based on standard ones for the QUIK Workstation are used to work with OMS orders and trades for Clients, Sales and Traders.
- ‘Hot keys’ designed for easy processing of OMS orders.
- Internal system of alerting Clients, Sales, Traders on events relating to status change of OMS orders and trades.
Client form for OMS order:
Sales/Trader form for OMS order:
Hardware and Software Requirements
Processor Intel Xeon Gold 5118 or better,
2 GB RAM,
50 GB available hard disk space.
OS Windows Server 2008/2012/2016 (x64).
DBMS Microsoft SQL Server 2008/2012/2014/2016.
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