CHICAGO and DENVER, June 11, 2020 /PRNewswire/ -- CQG, a leading global provider of high-performance technology solutions for traders, brokers, commercial hedgers, and exchanges, today announced that it has just completed a transaction to license certain software assets from Blue Trading Systems (BTS). The move will give CQG an exclusive, comprehensive suite of custom algorithmic strategies to offer clients, along with new low-latency spread routing for spread traders.
The new, cutting-edge technology is designed to give traders access to strategies offering the best execution across a range of markets. CQG is integrating the new algos and execution logic into its full suite of trading products, allowing for a range of choices for traders and brokers who seek anything from low-cost, easy-to-use products to more advanced, sophisticated trading platforms.
The firm also announced that Kevin Darby, formerly Co-Founder and Managing Partner of BTS, has joined CQG as a Product Manager, overseeing the product strategy for its spreader and algo offerings. In that role he will also oversee the integration and implementation of the new customized CQG offering based on the BTS software.
When the integration is complete, CQG's existing infrastructure, coupled with new low-latency spread routing, will give new power to traders and hedgers, letting them decide when to turn on faster routing in some markets and standard order routing in others. CQG's industry-leading simulation and back-testing tools will allow users to test strategies in as near real-market conditions as possible. They can then leverage transaction cost analysis (TCA) features to review performance, giving users full visibility into the benefits of deploying their proposed strategies.
CQG President Ryan Moroney said: "One of the things that stands out from the market activity over the last few months has been the incredible velocity with which markets can react to world events. During this time of high volatility, we had numerous internal discussions on product enhancements we could make to provide our customers with new solutions designed for these market conditions. We've known the BTS team for a few years and have always admired the care that has gone into its products. When the opportunity came up to license the BTS code as well as to bring Kevin on to lead the new offering, we seized on it. This approach provides us with the basis for building a high-performance algo and spreading platform that will allow our customers to thrive in markets like these."
Darby said: "I'm thrilled to join the highly skilled and well-respected group of professionals at CQG in an effort to build out both a comprehensive institutional algo suite and a new, faster spreader platform. Licensing the BTS code affords us a familiar low-latency foundation on which to pursue this exciting endeavor."
CQG provides the industry's highest performing solutions for traders, brokers, commercial hedgers, and exchanges for their market-related activities globally, including trading, market data, advanced technical analysis, risk management, and account administration. The firm partners with the vast majority of futures brokerage and clearing firms and provides Direct Market Access (DMA) to more than 45 exchanges through its global network of co-located Hosted Exchange Gateways. CQG technology serves as the front end for a variety of exchanges, and the firm's technology is increasingly employed as the over-the-counter matching engine for important new markets. CQG's server-side order management tools for spreading, market aggregation, and smart orders are unsurpassed for speed and ease of use. Its market data feed consolidates 85 sources, including exchanges worldwide for futures, options, fixed income, foreign exchange, and equities, as well as data on debt securities, industry reports, and financial indices. One of the longest-serving technology solutions providers in the industry, CQG is celebrating its 40th anniversary in 2020. CQG has received the Prop Traders' ISV of the Year award from FOW (now Global Investor Group), the Best Technical Analysis Platform award from The Technical Analyst, and the Best Product for Traders award from Finance Magnates for its multi-asset trading platform. CQG is headquartered in Denver, Colorado, with 16 sales and support offices and data centers in key markets globally.