QORT digest for the first quarter of 2018
Q1, 2018
Dear users of software products from ARQA Technologies, we are offering for your attention the digest of main features introduced in solutions based on QORT software platform as well as main events and improvements made in the first quarter of 2018.
Events
14th annual seminar of ARQA Technologies in Moscow
Held on 16 February 2018 in Moscow, the annual seminar of ARQA Technologies gathered 360 participants representing over a hundred companies - clients of ARQA Technologies.
The seminar was attended by representatives of Russian and foreign companies — ARQA Technologies’ partners: Bank of Russia, Interfax, Moscow Exchange, NAUFOR, NFA, Saint-Petersburg Exchange, SPIMEX, Autochartist, Bloomberg, Cbonds, DataSpace, FIS, London Stock Exchange, QuantHouse, Thomson Reuters, Warsaw Stock Exchange.
The main substantive part of the seminar was given to two QORT product presentations:
- on capQORT product development (Alexey Baburin) — pdf-presentation,
- on use of backQORT as operating back-office (Vladimir Kurlyandchik) — pdf-presentation.
Generation of XBRL reports in backQORT
The new version of automated back-office backQORT acquired an option to generate some report forms for non-credit financial organizations in XBRL format.
The system allows generating the following OKUD forms in XBRL format: monthly report forms 0420415, 0420417, 0420418, 0420422 as well as quarterly OKUD report forms 0420416 and 0420427.
Initial data for report forms is converted in csv files in accordance with Directive of Bank of Russia # 4621-U of 27 November 2017. The generated files may be uploaded to the ‘Converter’ and ‘XBRL Questionnaire-editor’ software of Bank of Russia. Upon client’s request, some report forms may be improved for uploading in csv files to such third party XBRL editors as Fujitsu Interstage xWand, ERP Band and other.
New backQORT module — Module of monitoring non-standard operations
In the last quarter ARQA Technologies developed a new backQORT module which has received interest from numerous existing and potential clients of the company.
The Module is designed to discover trades and non-trade operations with characteristics of unusual operations as defined by Regulation of Bank of Russia #455-P of 15 December 2014, and exchange orders and trades conforming to market abuse manifestations in line with Federal Law #224-FZ of 27 July 2010.
The Module allows forming registers of unusual operations and operations conforming to market abuse manifestations, using additional filters for these operations, viewing detailed information from the register for every identified case. See detailed information here.
Data from Thomson Reuters in QORT products
ARQA Technologies is considering a possible development of integration solution for QORT product family to enable data sourcing from Thomson Reuters DataScope Select. This strategic solution of Thomson Reuters serves as source of price and reference data as well as related analytics for all asset types. The central element of such integration will be an opportunity to obtain data from Thomson Reuters Pricing Service, which represents relevant prices for various asset classes on financial market, primarily for international fixed income and derivative instruments. The service represents a number of auditable valuation approaches for each class of assets. It also puts forward a scoreboard of valuation robustness and liquidity for every instrument. This service is applicable for tasks of achieving conformity with Basel 3, IFRS13, MIFID II and other regulations.
Along with Pricing Service, DataScope Select provides reference information for a broad range of assets (details of issued securities, ratings, particulars of issuers), corporate events (dividends, M&A, shareholder details and any other information of significance for company performance). If you might be interested in using the new integration module in the QORT product line, please contact us at sales@arqatech.com.
Software product development
Middle-office midQORT and back-office backQORT — solutions for banks and
investment companies
Integrations
|
New functionality |
Supported in |
|
It has become possible to specify both the bank which issued the receipt and underlying asset issuer as a depository receipt issuer when importing data from RU DATA. |
backQORT |
|
If requesting data from RU DATA it is possible to set a number of calendar days before the current date required to download data from the system instead of date when data update starts. |
midQORT, backQORT |
System usability
|
New functionality |
Supported in |
|
It has become possible to choose a currency to display the following parameters: planned and actual ‘estimated value’ and ‘estimated price’. Besides that, any source of currency data may be used for these parameters. |
backQORT |
|
Trade orders may be linked to trades included in aggregate. |
midQORT, backQORT |
|
The scheme is supported where all client negative positions are rolled over to one account and then necessary trades are executed on OTC market to cover a total negative position. |
backQORT |
|
Most of trade stage parameters may now be edited via IDB. Previously, when editing parameters of a trade stage, the latter needed to be cancelled and reloaded. |
midQORT, backQORT |
|
Key correction parameters may be changed both via terminal and IDB. It is possible to allow editing key correction parameters only via terminal. |
midQORT, backQORT |
|
Functionality was added which allows automation of saving terminal settings at terminal’s closure, automation of making setting file copy, combining terminal settings loaded form file with current settings. |
midQORT, backQORT |
Reconciliation
|
New functionality |
Supported in |
|
During reconciliation with Moscow Exchange reports, information about clients who closed their brokerage accounts is automatically sent to Moscow Exchange. Besides that, status of such clients’ documents is changed to ‘Agreement terminated’. |
backQORT |
|
Reconciliation is supported for Moscow Exchange reports on FX market commissions. During reconciliation the data on commission settlement stages is imported from exchange report in accordance with #577-P regulation. |
backQORT |
|
It has become possible to create a rule for generating client reports only in case of debt presence and account inactivity. |
backQORT |
Reports
|
New functionality |
Supported in |
|
The current requirements for Certificate 2-PIT form are supported in accordance with Order of Federal Tax Service # MMV-7-11/19@ of 17 January 2018@. |
backQORT |
|
Report form for portfolio income was changed. Some fields now display data both in report currency and instrument currency. |
midQORT, backQORT |
Instruments
|
New functionality |
Supported in |
|
The latest system version classifies trades as trades with DFI by instrument code. |
midQORT, backQORT |
|
On the basis of ISIN data received from QUIK, the system defines a class (Russian or foreign bonds) and type (corporate bonds or corporate Eurobonds) of instrument and sets a corresponding class and type of instrument in QORT. |
midQORT, backQORT |
Automation and group operations
|
New functionalit |
Supported in |
|
It has become possible to form aggregates without specifying a list of clients or subaccounts. Subaccount category is enough. Such categories are recorded in a separate directory. |
midQORT, backQORT |
|
There is a functionality to resend scheduled margin calls in order to avoid failed sending. Resending is made only if there is no response from client. |
midQORT, backQORT |
|
Group adding/changing SDI parameters (additional settlement details for OTC trades) is available for selected trades. |
backQORT |
Orders
|
New functionality |
Supported in |
|
When generating General instructions additional parameters are used, which help to understand general instructions for what markets are signed with clients. |
backQORT |
|
Client instructions may be filtered by trading venue sections, ways of forwarding, instruction type and category. The field value ‘Order type’ is brought in line with Bank of Russia #577-P regulation. |
backQORT |
Commissions
|
New functionality |
Supported in |
|
For several tariff plans it is possible to accrue and write off commissions for trades which were executed between two clients of one broker. |
midQORT, backQORT |
Middle-office capQORT — solution for asset management companies
Integrations
|
New functionality |
|
In integration with QUIK the following options were added:
|
|
Integration with RU DATA acquired the following functionality:
|
Instruments
|
New functionality |
|
Now the system classifies trades as trades with DFI by instrument code. |
Automation and group operations
|
New functionality |
|
It has become possible to form aggregates without specifying a list of clients or subaccounts. Subaccount category is enough. Such categories are recorded in a separate directory. |
|
Most of trade stage parameters may now be edited via IDB. Previously, when editing parameters of a trade stage, the latter needed to be cancelled and reloaded. |
|
Key correction parameters may be changed both via terminal and IDB. It is possible to allow editing key correction parameters only via terminal. |
Order processing
|
New functionality |
|
All traders acquired an option to use their digital signatures (trader’s ID) to sign forwarded orders. |
|
When forwarding pool orders from a portfolio organizer it has become possible to specify a number of instruments as well as instrument share in analytical portfolio. The system automatically calculates order volume needed to get a specified instrument share in portfolio. |
|
All parameters of executed orders may be viewed in order configuration dialogue without their editing. |
|
When forwarding orders, ACI may be shown both for one security and total volume of securities in order. |
|
Asset managers and traders may now exchange messages after every forwarded order. Information about events of particular orders (registration under restrictions, partial or full execution, order cancel) is also shown there. |
Limits
|
New functionality |
|
When checking fund and security adequacy by OTC trade order, not only the account with a forwarded order but all portfolio accounts are taken into account for pool orders. |
|
A new type of restrictions control was added — control of maximum bond duration in portfolio. Orders reducing portfolio duration after restriction violations are accepted. |
|
Rights to generate and change restrictions now are set separately from other rights in the system. |
|
It has become possible to make restrictions controlling fundamental issuer indicators: issuer’s own capital, own pre-tax income, EBITDA. |
System usability
|
New functionality |
|
At any stage orders may be sent for checking from a portfolio organizer. The check may result in order approval by a supervisory specialist or request for order cancel. Approved order is restored with the stage operated before order check. |
|
The form for pool order forwarding now displays lot volume. |
|
Functionality was added which allows automation of saving terminal settings at terminal’s closure, automation of making setting file copy, combining terminal settings loaded form file with current settings. |
Contacts
With all questions about products, terms of use and testing, please contact the Sales and Marketing Department at ARQA Technologies:
+7-383-2191619, sales@arqatech.com
With questions about product use please contact QORT Support Service:
+7-383-2191699, qortsupport@arqatech.com
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