Qurrex Monthly: November Edition

It’s been a busy month for Qurrex Project Team. Among the other things, the Trading Gateway Prototype and the Trading Orders Processing Decoder have been released, key modules bugs have been fixed.

Take a look at this newsletter and keep informed about Qurrex latest news and updates.

Qurrex Development Team.

In October, the Qurrex Development Team has released the alpha version of Qurrex Trading Gateway Prototype and the Trading Orders Processing Decoder. Currently, the loading tests are arranging and bugs are fixing.
The development of a Data Validation System has been started for Risk Engine and Matching Engine modules.

Next month, the Qurrex Development Team is going to release the Beta version of Matching Engine and continue the development of the Risk Engine.

Qurrex Product Team.

The Qurrex Product Team has finished the development of the Market-Data Services Broadcast description, including Market-Data Restoration and Market-Data Replay functions.
The Product Team will continue the development of the Objects Model within the system, the description of the objects’ lifecycle and key procedures.

The most of the Qurrex Product Team's time is devoted to the Objects Model, that is very important for the Qurrex Exchange. The description of Objects Model will define the customers registration procedures and the addition of new trading tools to the system without interruptions.

In next few months, the Qurrex Product Team will describe the formats of the Post-Trade Gateway and define the necessary procedures. Also, the clearing and settlements procedures will be described.
The Qurrex Management Team
Currently, we are negotiating with several fintech and blockchain associations in order to become the member of such associations.

We will publish the additional information on this issue next month.

As always we like to hear your feedback on any and all the things covered in these newsletters, so be sure to keep the dialogue going .

In November, the development team presented the first working version of the matching engine, and the first prototype of the OrderBookDepth service. Service OrderBookDepth is responsible for the formation of anonymous market information in the form of a table of price levels. The logic of this service will be used to transmit market information to clients using different protocols: Binary, FIX / FAST, JSON (WebSocket). The development of the first version of the data validation system was completed, responsible for conducting checks on all incoming messages.

The product team completed work on message formats both external and internal, and completed the formation of requirements for post-trade services, including the clearing and settlement mechanism, the process of decomposing tasks and planning their implementation started. In addition to the development tasks, the product team is actively engaged in the promotion of technological solutions on the market.

The plans for the month, the product team will continue to form the logic for processing incoming messages, and in particular the user interaction with a set of gateways (trading gateway, post-trade gateway) for various scenarios. The development team plans to make a codec to broadcast the data of the OrderBookDepth service in the Binary format. In December, the team is faced with the task of compiling a detailed description of post-trade functions, such as maintaining client positions and managing limits.

Qurrex Monthly: December18 – January19 Edition

December and January's rolled in fast and there's already so much going on at Qurrex.
Today, we would like to update the latest news on the development of Qurrex platform.
In December18 – January19, the Qurrex`s Product Team has prepared and submitted a description of the Statistics Service. This was the last step for the Market Data Services block development. The Statistics Service is responsible for the collection, aggregation and calculations of current trading information, such as the VWap Price, High Low Price, Total Volume and etc., over a moving window of 24 hours.
The Development Team has completed the implementation of the System of Authorization and maintenance of sessions with the gateways of the Trading System. At the moment, this functionality is at the testing stage.
Currently, the Development Team has started the development of the Risk Engine. This service allows System Administrator to make sure that the client has an asset for trading transactions and revaluation of assets in the portfolio for margin trading. Clients will be able to have several accounts (portfolios of assets).
During next months, the Product Team will finalize the methodology of the Trading System. Also, the development of Post-Trade System will be finished.
As always, we love to hear your feedback on any and all the things covered in these newsletters, so be sure to keep the dialogue going — we’re in this together!

Qurrex Development Progress Update


In February, the Qurrex Development Team has released the first version of the exchange components responsible for Risk Checking and Trade Statistics Service. The first version of Risk Engine implemented risk checking in DVP mode, there is support for repo tools (borrowing), and at the moment the version is in the testing phase. Statistics Service is also at the testing stage. The Qurrex Testing Department has written a framework that allows testers to integrate with any component of the system and interact directly with internal objects and messages.
The Qurrex Product Team has made a description of the mechanisms of trade in the OTC mode. This mechanism allows users to run a full-fledged Automated OTC Desk within the exchange, to conclude these transactions without intermediaries. Also the Product Team has created the requirements to the trading interface of the system (WEB-UI), taking into account the ability to connect and exchange trade / non-trade messages.
The method of testing the trading system and the first version of the test scripts to cover the entire trading system with tests were compiled. This method and set of scenarios allow to automate the testing process and simplify the transfer of the trading system (White Label).
Currently, most of the components of the Qurrex system are at the testing stage. The Development Team fixing the bugs. The Qurrex team is going to launch the available system polygon for customers as soon as possible.
The following months plans: development of support for the WebSocket Protocol, comprehensive testing of the entire system, writing services for storing the history of market information, and compiling a full public report on QTS and its functionality.

Qurrex Monthly: April Edition
QTS 1.0 Release

Last months have been an extremely efficient and rewarding phase for Qurrex Team.

Today we are very glad to inform you that Qurrex Team has finished the loading test of Qurrex Trading System (QTS).

Currently we are preparing to launch QTS 1.0 Release.

QTS 1.0 Release will have the following features:

• Stable versions of Trading System Components, including Binary and WS Gateways, Risk Checking Module, Trade Statistics Service and Market Data Service;
• Available Trading Protocols: Binary;
• Available Market Data Protocols: WS, Binary (VPN or Collocation);
• Supported Trading Instruments: BTC/USD, ETH/BTC, QRX/ETH;
• Settlement Mode: Full Funds Pre-Deposit (DVP);
• Trading Mode: SPOT.

QTS Release 1.0 will allow users to make transactions in the «Paper Trading Mode».

Detailed QTS Release 1.0 documentation and description of protocols will be available soon.

The description of the QTS 1.0 Release functionality.
Transactions Gateway
The following features and capabilities are available in this QTS 1.0 release:
• API Key Authentication;
• Password and Login Authorization;
• Different Access Levels Authorization:
Individua account;
Group of individual accounts.
• Differentiation of Access Rights to components and functionality;
• Validation and verification of incoming messages.
Access to trading transactions is available through Binary protocol.

Supported types of trading transactions:
• NewOrder – request to process a new order;
• CancelOrder – request to cancel an active order;
• MassCancel – request to massive cancellation of orders;
• ReplaceOrder – request to change active order.

Risk Checking Module

The first version of the security check system will support a full check of the adequacy of funds for transactions. Margin transactions are not available in QTS 1.0 Release.

According to the results of transactions, the current position of the trading instrument and the asset will be calculated. The security check will be conducted on individual customer accounts.

Trading Orders Processing Module

Trading Orders Processing Module processes the incoming trading orders, forms trading orders queue (market depth), controls full life-cycle management (adding new orders, modifying and cancellation of existing orders).

The following features are available in this QTS 1.0 release:

• Supported Trading Mode: Anonymous Trading;
• Supported Trading Order Process Mode: TimePriority;
• Supported Types of Orders:
LIMIT;
HIDDEN;
• Supported Time In Force:
GTC;
IOC;
FOK.

UDP MarketData Services

The following features of Services for anonymous Market Data translation via Binary are available in this QTS 1.0 release:

• OrderBook Service – services, that translate snapshots and updates of aggregated price levels and volumes;
• Statistics Service – service, that translate snapshots of calculating statistics on the progress of trading;
• Trades Service – service, that translate snapshots and updated of anonymous transactions.

The Date of launching QTS 1.0 Release will be announced soon.

As always, we love to hear your feedback on any and all the things covered in these newsletters, so be sure to keep the dialogue going — we’re in this together!

Qurrex Monthly: August Update

August’s rolled in fast and there's already so much going on at Qurrex.
Today, we would like to update the latest news on the development of Qurrex platform.
As you know, on June, 21st, we have started the public test of the Qurrex first working version of the exchange core.
Currently, the functionality of the system is limited, but it easily allows advanced users to test its capabilities and potential.
The description of the system functionality and binary API Protocol are available at https://docs.qurrex.com/#introduction.
Every user can connect to the trading gateways directly and work with the system in demo trading mode.
Demo trading mode allows users to trade in real time on a par with other test participants. It is assumed that there is a single depth of quotations, which displays the real market volume.
Up to current moment, more than 2 730 users have tested the Qurrex Trading Platform.
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In July, the Qurrex Team has successfully developed and tested two API tools - the public WebSocket and REST.
The WebSocket service is used for broadcasting market data to a wide range of users via HTTP using WebSocket and Rest. With WebSocket, a user can subscribe to a data broadcast channel which consists of a snapshots and incremental updates. In this case, a data slice is provided for a short period of time.
When using REST, the user can only get the actual data snapshot at the time of the request. All historical data is obtained only through REST. All data is available to users without authorization, but the service have settings for limiting the number of requests, active connections or subscriptions from the same IP address.
Using WebSocket requires a persistent connection between the user and the server. A connection uses a session protocol to maintain its integrity. Market data is available in several channels that are accessed within a single connection. To receive channels updates messages users must subscribe sending special control messages. All messages are formatted as JSON objects.
WebSocket and REST APIs allows users to get:
- information on available assets in the trading system and their parameters;
- information on trading instruments, their parameters, such as rate or price limits.
Supported Subscription Channels:
- Book - List of Price Levels with Aggregated Volumes;
- Trades - Anonymous Transactions;
- Stats - Statistical Market Performance;
- Candles - Candles.

Supported REST Data:
- Book - the current state of the glass;
- Trades - transaction history for a given period;
- Stats - Statistics by day;
- Candles - the history of candles for a given period;
- Instruments - information on trading instruments and parameters;
- Assets - information on available assets in the trading system;
The description of the Qurrex system functionality and WebSocket and REST APIs protocols are available at https://docs.qurrex.com/#introduction.
Currently, we are working on the development of private communication channels WebSocket and REST APIs, that will allow a huge amount of users to connect to the system and test its operation in paper trading mode.

Qurrex Monthly: November Update
Today, we would like to update the latest news on the development of Qurrex Trading System.
Currently, the Qurrex Product Team finishing the development of the Stop Processing System and Trailing Stop Orders.
In our system, we’re going to add this functionality to the Matching Module in order to improve the response speed and reduce the chance of slippage, even with increased market volatility.
Also, we are working on integration of web interface with Qurrex Trading System.
Qurrex Development Team is currently preparing a large technical release of a new version of the platform, which includes:
 WebSocket / REST protocol support for processing trade orders in JSON format;
 Support for REST requests to receive information on their active applications;
 Support for REST requests for a list of recent transactions and applications;
 Separate information gateway for receiving DropCopy;
 Changes in the binary protocol, that’s allow to get a list of active applications.
The announcement will be made in next few weeks.
Full release information will be available at our documentation page https://docs.qurrex.com/

December update

The Qurrex team has released a new version 1.2. of trading platform. We have added a REST Protocol for trading and non-trading operations, which is accessed using a public and private key. In addition to expanding the available protocols, we have added a system that allows you to allocate trading accounts in separate groups and manage them using a single keychain. All this you can find out from the updated documentation at https://docs.qurrex.com/. Later we will provide public access to our bot https://t.me/qurrex_bot to obtain keys and participate in public testing of the new Protocol.


In the future, the team plans to complete the development of the WebSocket Protocol for trading operations and conduct private testing. The product team continues work related to the integration of the web interface and system protocols, and the development of components responsible for the secure tranfer of data to users.

Also, the team plans to complete the description of the architecture of the exchange management system, and pass the development team for implementation.