BCS partners with ARQA Technologies
23 October 2013 London
Image: Shutterstock
BCS Prime Brokerage has partnered with ARQA Technologies to implement ARQA鈥檚 automated back office software, backQORT.
BackQORT, which provides record keeping, trade settlement, regulatory reporting and partial management accounting, will provide BCS clients with access to new markets and a more efficient transaction clearing model.
The BCS platform will now perform accounting of spot instrument operations in various markets including the Moscow Exhange, the London Stock Exchange, and the MOEX Currency market.
The backQORT system makes calculations of various taxes applicable to companies operating in accordance with EU regulations. Improvements also include a function to directly clear transaction at exchanges and through international clearing organisations.
Tatiana Chepeleva, managing director and head of IB operational strategy at BCS, said: 鈥淭he main challenge we faced was to implement a universal system that would incorporate different markets, instruments and currencies.鈥�
鈥淲hile developing the system there have been wide consultations made and we have met the high standards and business requirements of the company. Implementation of the software has been a huge success.鈥�
Vladimir Kurlyadchik, director of business development at ARQA Technologies, added: 鈥淭his project has demonstrated a combination of experience in development of complex software and the know-how of a leading financial market operator.鈥�
鈥淭he upgrade and implementation of the software has only taken six months thanks to efficient work of business analysts of the BCS group.鈥�
BackQORT, which provides record keeping, trade settlement, regulatory reporting and partial management accounting, will provide BCS clients with access to new markets and a more efficient transaction clearing model.
The BCS platform will now perform accounting of spot instrument operations in various markets including the Moscow Exhange, the London Stock Exchange, and the MOEX Currency market.
The backQORT system makes calculations of various taxes applicable to companies operating in accordance with EU regulations. Improvements also include a function to directly clear transaction at exchanges and through international clearing organisations.
Tatiana Chepeleva, managing director and head of IB operational strategy at BCS, said: 鈥淭he main challenge we faced was to implement a universal system that would incorporate different markets, instruments and currencies.鈥�
鈥淲hile developing the system there have been wide consultations made and we have met the high standards and business requirements of the company. Implementation of the software has been a huge success.鈥�
Vladimir Kurlyadchik, director of business development at ARQA Technologies, added: 鈥淭his project has demonstrated a combination of experience in development of complex software and the know-how of a leading financial market operator.鈥�
鈥淭he upgrade and implementation of the software has only taken six months thanks to efficient work of business analysts of the BCS group.鈥�
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