Midi effects alternatives for Cubase elements 8

Hi. The elements version of Cubase does not have midi effects insert slots. Is it possible to use something like a vst arpegiator to obtain similar results ?

  1. I think something like a window, in which you drag and drop your midi notes, arpegiate them, then drag them back. Is there such a thing ?
  2. Another option could be to rewire something as an external arpegiator (midi out) , then feed the data back in Cubase (midi in). Is this possible ?