Electronic Document Flow for Brokers

Registering clients in QUIK using Client questionnaire forming module

This procedure usually takes place when the broker signs an agreement with a client and registers him/her in the broker's accounting system.

To register a new client, the broker needs to obtain the client's personal data, register him/her in the internal accounting system, sign a set of documents, and issue access keys and security certificates.

Client questionnaire forming module makes it possible to substantially simplify the process of registration of a new client as follows:

• A distribution package of the QUIK Workstation containing the Client questionnaire forming module is made available for downloading on the broker's site or another public resource. The package is downloaded by a new client.
• At first QUIK launch the client is asked to fill out a personal data form (the contents of the personal data form can be customized to broker requirements).
• After the client fills in all required personal data, the form is then sent to the broker (to the module's web server) along with a request for certificates.

• The server side of the Client questionnaire forming module periodically checks for new incoming data and, once such is detected, sends a request for a digital certificate to the broker's certification authority.
• On the basis of received personal data and a certificate request, the system forms a package of documents for the client creating an account in the QUIK Administrator, and assigns a digital certificate.
• After the client visits the broker's office and signs the documents, he/she obtains access to the QUIK system.

Thus, the Client questionnaire forming module substantially cuts down client registration time, reducing the process to one visit by the client to the broker's office, which does not have to last long since all the necessary documents are ready to be signed by the time of the visit.

If the broker uses backQORT back-office software, the personal data from the form can be automatically imported into backQORT and used to create a QUIK account for the client. Thus, the module will simplify and automate the procedure of registering a new client in QUIK as much as possible. The broker itself configures an access right template for a new client. The template envisions rights for all markets but the new client is provided rights only to those markets where the client has trading accounts in backQORT.

Using backQORT back office for maintaining client document registry

While clients are registered and provided with services, various documents need be prepared and maintained, including:

• service contracts,
• powers of attorney,
• orders to open and close accounts,
• orders to change tariff plans.

The backQORT back office system features a number of automated procedures that simplify keeping the above-mentioned and other client documents, such as:

• automatic data import from a completed questionnaire into the back office system and creation of an account in QUIK,
• preparation of a set of documents based on a predefined template,
• monitoring the effective period of documents and sending notifications.

Using Non-Trade Instructions Module to receive and process non-trade orders

When trading on financial markets, clients need to issue various non-trade orders, such as:

• orders to withdraw assets (both cash and noncash),
• orders to deposit additional cash and securities into the broker account,
• orders to move assets between trading venues and convert them.

The Non-Trade Instructions module allows brokers accept signed non-trade orders from
clients using QUIK terminals, evaluate and control associated risks and manage
related order routing throughout internal departments.

Using report generation module to provide reports to clients

With the help of Report generation module brokers’ clients may view their own operations, balances, limits, and orders for any trading day in the form of a separate report. This spares the clients the need to devise their own system for keeping broker reports.

From the functional point of view, the module consists of a gateway that receives requests and generates reports, a database that stores all necessary information, and an Exchange data export module that downloads information from the exchange into the database.

The report generation process is initiated by the client selecting a specific menu option in the QUIK workstation. Currently, the following report types are available:

• all transactions of the client,
• all orders of the client,
• all stop orders of the client,
• all non-trade orders of the client,

• client's portfolio,
• client's positions on Moscow Exchange Derivatives Market,
• one non-trade order,
• all trades of all clients,
• client’s address orders,
• files sent to the client.

All of the reports may be signed with a broker's digital signature. Report templates may be modified and new ones added based on broker requirements.

In addition to generating and sending reports, the Report Generation Module supports different file formats (reports and documents in formats Word, Excel, PDF, html, etc.). All transmitted files may also be signed with a broker's digital signature.

The back office system backQORT may also automatically generate daily client reports and make them available in QUIK terminals through the Report Generation Module. The same mechanism may also be used to send monthly reports to clients and getting them countersigned with a client's digital signature.