EGAR TECHNOLOGY PRODUCES A SYSTEM FOR THE AUTOMATION OF MARKET MAKERS ON THE MOSCOW STOCK EXCHANGE

The EGAR Technology experts have developed the EGAR Market Maker module, designed to automate the operation of market makers to maintain the liquidity of the securities on the trading floor of Moscow Interbank Currency Exchange (MICEX), namely auto-billing applications for purchase and sale in accordance with predetermined algorithms.

The EGAR Market Maker module runs under the EGAR Connect system, accesses to exchange data such as quotations, orders, transactions; and allows you to perform operations on the stock exchange, bidding and dropping bids with minimal time delay. In accordance with predetermined algorithms and settings, the system monitors the set of parameters in real time mode and, basing on them, automatically inserts bids into the trading system in order to maintain prices, demand, supply and trading volumes for specific instruments.

The basic version of EGAR Market Maker functionality includes automatic bidding to maintain a specified gap, support for arbitrary algorithms of bidding, tracking restrictions (quotas for purchase/sale, price caps) and protection against robots.

The developed solution provides participants of the exchange market with features such as support of a variety of algorithms of bidding and bid changing, working with many securities at the same time, the use of different algorithms for different securities, fast processing of stock exchange data as well as use of any data provided by the exchange in the algorithms and the connection of additional data sources.

Director of the Department of automation of investment activities of EGAR Technology Armen Shakhnazaryan said: “The first presentation of the EGAR Market Maker module has caused considerable interest among market makers and other financial market participants. In establishing the system, developers of EGAR Technology took into account all the basic requirements for the bidding algorithm from a tripartite contract between the Moscow stock exchange, the issuer and the market maker. We are waiting for new orders and are ready to further development of the product.”

EGAR Market Maker module, developed on the EGAR Connect platform, belongs to the line of products by EGAR Technology to automate the investment activities of financial institutions, functionally covering areas such as trading, asset management, risk management, limits control, derivatives transactions, the provision of financial information and data analysis.