BCS Prime Brokerage


    London, 23rd October 2013: BCS Prime Brokerage (‘BCS’), the international arm of the largest trader of equities and derivatives on the Russian exchange, has announced a strategic partnership with ARQA Technologies to implement ARQA’s automated back-office software – backQORT.

    The multipurpose back office system, 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 Exchange (MOEX) the London Stock Exchange (LSE) and the MOEX Currency market.

    The backQORT system makes calculations of various taxes applicable to companies operating in accordance with EU regulations. One of the improvements introduced into the system is the function to directly clear transaction at exchanges and through international clearing organisations.

    The new functions acquired by the system over the course of the latest implementation are available to all clients of ARQA Technologies.

     Tatiana Chepeleva, Managing Director, Head of IB operational strategy at BCS, commented:

     “The main challenge we faced was to implement a universal system that would incorporate different markets, instruments and currencies. While 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.”

    Vladimir Kurlyadchik, Director of Business Development at ARQA Technologies, added:

     “This project has demonstrated a combination of experience in development of complex software and the know-how of a leading financial market operator. The upgrade and implementation of the software has only taken six months thanks to efficient work of business analysts of the BCS group.”

     About BCS Prime Brokerage Limited

    BCS Prime Brokerage Limited (‘BCS’), the UK regulated arm of the BCS Financial Group, provides innovative and customisable high and low touch solutions for Russia and core global and emerging markets. Providing dealing, advisory and prime services to professional investors, BCS combines state-of-the-art brokerage technologies with a deep understanding of the market.

    In June, BCS was granted UK regulatory authorization by the Financial Conduct Authority (FCA) to deal and advise on investments and hold client assets, officially marking the launch of its international brokerage business.BCS is the largest trader of equities and derivatives on the Moscow exchange by turnover and has a 10%-15% market share of equity trading.

    About ARQA Technologies

    ARQA Technologies is an independent software provider of solutions for operating on financial markets. Established in early 2000 as a result of transformation from Siberian Interbank Currency Exchange Engineering Office (Novosibirsk), the company’s main services are the creation and introduction of the integrated technological solutions for automation of banks and investment companies operations at financial markets.

    The company offers a full range of front-to-back office solutions as well as software as a service (SaaS) from its data-centres located in Novosibirsk, Moscow and Kiev. Clients include over 300 banks, investment and asset management companies globally.

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