Solutions for Smart Order Routing (SOR) have been widely spread within the world financial market community in the past few years. Today many brokers use it as a principal technology for building trading strategies. Following the tendency as well as meeting client needs, ARQA Technologies has developed a solution to automate financial institutions operations at several trading venues to achieve a definite goal (for ex., best execution) - QUIK SOR.
QUIK SOR functionality includes forming an aggregate Level2Qutes table for several trading venues (sources of liquidity), broadcasting the best quotes for given volumes and executing the sent orders at available trading venues. The module is connected to sources of liquidity both through standard interfaces available in the QUIK server as well as through the FIX protocol.
QUIK SOR may be used both for prop trading and client servicing. At the moment the solution is applied to currency market instruments only and supports two types of currency pairs – simple and compound. On receiving quotes a client is able to send limit and market orders. If required the functionality can be expanded for equities market instruments.
Vladimir Kurlyandchik, Head of Business Development of ARQA Technologies, said:
‘ARQA always works in close collaboration with its clients, and we listen to their needs how to expand the company’s product lines. The developed solution, QUIK SOR, will allow our clients to get new trading opportunities and build more sophisticated technological infrastructures in association with other ARQA’s software products.’
ARQA Technologies is an independent software provider of solutions for operating on financial markets. The company offers a range of front-to-back solutions (front-office QUIK, middle-office midQORT and back-office backQORT) as well as SaaS from its data-centres located in Novosibirsk, Moscow and Kiev. The clients of ARQA Technologies include over 300 banks, investment and asset management companies in various countries.