CQG, a global provider of high-performance technology solutions for market makers, traders, brokers, commercial hedgers and exchanges, announced a strategic partnership with global Fintech, Broadridge Financial Solutions Inc. (NYSE: BR) that will “integrate the two firms’ Execution Management System (EMS) and Order Management System (OMS) respectively.”
The combination of CQG’s front-end trading technology with Broadridge’s Order Management System and the NYFIX network will reportedly “be a first of its kind out-of-the-box solution for institutional customers who wish to take advantage of a full front-, middle- and back-office technology suite.”
These types of partnerships “complement Broadridge’s open architecture approach of the OMS.”
CQG completed a FIX connection into Broadridge “to allow for order flow from CQG directly into Broadridge’s infrastructure to be managed and routed out to its network of exchanges and liquidity providers.”
Additional development underway will “complete the effort to allow for seamless workflow between the two systems.”
Viewing and managing orders will “be achievable and in-sync in either system. Customers can stage orders, apply algorithmic logic to existing orders, splice and bundle orders, manage allocations, and much more.”
Traditionally, clients have been “tasked with piecing together a solution with a variety of technology providers and have the added effort and cost of making those tools work together.”
CQG CEO Ryan Moroney said:
“We believe this strategic partnership will bring ease along with significant savings opportunities to our mutual customers. Rather than making a choice between an OMS and an EMS, customers will be able to deploy an enterprise solution that offers both to their internal desks and clients alike.”
Together, Moroney said, CQG and Broadridge look forward “to enhancing the workflow of their institutional customers and providing best-in-class execution and order management.”
As noted in the update, CQG claims it “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 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.”