12 In Focus<strong>Comarch</strong> Exchange Trading<strong>Comarch</strong> eXchange Trading is a new product on offerfrom <strong>Comarch</strong>. We are speaking with Artur Krzystek,Business Unit Manager at <strong>Comarch</strong>, who is responsiblefor the product’s creation and implementation.
in Focus13Why is <strong>Comarch</strong> designing a new brokerage system?Artur Krzystek: This is a good moment for the creation ofa new system in the brokerage sector. A new transactionalsystem will be implemented on the Warsaw Stock Exchange(WSE) from 2012. The current WARSET will be replaced bysoftware belonging to the WSE’s new partner – NYSE-Euronext.This is a chance to break up the dual monopoly of twosuppliers on the Polish market. <strong>Comarch</strong> has undertaken thischallenge and is actively working on an innovative solution.We have employed people from the financial market with alot of experience in brokerage offices. Thanks to their knowledgeand <strong>Comarch</strong>’s openness to the newest technologies,we are certain, that our clients will receive the best transactionalsystem in Poland. Apart from changes in the technologyused by the WSE, we are motivated by other factors. Weexpect that the Warsaw bourse will attract ever larger companiesand Stock Exchange players. Brokerage offices deservethe implementation of a system which will carry the immenseliquidity present on the securities market, allow fast tradingwhile at the same time being user friendly.How does <strong>Comarch</strong>’s system differ from other solutionsavailable on the market?Artur Krzystek: We are placing out bets on a ‘system for people,’which is one that accepts the superiority of brokers anddealers over accounting operations. The application is gearedtoward serving players as a tool for the efficient execution ofmarket operations, which does not make their actions dependenton technological limitations or formalities connectedwith the registry side of the transactions. Thanks to the design,which is based on highly efficient grid solutions, we are able toguarantee a high system capacity (processing increased datavolumes), servicing orders at a speed not heard of until now(especially important with high-frequency trading), as wellas reliability and security. R&D research carried out as part ofproject development has reduced the time it takes to serviceorders twofold, compared to the competition. What is important;we are ‘opening’ our system to other solutions through awidely available interface. It will allow external users and softwaresuppliers to access the application via a standardized API,including FIX protocol. This will be the first fully open tradingplatform delivered by Polish suppliers.What will the brokerage office gain from implementing<strong>Comarch</strong> eXchange Trading?Artur Krzystek: As I mentioned earlier, the brokerage officewill get a system that is in accord with the new technologypresent on the WSE. It will be faster, more flexible and userfriendly. It will allow the user to ‘play the game’ effectively, thususing algorithms to trade on the cash and derivatives market.A definite advantage of our system is the possibility to configureprocesses by business administrators. This occurs as part ofthe workflows (e.g. verifying algorithms or freeing tasks), as wellas long-term processes, such as client services. In most casesit eliminates the need to carry out software work on the supplierside. The system not only has a rich functionality, but wealso take care to have the best usability. A stock market playeris a very demanding person when it comes to the speed ofthe application. The artistry lies in creating software which willguarantee the full operational possibilities, and using it will bea pleasure. We invite you to get to know the system that willfulfill these tasks – <strong>Comarch</strong> eXchange Trading.I understand that the system is flexible enough to beadapted to international markets and can be used byforeign brokerage offices?Artur Krzystek: We designed the brokerage system for companiesfrom different countries that want to handle stockexchanges all over the world. The application allows tradingon many markets (e.g . WSE, Forex, TGE, Frankfurt) under oneaccount, using various types of financial instruments (e.g.securities, derivatives, currency etc.). A Polish market traderusually owns a few accounts – a cash account and accountsthat handle transactions on foreign stock exchanges. <strong>Comarch</strong>eXchange Trading aggregates different operations on oneaccount. It has a flexible construction, thanks to which it canprocess various account plans and calculation formats withdifferent depositary banks. The system also handles multi currencyoperations and its interface can of course be configuredin any language.When can we expect the first system implementations?Artur Krzystek: Implementations will be carried out in Polandbut the product will also be on offer beyond its borders. Thefirst implementation is taking place in the Raiffeisen Bank Polskabrokerage office. The company wants to reach out to themost active individual investors and offer them investmentperspectives, available on mature capital markets. There is a lotof interest in <strong>Comarch</strong> eXchange Trading but it is too early toreveal who else will benefit from the competitive advantagethat the <strong>Comarch</strong> system offers.Interview by Grzegorz PękałaArtur Krzystek<strong>Comarch</strong> SAE-mail: Artur.Krzystek@comarch.comPosition: Business Unit ManagerSector: Financial ServicesGrzegorz Pękała<strong>Comarch</strong> SAE-mail: Grzegorz.Pekala@comarch.comPosition: Marketing specialistSector: Financial Services
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